Abu Dhabi – Mubasher: RAK Properties achieved net profits of AED 64.13 million in the first quarter (Q1) of 2021, up by 433% year-on-year (YoY) from AED 12.04 million, the unaudited financial results showed.

The real estate developer’s revenues surged to AED 124.29 million in the January-March period, compared to AED 36.14 million in the year-ago period, according to a bourse disclosure on Monday.

Over the course of 2020, RAK Properties logged net profits of AED 113.522 million, up from AED 93.137 million in 2019.