RAK Properties targets Dh300m in 2020 revenue as it plans new projects – The National

RAK Properties targets Dh300m in 2020 revenue as it plans new projects – The National

RAK Properties targets Dh300m in 2020 revenue as it plans new projects. Exclusive: The firm is eyeing new developments worth Dh350m in Ras Al Khaimah and Abu Dhabi. RAK Properties, the Abu Dhabi-listed developer, expects to reap Dh300 million in 2020 revenue and plans to start new projects in Ras Al Khaimah and Abu Dhabi to boost growth, a top executive of the firm said.. The developer behind the Dh10 billion master development, Mina Al Arab in Ras Al Khaimah, earlier this month said 2019 revenue climbed 90 per cent to Dh192m.. The company is currently in the process of tendering the project, he said.. In Abu Dhabi, the developer plans to launch a new development in the fourth quarter of this year at Mohammed bin Zayed City with an investment of Dh150m.. "There is still demand for property in Ras Al Khaimah," he said.. "I am optimistic there will be demand [on the back of government measures].. RAK Properties is also pushing to complete hospitality projects - the Intercontinental Hotel and Resort and the Anantara Mina Al Arab Hotel and Resort.. The two projects are expected to start operations next year and will add to the company portfolio that