United Arab Emirates-based real estate company RAK Properties PJSC elected Mohammed Hassan Omran as chairman of its board, Abdulaziz Abdullah Al Za'abi as its deputy chairman and Mohamed Sultan Al Qadi as managing director in charge of corporate plans and strategy.

The company also appointed Nawwaf Ghubash Al Merri and Samih Sawirs as members of the board during the second annual general meeting of shareholders.

Concurrently, the company's board also resolved to increase its cash dividend to 6% of its share's 6 United Arab Emirates fils-per-share nominal value, as compared to the previously recommended 5% raise, according to a release.

As of March 19, US$1 was equivalent to 3.67 United Arab Emirates dirhams.