RAK Properties posts 2.7% increase in 2013 profit

February 12, 2014 6:33 am

UAE developer RAK Properties has announced its net profits for 2013 rose to Dhs151m ($41m) from Dhs147m in the previous year. The board of directors proposed a 5% cash dividend for 2013, which requires shareholders’ approval at the annual general meeting to be held on March 6. Last year, RAK Properties handed over 192 residential units, including villas, townhouses, apartments and commercial offices in Mina Al Arab and Julphar Tower in Ras Al Khaimah and RAK Tower in Reem Island in Abu Dhabi.