Abu Dhabi – Mubasher: The UAE-based RAK Properties is looking to expand in Hayat Island by establishing recreational facilities.
The property developer will implement these projects by collaborating with a British company specialising in real estate development, according to a statement.
The projects are forecast to attract a large number of tourists, RAK Properties noted, giving no further details on their value and timeframe.
In the first half of 2018, RAK Properties reported a profit drop, logging AED 29 million, compared to AED 62 million during H1-17.
The Emirati real estate developer’s profit fell to AED 4.33 million in Q2-18, compared to AED 21.8 million in the corresponding quarter last year.