RAK Properties reported revenue of Dh193.99 million in the first half of 2022, down from Dh265.10 million in the year-ago period, it reported on Sunday. In the same quarter, net profit decreased to Dh25.55 million from Dh119.81 in H1 2021.
In the first half of this year, the company’s assets climbed slightly to Dh6.23 billion from Dh6.21 billion in the corresponding time in 2021.
In the Marbella Villas project in Mina Al Arab, the business finished and delivered 207 villas and townhouses during this time. The company reported that 266 apartments in the Julphar Residence, Reem Island project in Abu Dhabi have been finished.
The Intercontinental Ras Al Khaimah Mina Al Arab Resort and Spa hotel of the corporation have been open since February 11, it was noted while working on the Anantara Mina Al Arab Hotel and Resort is proceeding according to schedule.
Revenue from property sales totaled Dh141.78 million during the six-month period, and Dh24.41 million came from hotel operations.