People Moves: RAK Properties appoints new CEO
Press Release - Real estate developer RAK Properties has appointed a new CEO, Sameh Al Muhtadi, effective this week, the company announced on Wednesday. RAK Properties said in a statement to the Abu Dhabi Securities Exchange (ADX) that Muhtadi has immense experience in the real estate sector across the USA, Saudi Arabia, Egypt, and the UAE.
The role was previously filled by acting CEO Mohammed Al Tair, according to the company's website. The company posted a net loss of AED 4.92 million in the second quarter of 2022, down from a profit of AED 55.67 million year-on-year.