Abu Dhabi – Mubasher: Rak Properties has named Sameh Al Muhtadi as its new CEO after he joined the company on 22 August 2022, according to a bourse filing.
Al Muhtadi holds a Bachelor’s degree in Civil Engineering from Enfield College in the UK, in addition to a Master’s degree in Construction Management from George Washington in the USA.
The new official gained experience in the real estate sector after working with major companies in the USA, Saudi Arabia, Egypt, and the UAE.
Last year, the ADX-listed firm announced Abdelaziz Abdulla Al Zaabi as the new Chairman of the board.
During the first half (H1) of 2022, Rak Properties witnessed a drop in net profit to AED 25.55 million, compared to AED 119.80 million in the year-ago period.
The company reported revenues worth AED 193.99 million in the January-June 2022 period, lower than AED 265.09 million in H1-21.
