RACK PROPERTY IN VIJAYA ROAD | Rack properties, methods of winning

MB Anisuddin

Rack Properties posted a profit of AED 2.57 crore in the first half of this year. Assets earlier this year were 602 crore dirhams, which increased to 623 crore dirhams in the second quarter. RAK Properties, which ranks first on the list of non-oil sources of income for the UAE, began operating in 2005 following the directive of Sheikh Saud bin Qasimi, a member of the UAE Supreme Council and ruler of Ras Al Khaimah. Developing innovative projects and executing them accurately is what guides Rack Properties on the path to success. Rack Properties has distinguished itself in the commercial field as a trusted partner of foreign investors. Rack Properties has many projects in the residential and commercial sector including resorts, luxury hotels and shopping malls. The law that allows 100% real estate ownership to foreign investors is beneficial to Rack Properties. The interesting factor for entrepreneurs is the potential gain from investing in Rack Properties, which is listed on the Abu Dhabi Stock Exchange. The real estate and tourism sectors are at the forefront of the sectors that will gain after the Covid crisis. The importance of Ras Al Khaimah on the entertainment map is a plus for Rack Properties. Rack Properties is aiming for $ 136.1 million in sales by the end of this year. There are also plans to launch several residential projects. Chief among the new projects is the Dh 10 billion integrated resort project. New UAE government reform measures, starting with the Golden Visa, are promising for Rack Properties.

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