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News

RAK Properties launches world-class customer service centre

Thursday, August 22nd, 2013

The newly setup centre demonstrates Ras Al Khaimah’s real estate industry’s drive towards global best practices

Ras Al Khaimah, UAE, 24 August 2013: RAK Properties, Ras Al Khaimah’s leading property developer listed on Abu Dhabi Stock Exchange, has launched its first customer service centre equipped with customer-friendly world-class communications facilities and information services.

The new centre is located on the 40th floor of Julphar Towers, one of the most outstanding projects of RAK Properties in Ras Al Khaimah. The centre offers a wide range of services, including answering queries and providing feedback through the following number +97172337133.

Mohammed Sultan Al Qadi, Managing Director and CEO of RAK Properties said: “We strive to maintain higher levels of qualitative services by adopting best world class practices. We believe that this addition will further strengthen the prominent position held by RAK Properties on the real-estate developer’s map in the Middle East region. This centre will enhance the service quality for the increasing number of customers.”

He added: “The new customer service centre demonstrates RAK Properties’ drive towards opening transparent channels with customers to listen to their feedback and  queries on any of the provided services”

RAK Properties customer service centre can be contacted within the UAE or from the region on +97172337133. The staffs are dedicated to answer customers around the week during working hours.

It is worth mentioning that RAK Properties is in the process of launching a number of electronic and mobile services to its customers in order to facilitate communication and provide better services.

RAK Properties has developed major real-estate projects in Ras Al Khaimah and Abu Dhabi, such as Julphar Towers, RAK Tower in Al Reem Island in Abu Dhabi and Mina Al Arab, a top tourism destination spread over a vast landscaped area.  The company is an active supporter of the vision of Ras Al Khaimah government in the real-estate and tourism development sector in the Emirate.

Editors Note:

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 in the UAE in general and Ras Al Khaimah in particular. The company launched its first project, Julfar Towers – a 45-storied twin office and residential project at a cost of AED 500 million – in February 2006 followed by Mina Al Arab – spread over 43 million sq. feet at a cost of AED 10 Billion – in May 2006. It also launched RAK Tower in Abu Dhabi at Cityscape Dubai.

RAK Properties posts net profit of AED 51.10 million in second quarter year 2013

Sunday, July 28th, 2013

Ras Al Khaimah, UAE, 28th July 2013: RAK Properties, Ras Al Khaimah’s biggest property developer listed on Abu Dhabi Stock Exchange, has earned a net profit of AED 51.10 million in the second quarter of 2013.

These financial results were announced following the meeting of the Board of Directors of RAK Properties that was held late yesterday (Sunday 28th July 2013).The Board agreed on settling the loan payment of AED 100 million to Ras Al Khaimah Investment and Development Office.

Commenting on the financial results of year 2013 second quarter, Mohammad Sultan Al Qadi, Managing Director and CEO, RAK Properties attributed the results to the growing demand on the company’s mega projects including Mina Al Arab, Julphar Towers and RAK Tower in Abu Dhabi.”  Al Qadi added that the residential and commercial units in these projects have witnessed high demand from investors and end-users alike. This comes at a time where the real estate sector in Ras Al Khaimah and the wider UAE is enhancing its position on the global and regional fronts.

RAK Properties has remarkably progressed in renting apartments, offices and retail spaces in its projects in Ras Al Khaimah and Abu Dhabi. The board of directors discussed the company’s plans for the second half of 2013 as well as 2014 where the company will sustain its leading position in providing quality driven services and maximizing the ROI of its customers.  RAK Properties will focus on furthering its operations especially that it is under the process of settling the loan payment of AED 100 million to Ras Al Khaimah Investment and Development Office as decided by the board of directors.

The real estate industry in Ras Al Khaimah is witnessing overwhelming confidence from investors and end-users alike according to Al Qadi.

Al Qadi said that RAK Properties realizes the massive potential of the hospitality and retail industries in Ras Al Khaimah and it adopts a clear strategy based on combining the values of these two industries with the real estate sector to enhance the leading position of Ras Al Khaimah on the regional map as an attractive spot for regional and international investments.

As per the financial results announced Sunday (28th July 2013), sales revenue in second quarter of 2013 reached AED 110.52 million, compared to previous year’s figure of AED 451 million for the same period.

Al Qadi said that Mina Al Arab will command the lion’s share of the company’s focus in the coming period taking into consideration the significance and magnitude of this project and its relevance to the tourism and hospitality sectors as well as retail.

Al Qadi said that his company anticipates remarkable financial results for second half of 2013. He added that the company prioritizes developing its business and operations in Ras Al Khaimah which will achieve optimal results to its shareholders.

-ends-

Editors Note:

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 in the UAE in general and Ras Al Khaimah in particular. The company launched its first project, Julfar Towers – a 45-storied twin office and residential project at a cost of AED 500 million – in February 2006 followed by Mina Al Arab – spread over 43 million sq. feet at a cost of AED 10 Billion – in May 2006. It also launched RAK Tower in Abu Dhabi at Cityscape Dubai.

RAK Properties’ Board of Directors to announce 1st half financial results on 28 July

Tuesday, July 23rd, 2013

Meeting to discuss loan payment of AED 100 million to RAK Investment and Development Office

Ras Al Khaimah, UAE, 23 July 2013: The Board of Directors of RAK Properties , Ras Al Khaimah’s biggest property developer listed on Abu Dhabi Stock Exchange, will meet on Sunday (28 July 2013) to announce the financial results of the first half of 2013.

The Board will also put up for discussion the mechanism of settling the loan payment of AED 100 million to Ras Al Khaimah Investment and Development Office. Moreover, the meeting will outline company’s plans for the second half of the year.

Mohamed Sultan Al Qadi, MD & CEO of RAK Properties , said: “In the light of the positive trends in the UAE real-estate sector and in keeping with the vision of Ras Al Khaimah government, we anticipate positive results due to our expanded operations and our recent diversification of services. We are pleased to announce that the company is dynamically poised for the next phase of growth.”

Recently, RAK Properties entered the retail industry and as a result leading retail names like ‘Choithram’, ‘Fitness First’ and ‘Costa Coffee’ have launched operations in the company’s projects.

-ends-

Editors Note:

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 in the UAE in general and Ras Al Khaimah in particular. The company launched its first project, Julfar Towers – a 45-storied twin office and residential project at a cost of AED 500 million – in February 2006 followed by Mina Al Arab – spread over 43 million sq. feet at a cost of AED 10 Billion – in May 2006. It also launched RAK Tower in Abu Dhabi at Cityscape Dubai.

RAK Properties unveils Mina Al Arab Ramadan tent

Wednesday, July 10th, 2013

RAS AL KHAIMAH, July 9th, 2013. RAK Properties, Ras Al Khaimah’s biggest property developer listed on Abu Dhabi Stock Exchange, has launched its first-ever Mina Al Arab Ramadan tent in association with Global, a company that specializes in hotel management.

The new tent is located in the Lagoon area of Mina Al Arab project, a prominent development in the region.

The tent, which will be open daily during the 30 days of Ramadan, was launched in presence of Rashed Sultan Al Khatri, Director of Sales and Marketing, RAK Properties, and representatives from local and regional media.

This is the first time that RAK Properties has introduced such a facility in its project, which marks the company’s new strategy to diversify its services for the benefit of customers and tourists.

Al Khatri said, “The tent is operated by a professional hospitality and services team. We have selected The Lagoon area as the perfect location in Mina Al Arab with easy access. This tent will be one of the largest in the Northern Emirates.”

RAK Properties has entered into many partnerships to raise the quality of its hospitality and retail services and enhance the attractions of its projects like Julfar Towers, Mina Al Arab and RAK Tower in Al Reem Island, Abu Dhabi.

-ends-

Editors Note:

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 in the UAE in general and Ras Al Khaimah in particular. The company launched its first project, Julfar Towers – a 45-storied twin office and residential project at a cost of AED 500 million – in February 2006 followed by Mina Al Arab – spread over 43 million sq. feet at a cost of AED 10 Billion – in May 2006. It also launched RAK Tower in Abu Dhabi at Cityscape Dubai.

Seabream, Hamour released into Mina Al Arab reserve

Monday, June 17th, 2013

RAS AL KHAIMAH, June 17th, 2013.

Steps are being taken to preserve aquatic life in the UAE. A delegation from the Environment Protection and Development Authority (EPDA) visited Mina Al Arab Reserve at Muzahmi Creek and released 9,600 ‘Silver Seabream’ and 1,000 ‘Hamour” fishes.

According to EPDA, the area is the ideal location for this project as it is full of reserves, coves and mangroves. The presence of a large number of mangroves in ‘Al Muzahmi’ will help these species adapt to natural life and increase the overall fish wealth in the UAE.

The Hamour has been known as the species that battles for survival. In 2005 it was revealed that Hamour, a favourite among nationals, could be facing extinction. The study, carried out by Dr Mike Rimmer and translated into Arabic by Yasser Mohammad Al Hassan, a researcher, recommended the use of nets with large holes while fishing to allow the Hamour to survive.

Mohammed Sultan Al Qadi, Managing Director and CEO of RAK Properties said: “We are delighted to contribute to the environment conservation initiatives being run in Ras Al Khaimah. We will continue to support all measures and programmes designed to protect natural resources and boost fish wealth in the UAE.”

Dr. Saif M Al Ghais, Executive Director of the EPDA, said: “We have selected Mina Al Arab Reserve as it is considered an ideal area for nursing the ‘Silver Seabream’ before they are transferred to the fishery inventory.”

-ends-

Editors Note:

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 in the UAE in general and Ras Al Khaimah in particular. The company launched its first project, Julfar Towers – a 45-storied twin office and residential project at a cost of AED 500 million – in February 2006 followed by Mina Al Arab – spread over 43 million sq. feet at a cost of AED 10 Billion – in May 2006. It also launched RAK Tower in Abu Dhabi at Cityscape Dubai.

RAK Properties offers sales packages giving full ownership to UAE residents over two and three year periods

Thursday, May 9th, 2013

Ras Al Khaimah, UAE, 9 May 2013: RAK Properties, Ras Al Khaimah’s biggest property developer listed on Abu Dhabi Stock Exchange, has launched sales packages for UAE residents allowing them full ownership of units in Mina Al Arab, Julfar Towers in the Emirate of Ras Al Khaimah.

The packages are split in two options: pay 25% of the total unit price and the rest in two-year installment, or pay 35% of the unit price and finalize the rest as installments over 3 years. These packages are offered for limited number of units in RAK Properties projects.

Rashed Sultan Al Khatri, Director of Marketing & Sales in RAK Properties said: “We are offering convenient payment packages to our customers to boost their investment revenues. Due to the customized sales and marketing strategy, we anticipate a significant increase in unit sales in the coming period.”

Al Khatri expect huge growth potential in the real-estate sector in Ras Al Khaimah and Northern Emirates, thanks to the well developed infrastructure and the transportation links to other parts of the country.

RAK Properties has developed leading real-estate projects in Ras Al Khaimah and Abu Dhabi, such as Julfar Towers, RAK Tower in Al Reem Island in Abu Dhabi and Mina Al Arab which is a project spread over a vast landscaped area and is increasing gathering interest as an ideal tourism destination.

-Ends-

Editors Note:

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 in the UAE in general and Ras Al Khaimah in particular. The company launched its first project, Julfar Towers – a 45-storied twin office and residential project at a cost of AED 500 million – in February 2006 followed by Mina Al Arab – spread over 43 million sq. feet at a cost of AED 10 Billion – in May 2006. It also launched RAK Tower in Abu Dhabi at Cityscape Dubai.

RAK Properties posts net profit of AED 40.1 million in first quarter of 2013

Tuesday, April 30th, 2013

The net profit amounts to 27.29 % of the total 2012 profit

 

Ras Al Khaimah, UAE, 30 April 2013: RAK Properties, Ras Al Khaimah’s biggest property developer listed on Abu Dhabi Stock Exchange, has earned a net profit of AED 40.1 million in the first quarter of 2013. The net profit amounts to 27.29 % of the total 2012 profit

Mohamed Sultan Al Qadi, MD & CEO of RAK Properties, said: “We expect further growth in our operations for the rest of the year, driven by the overall positive sentiment in the real estate sector in the Emirate of Ras Al Khaimah and the UAE in general.”

“The coming period is very promising as units in Mina Al Arab, Julphar Towers and RAK Tower in Abu Dhabi have shown accelerated demand as well as there is an increase in the number of retail outlets booking spaces in our projects.” 

RAK Properties has added a new line to the overall revenue model by developing retail complexes. As a result, leading retail names like ‘Choithram’, ‘Fitness First’ and ‘Costa Coffee’ have launched operations.  The company is expecting more retail launches in the coming period.

RAK Properties is supporting Ras Al Khaimah Government plans to contribute to the development of the real estate and tourism sector in the emirate.

 

Editors Note:

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 in the UAE in general and Ras Al Khaimah in particular. The company launched its first project, Julfar Towers – a 45-storied twin office and residential project at a cost of AED 500 million – in February 2006 followed by Mina Al Arab – spread over 43 million sq. feet at a cost of AED 10 Billion – in May 2006. It also launched RAK Tower in Abu Dhabi at Cityscape Dubai.

‘COSTA’ launches new outlet in RAK Properties’ Julfar Towers, its third in the Emirate

Thursday, April 25th, 2013

Ras Al Khaimah is attracting leading retailers such as ‘Choithram’, ‘Fitness First’

Ras Al Khaimah, UAE, 25 April 2013: COSTA Coffee, one of the world’s largest coffeehouse chains, has launched an outlet in Julfar Towers of RAK Properties, the biggest property developer in Ras Al Khaimah listed on the Abu Dhabi Securities Market. 

Costa Coffee joins other leading retail brands including ‘Choithram’ and ‘Fitness First’ which has set up shops in RAK Properties’ projects in the emirate.

Commenting on the strategy of selecting retail brands for their projects, Mohamed Sultan Al Qadi, Managing Director and CEO of RAK Properties said: “We are guided by a clear vision while selecting retailers, for both the business and community users. We partner with retailers whose brands are in sync with the spending power and lifestyle of our residents, tenants and visitors.”

“We found COSTA the ideal coffee chain for Julfar Towers. We have selected a location that would be convenient to both business and community users. We will continue to provide residents and visitors of RAK Properties the best retail options available around,” added Al Qadi.  This is the third ‘COSTA’ shop in Ras Al Khaimah and the first in a RAK Properties’ projects. The location in Julfar Towers offers a picturesque sea view.

RAK Properties has added a new revenue stream by developing retail complexes in its projects like Julfar Towers, RAK Tower on Reem Island in Abu Dhabi and the Mina Al Arab project.

Julfar Towers is the tallest and most luxurious structure in Ras Al Khaimah, offering top of the range facilities and amenities. Julfar Towers has been built over a three-storey podium that provides retail and food outlets with stunning water views.

COSTA is considered one of the leading coffee shop chains in the world and a preferred option in the GCC. The company has expanded widely in the Arab countries and has strong presence in the UK, and other countries in Europe and North America.

 

Editors Note:

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 in the UAE in general and Ras Al Khaimah in particular. The company launched its first project, Julfar Towers – a 45-storied twin office and residential project at a cost of AED 500 million – in February 2006 followed by Mina Al Arab – spread over 43 million sq. feet at a cost of AED 10 Billion – in May 2006. It also launched RAK Tower in Abu Dhabi at Cityscape Dubai.

RAK Properties to join Earth Hour 2013 in UAE on Saturday 23rd March

Friday, March 22nd, 2013
Al Qadi: “The event aims at raiseing awareness of reducing  energy consumption in the community”

Ras Al Khaimah, UAE, 22 March 2013: As part of its support to environment-oriented initiatives, RAK Properties PJSC is participating in the Earth Hour 2013 which will be held on Saturday, March 23, from 8:30 pm to 9:30 pm.
Commenting on RAK Properties’ participation, His Excellency Mohamed Sultan Al Qadi, Managing Director and CEO of RAK Properties, said, “For RAK Properties, as a responsible real estate company, the conservation of natural resources always takes top priority. The Earth Hour is a global campaign aiming at protecting the environment by raising awareness of the importance of energy conservation.  We are delighted to take part in this global initiative along with other public and private organizations in the UAE.”
RAK Properties will be participating in this event through its flagship projects: Mina Al Arab, Julfar Towers and RAK Tower where street lights, common area and non essential house lights are going to be switched off for one hour. RAK Properties has urged all residents to switch off the along with other residential and governmental buildings in the emirate of Ras Al Khaimah and the other emirates.
The Earth Hour is held annually every on the last Saturday of March at 8:30 p.m.as per the respective timings of each country.
Earth Hour is a global event that sends a powerful message for action on combating climate change and reducing the global warming threat that is facing the planet.

Al Qadi: “The event aims at raiseing awareness of reducing  energy consumption in the community”Ras Al Khaimah, UAE, xx March 2013: As part of its support to environment-oriented initiatives, RAK Properties PJSC is participating in the Earth Hour 2013 which will be held on Saturday, March 23, from 8:30 pm to 9:30 pm.

Commenting on RAK Properties’ participation, His Excellency Mohamed Sultan Al Qadi, Managing Director and CEO of RAK Properties, said, “For RAK Properties, as a responsible real estate company, the conservation of natural resources always takes top priority. The Earth Hour is a global campaign aiming at protecting the environment by raising awareness of the importance of energy conservation.  We are delighted to take part in this global initiative along with other public and private organizations in the UAE.”

RAK Properties will be participating in this event through its flagship projects: Mina Al Arab, Julfar Towers and RAK Tower where street lights, common area and non essential house lights are going to be switched off for one hour. RAK Properties has urged all residents to switch off the along with other residential and governmental buildings in the emirate of Ras Al Khaimah and the other emirates.The Earth Hour is held annually every on the last Saturday of March at 8:30 p.m.as per the respective timings of each country.

Earth Hour is a global event that sends a powerful message for action on combating climate change and reducing the global warming threat that is facing the planet.

-ends-

Editors Note:

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 in the UAE in general and Ras Al Khaimah in particular. The company launched its first project, Julfar Towers – a 45-storied twin office and residential project at a cost of AED 500 million – in February 2006 followed by Mina Al Arab – spread over 43 million sq. feet at a cost of AED 10 Billion – in May 2006. It also launched RAK Tower in Abu Dhabi at Cityscape Dubai.

RAK Properties approves dividend of 5 fils per share

Sunday, March 17th, 2013

RAK Properties, Ras Al Khaimah’s biggest property developer listed on Abu Dhabi Stock Exchange, approved a dividend of 5 fils per share at its General Body Meeting held today in Hilton Ras Al Khaimah Hotel.

The meeting further approved the Board of Directors report on the company’s activities and financial performance for the fiscal year ended December 31, 2012.

The meeting also voted for and approved the external auditor report for the same period and discussed and approved the balance sheet and the profit and loss statement.

The shareholders approved the proposal of the Board of Directors to distribute a cash dividend to the shareholders, equivalent to 5 per cent of the capital.

They also approved the Board member’s remuneration and discharged the directors and auditors from liabilities for the 2012 fiscal year. Moreover, they re-appointed external auditors for the fiscal year of 2013 and approved their fees.

Mohamed Sultan Al Qadi, Managing Director & CEO of RAK Properties, said: “We are pleased with the extensive and detailed discussions that took place in the general body meeting. Shareholders expressed their satisfaction over the performance of the company in 2012.

“We also shared with them the vision of the Board of Directors and its ambitious plans to sustain the growth momentum of the company not only in Ras Al Khaimah but also nationwide in 2013.”

RAK Properties announced last February its financial results for fiscal year that ended on 31st December 2012, where its net profit rose 35.6 per cent to reach Dh147 million, compared to Dh108.4 million in 2011.

The rise in profits for 2012 fiscal year came from increased demand for RAK Properties’ key projects, including Mina Al Arab, Julphar Towers and RAK Tower in Abu Dhabi as well as its early settlement of its Dh184 million loan with Ras Al Khaimah Investment and Development Office of Ras Al Khaimah Government.

RAK Properties recorded an increase in growth of residential, commercial and retail lease in 2012 which, according to Al Qadi, reflects the anticipated continual growth for the company in the coming period.

-ends-

Editors Note:

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 in the UAE in general and Ras Al Khaimah in particular. The company launched its first project, Julfar Towers – a 45-storied twin office and residential project at a cost of AED 500 million – in February 2006 followed by Mina Al Arab – spread over 43 million sq. feet at a cost of AED 10 Billion – in May 2006. It also launched RAK Tower in Abu Dhabi at Cityscape Dubai.