RAK Properties reports AED408mln revenues for 2022

RAK Properties reports AED408mln revenues for 2022

- Opens 5 Star InterContinental Hotel & Spa

Ras Al Khaimah – UAE: RAK Properties PJSC, the largest listed property developer in Ras Al Khaimah, on Sunday 12 February reported annual revenue of AED 408 million for 2022.

During the year RAK Properties delivered 207 villas in Marbella, a luxury residential beachfront community on Hayat Island, as well as 266 apartments in Julphar Residence on Abu Dhabi’s Reem Island. In addition, RAK Properties successfully opened the 5 Star InterContinental Hotel & Spas on Hayat Island.

Commenting on the results, Chairman of RAK Properties PJSC, HE Abdul Aziz Abdullah Al Zaabi said, “These results provide a strong foundation to deliver the next stage of our transformation strategy that will bear fruit in 2023 and beyond.”

Recently appointed CEO of RAK Properties PJSC, Sameh Al Muhtadi, said, “We have delivered a solid revenue number and made good progress with our residential development deliveries and our 5 Star hospitality offerings. The InterContinental Resort & Spa has proved to be very popular and is delivering excellent revenue and the opening of the 5 Star Anantara Resort & Spa later this year will add considerable additional appeal to our overall hospitality offering on Mina Al Arab, and this will