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Ras Al Khaimah, UAE: Mohammed A Qadi, the Managing Director and CEO of RAK Properties PJSC, Ras Al Khaimah’s largest property developer listed on the Abu Dhabi Stock Exchange, has been recognised as one of the GCC’s Top 100 CEOs.
Credited for his efforts towards the success of the company and contribution to the GCC’s economic growth, Mohammed Al Qadi, was honoured during the Top CEO Awards 2017 alongside senior regional business figures from a wide cross-section of regional industries. The prestigious event, held at Bay La Sun in King Abdullah Economic City, Saudi Arabia, highlighted business heads judged to have excelled in the field of leadership.
“It is a great honour to be recognised among so many reputable and prestigious peers from across the region. With property developments across the region continuing to serve as shining beacons for the GCC’s ongoing development and prosperity, it has been a truly rewarding journey playing a part in the transformation of Ras Al Khaimah and I am immensely proud of leading RAK Properties through this exciting chapter of the emirate’s growth,” said Al Qadi.
The awards, organised by TRENDS magazine in conjunction with INSEAD business school, honours business heads and CEOs of firms listed on the stock exchanges of Saudi Arabia, the UAE, Qatar, Bahrain, Kuwait and Oman.
Commenting on the awards, Julien Hawari, Co-CEO at Mediaquest, the company behind the initiative, said: “Top CEO Awards distinguishes itself from other schemes by stipulating that only CEOs of listed companies are eligible for entry. The fully transparent and audited evaluation process being these awards is based on the financials of companies and the enigmatic leadership and astute business acumen of the CEOs overseeing their firms’ accomplishments.”
Al Qadi’s second successive Top CEO Awards recognition comes after RAK Properties reported revenues in excess of AED 390 million in 2016 - a year-on-year increase of 5.98 per cent on the AED 368 million accrued in 2015. This equated to a net operating profit of AED 175 million, compared to AED 160 million in 2015.
Al Qadi continues to oversee major milestones for RAK Properties, which is pushing forward its flagship Mina Al Arab development in 2017. The ongoing progress of Mina Al Arab follows the celebration of key milestones in 2016, including the handover of the second phase of Flamingo Villas two months ahead of schedule last October, and the announcement of AED 5 billion to develop its small island project, which will boast the recently announced 306-key Anantara Mina Al Arab, Ras Al Khaimah, and 350-key InterContinental® Ras Al Khaimah Mina Al Arab Resort.
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RAK Properties, a Public Joint Stock Company listed on the Abu Dhabi Securities Market, is a real estate development company established to implement the emirate’s plans to promote real estate, tourism and leisure facilities in RAK and invest in interesting projects. It is intended that its activities will encourage economic growth across the UAE and particularly in Ras Al Khaimah. The company successfully delivered its first project with the delivery of RAK Tower. This was followed by Julphar Towers – a 45-storied twin office and residential project at a cost of AED 500 million in February 2006. The exclusive waterfront living project Mina Al Arab – spread over 43 million sq. feet at a cost of AED 10 Billion – was launched in May 2006.
The company utilised Cityscape Dubai to announce its Mina Al Arab Island - the new social hub for Ras Al Khaimah, with an estimated cost of AED 5 billion.
For more information, please visit www.rakproperties.net
Press contacts:
The MCS Action PR team
Daniel Andrews/ Samer El Zein/ Parisa Bukhowa
+971 (4) 390 2960
daniel.a@actionprgroup.com
samer.z@actionprgroup.com
parisa.b@actionprgroup.com
© Press Release 2017
