{"id":4295,"date":"2016-02-10T22:42:08","date_gmt":"2016-02-10T15:42:08","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=4295"},"modified":"2016-02-10T19:51:21","modified_gmt":"2016-02-10T12:51:21","slug":"rak-properties-profit-up-2-7-to-dh160-million-in-2015","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rak-properties-profit-up-2-7-to-dh160-million-in-2015\/","title":{"rendered":"RAK Properties profit up 2.7% to Dh160 million in 2015"},"content":{"rendered":"


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\nNet profit at RAK Properties, the developer backed by the Ras Al Khaimah government, increased by 2.7 per cent last year.The Abu Dhabi-listed company on Wednesday posted a net profit of Dh160 million for 2015, up from Dh155.7m the previous year as it handed over villas at its Dh10 billion Mina Al Arab complex on the Ras Al Khaimah coastline.Revenues grew by 23 per cent in 2015, RAK said, increasing to Dh367.8m from Dh297.8m a year earlier.
\nThe news sent company shares up by 14.3 per cent on Wednesday to close at 56 fils.RAK Properties, which has assets of Dh4.7bn, spent the second half of the year completing and starting to hand over a first phase of its 104-unit Flamingo Villas in Mina Al Arab. A second phase of 57 Flamingo villas was launched in May. RAK Properties launched Mina Al Arab, a housing complex spread over 43 million square feet, in May 2006.
\nThe news comes after RAK in July posted a 56 per cent drop in profits for the first half of the year on the back of lower sales.Property brokers report that the real estate markets in all of the UAE’s Northern Emirates slowed at the end of last year as Dubai’s property slump and the effect of low oil prices hit sales.”The overall negative sentiment in the Dubai market has affected sales in the Northern Emirates, which remained slow,” said John Stevens, the managing director of the real estate services company Asteco.
\n“This was especially evident in Ras Al Khaimah, which historically benefited from good levels of demand for its master-planned developments as they were considered a better value for money option compared with Dubai.”lbarnard@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…RAK Properties profit up 2.7% to Dh160 million in 2015<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Net profit at RAK Properties, the developer backed by the Ras Al Khaimah government,...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-4295","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-17h","jetpack-related-posts":[{"id":11766,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rak-properties-income-rises-despite-slow-market\/","url_meta":{"origin":4295,"position":0},"title":"RAK Properties income rises despite slow market","date":"May 2, 2016","format":false,"excerpt":"\r RAK Properties, the developer backed by the Ras Al Khaimah Government, has posted a 25 per cent profit increase for the first quarter despite a slowing property market in the Northern Emirates. The Abu Dhabi-listed group said on Sunday profit for the first three months of the year increased\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":43835,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rak-properties-profits-from-mina-al-arab-handovers\/","url_meta":{"origin":4295,"position":1},"title":"RAK Properties profits from Mina Al Arab handovers","date":"February 12, 2017","format":false,"excerpt":"\r RAK Properties, the developer backed by the Ras Al Khaimah government, posted a 9.1 per cent increase in profit last year as the company benefited from handing over properties at its Mina Al Arab development in RAK despite a slowing property market. The Abu Dhabi-listed developer said its profit\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":53323,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rak-properties-profit-61-higher-in-first-quarter\/","url_meta":{"origin":4295,"position":2},"title":"RAK Properties profit 61% higher in first quarter","date":"April 30, 2017","format":false,"excerpt":"\r Profit at RAK Properties more than doubled in the first three months of 2017 compared with a year earlier as the company benefited from handing over properties at its Mina Al Arab complex.The Abu Dhabi-listed property developer said that profit increased to Dh39.9 million from Dh18.5m a year earlier\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":53325,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rak-properties-profit-61-higher-in-the-first-quarter\/","url_meta":{"origin":4295,"position":3},"title":"RAK Properties profit 61% higher in the first quarter","date":"April 30, 2017","format":false,"excerpt":"\r Profit at RAK Properties more than doubled in the first three months of 2017 compared with a year earlier as the company benefited from handing over properties at its Mina Al Arab complex.The Abu Dhabi-listed property developer said that profit increased to Dh39.9 million from Dh18.5m a year earlier\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":33270,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rak-properties-to-build-homes-in-central-business-district-of-abu-dhabi\/","url_meta":{"origin":4295,"position":4},"title":"RAK Properties to build homes in central business district of Abu Dhabi","date":"November 6, 2016","format":false,"excerpt":"\r RAK Properties, backed by the Ras Al Khaimah Government, has become the second major developer to announce plans to build homes in Abu Dhabi's long-awaited new central business district.On Thursday, RAK Properties announced that it had committed to building 205 apartments in the new Madinat Zayed city development close\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":145319,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uae-real-estate-rak-properties-announce-new-luxury-raha-island-in-ras-al-khaimahs-mina-al-arab\/","url_meta":{"origin":4295,"position":5},"title":"UAE real estate: RAK Properties announce new luxury Raha island in Ras Al Khaimah\u2019s Mina Al Arab","date":"May 27, 2024","format":false,"excerpt":"\r The development looks to embody \"luxury island living\" for those seeking an ultimate island lifestyle experience within a tranquil landscape in Ras Al Khaimah\r \r Source : arabianbusiness.com\r Read more...UAE real estate: RAK Properties announce new luxury Raha island in Ras Al Khaimah\u2019s Mina Al Arab","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2024\/05\/Raha-Island-Ras-Al-Khaimah-1-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/4295"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=4295"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/4295\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=4295"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=4295"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=4295"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}