The General Assembly of Ras Al Khaimah Properties, held yesterday, approved the distribution of cash dividends at a rate of 3% of the capital for the year 2023. According to the company’s financial data, the total distributed profits amount to AED 60 million, equivalent to 3 fils per share.
The General Assembly also approved the distribution of bonus shares at a rate of 4%, equivalent to 4 shares for every 100 shares held for the year 2023. The company’s capital amounts to AED 2 billion.
Furthermore, the General Assembly agreed to increase the company’s capital by issuing 920 million shares at a nominal value of one dirham, with a total value of AED 920 million. This is in favor of the Ras Al Khaimah government as a strategic shareholder, raising its stake in the company from 5% to approximately 34% after the increase, subject to approval by the Securities and Commodities Authority.
Ras Al Khaimah Properties’ profits multiplied by five in 2023, showing a staggering growth rate of 555% on an annual basis.
The company’s financial results revealed a profit of AED 201.8 million during the year 2023, compared to a profit of AED 30.78 million in 2022.
The company’s revenues reached approximately AED 1 billion in the past year, compared to AED 408.22 million in 2022.
The company’s comprehensive income increased to AED 181.98 million in 2023, compared to AED 20.97 million in 2022.
More on Ras Al Khaimah Properties, it’s a prominent real estate company based in the Emirate of Ras Al Khaimah, United Arab Emirates. It operates in various sectors of the real estate industry, including residential, commercial, and industrial properties. The company is known for its diverse portfolio of high-quality developments and its commitment to delivering exceptional projects.
With a strong focus on innovation and sustainability, Ras Al Khaimah Properties has established itself as a leading player in the real estate market. The company’s projects are characterized by their modern designs, luxurious amenities, and strategic locations. Whether it’s residential communities, office spaces, or industrial complexes, Ras Al Khaimah Properties strives to create developments that cater to the diverse needs and aspirations of its clients.
Ras Al Khaimah Properties has gained a reputation for delivering projects of the highest standards. It employs a team of experienced professionals who oversee every aspect of the development process, from conceptualization and design to construction and handover. The company’s commitment to quality and customer satisfaction has earned it the trust and loyalty of its clients.
As a socially responsible organization, Ras Al Khaimah Properties actively contributes to the growth and development of the local community. The company engages in corporate social responsibility initiatives, supporting various educational, environmental, and charitable causes. Additionally, it prioritizes sustainable practices in its operations, aiming to minimize the environmental impact of its projects.
With its strong financial performance, extensive expertise, and commitment to excellence, Ras Al Khaimah Properties continues to play a significant role in shaping the real estate landscape of Ras Al Khaimah and the wider UAE.