Ras Al Khaimah, February 2021:
RAK Properties PJSC have announced their financial results for the fiscal year 2020. The property developers posted a net profit of AED 114 million in 2020, compared to AED 93 million in 2019.The company reported an increase in its total assets from AED 5.6 billion announced by the end of 2019 to AED 5.8 billion in 2020.
Commenting on the outstanding financial results, Mohammed Sultan Al Qadi, Managing Director of RAK Properties, said: “ RAK Properties performance in 2020 reflects our ability to deal with challenges during these exceptional pandemic circumstances which casted a shadow over all sectors and affected them directly and indirectly.
Al Qadi added that despite the challenges, RAK Properties announced initiatives which aligns with the government’s efforts to support all the investors and stakeholders in the long term.