RAK Properties targets Dh400m in revenue this year amid a broader economic recovery

SourceThe National
SectorReal Estate

RAK Properties is targeting revenue of Dh400 million ($109m) in 2021 as the UAE’s property sector continues to recover from the coronavirus pandemic.

The developer, which made a net profit of Dh113.5m on revenue of Dh243.5m last year, aims to sell 300 units from two projects in Ras Al Khaimah – Marbella Villas and Bay Residence, its acting chief executive Mohammed Al Tair told The National in an interview.

It is offering various incentives to increase sales including flexible payment plans as well as a waiver on service charges.

“In 2021, we are going to have bigger sales than last year. We achieved Dh240m

...