The financial statements of Ras Al Khaimah Real Estate Company showed an increase in its profits during 2021 by 77% to reach 201.5 million dirhams, compared to profits of 113.5 million dirhams in 2020.
According to the company’s data, its revenues rose to 515.6 million dirhams during the past year, compared to revenues of 243.5 million dirhams in the previous year, an increase of 112%.
The cost of revenue fell during 2021 to 320.69 million dirhams, compared to a cost of 159.52 million dirhams in 2020.
The company’s board of directors approved the audited financial statements for the year 2021 and proposed not to distribute dividends.
The Board also decided to call the annual general assembly of the company to convene on March 19, 2022.
