Ras Al Khaimah, UAE, March 31th 2012: RAK Properties PJSC, Ras Al Khaimah’s leading property developer listed on Abu Dhabi Securities Market, has successfully participated in the Earth Hour 2012 celebrations in the UAE that was held on Saturday, March 31, at 8:30 p.m.

Earth Hour is a global event that gathers more than 131 countries worldwide to switch off lights, sending a powerful message for action on climate change.

Commenting on RAK Properties’ participation, His Excellency Mohamed Sultan Al Qadi, Managing Director and CEO of RAK Properties, said, “The Earth Hour day is one of the most popular global events that gathers millions of people around the globe in a common campaign to protect the environment through reduced consumption of energy. Our participation in these celebrations comes under the directive of H.H. Sheikh Saud Bin Saqr Al Qassimi, Supreme Council Member and Ruler of Ras Al Khaimah, and as continuation of our contribution to worthy initiatives. RAK Properties shares the global vision of protecting the environment”.

RAK Properties have participated in this event through its flagship projects: Mina Al Arab, Julfar Towers and RAK Tower. RAK Properties has urged all residents to switch off the lights in parallel with the other residential and governmental buildings in the emirate of Ras Al Khaimah and the other emirates of the UAE.

This global event was originally held in Sydney as the world’s commitment to reduce global warming threat that is facing the planet and to combat the phenomenon of climate change.

The Earth Hour celebrations are held annually every last Saturday of March at 8:30 p.m. counting the different timings between one country and another.

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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.

Ras Al Khaimah, United Arab Emirates, 18^th March 2012: RAK Properties, Ras Al Khaimah’s leading property developer, has commissioned Colliers International, the leading global firm that offers International real estate and global retail consultancy services, to manage the retail development consultancy and leasing operations for the company’s flagship complexes at Julphar Towers and Mina Al Arab.

The dual retail complexes will occupy Julphar Towers’ lower and ground floors and the magnificent Mina Al Arab’s Lagoon area.

Rashed Sultan Al Khatri, Director of Marketing & Sales, RAK Properties, said: “This partnership will boost the retail industry in Ras Al Khaimah in particular and Northern Emirates in general, as international brands are very keen to enter this market and serve the high demand from affluent customers. Moreover, residents of Julphar Towers and Mina Al Arab will be pleased to have international and regional brands across fashion, food, jewellery and luxury items, all in a vibrant environment. Colliers has set the global benchmark for the highest quality retail services and we are delighted to work with them.”

Stuart Gissing, Regional Director, Colliers International Middle East said: “We are very happy to include RAK Properties to our prestigious list of real estate clients in this region. We strongly believe in the potential dynamism of the retail sector in the Northern Emirates as we felt that the demand is strong for brands across the many categories. Ras Al Khaimah has a key role to play in expanding the presence of regional and international brands in the Northern Emirates. With our base strengths and multi-lingual teams of real estate professionals, we are in a strong position to offer a truly professional service driven by our many years of active involvement in the Middle East real estate sector.”

Colliers International is regarded the region’s leader in providing retail consultancy to the real estate industry through a specialized retail consultancy and advisory division.

Through the agreement, Colliers will be in charge of leasing the retail complexes in Julphar Towers and Mina Al Arab by attracting major international and regional retail brands across jewellery, food and beverage, FMCG, fashion, consumer electronics to set up presence in these complexes.

In the Middle East Colliers is widely recognized as market leaders in the fields of retail development advisory and real estate advisory amongst other property core services. It is a global real estate service company with 512 offices in 61 countries worldwide. The firm is one of the largest and most respected real estate service providers in the world and one of the regions longest serving International real estate companies, having been in the UAE since 1996.

Al Khatri added: “Julphar Towers features a number of high quality services to match different personal and professional preferences across its business and residential units. The project has free zone status which is considered a value addition for retail brands.”

Al Khatri pointed out: “The Lagoon area in Mina Al Arab offers an exceptional retail experience to customers who will be enjoying the shopping experience with the scenic sea view alongside the walk-in area in a complex set within an iconic project that is stretched across a 900-meter private beach and covering an area of 3.25 million square meters.”

With panoramic views of pristine beaches, Mina Al Arab provides world class living environment suitable for a healthy lifestyle with jogging tracks, swimming pools, tennis courts, children’s play area and ample open area to feel nature’s freshness.

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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, UAE, 23 February 2012:  RAK Properties, Ras Al Khaimah’s biggest property developer listed on Abu Dhabi Stock Exchange, announced its financial results for the year of 2011 at its annual board meeting held yesterday evening (Wednesday 22nd February, 2012) in Ras Al Khaimah. The Board expressed optimism over the gathering recovery of the UAE real estate sector.

The company has posted a net profit of AED 108,419 million, while its total sales revenue at the end of the 2011 fiscal year amounted to AED 520,568 million.

The profits came from the delivery of major projects, like Mina Al Arab, Julphar Towers and RAK Tower in 2011. This demonstrates RAK Properties’ strong portfolio and growing revenue streams driven by increasing number of units being handed over in key projects.

Commenting on the results, Mohamed Sultan Al Qadi, MD & CEO of RAK Properties: “Major projects were delivered in 2011, leading to a stronger and cordial relationship between RAK Properties and its shareholders and customers. The RAK Properties teams in all departments contributed significantly to this positive scenario.”

We are adding a new revenue stream to our operations by launching retail and leasing services in Mina Al Arab and Julphar Towers in the coming year. We have already started achieving a revenue stream from the leasing of the residential units in three projects located in Ras Al Khaimah and on Al Reem Island in Abu Dhabi,” Al Qadi added.

“The handover of our flagship real estate projects in 2011 proves our leading position in this industry and our contribution to the national economy of the UAE. In addition, delivering these projects on schedule and within budget in 2011 has strengthened the relationship with our clients,” Al Qadi added.

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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.

The open day was aimed at boosting interaction between the company and its customers and strategic partners in a casual setting.

His Excellency Mohamed Sultan Al Qadi, Managing Director and CEO of RAK Properties, said, “We were delighted to welcome our customers to Mina Al Arab and enjoy their weekend with us in Malibu’s pool area, the wonderful and prestigious part of this magnificent project. It was a fruitful interaction with our customers where we have exchanged opinions and insights about the development of the project. The event aimed at boosting the integrated community spirit in the project backed with the strong bonding amongst tenants.”

The event was held in Malibu community of Mina Al Arab which enjoys a panoramic view of pristine beaches, with jogging tracks, swimming pool, tennis courts, children’s play area and ample open area to feel nature’s freshness.

Al Qadi added: “The open day included unique and special events to make our customers and their families develop a bonding with the community, such as kid’s entertainment, games, food and beverages, tour of the premises and networking with company officials.”

Mina Al Arab is a multi-purpose property development facilitated with open spaces including a shopping promenade and varied recreational facilities. The Malibu area where the event was held enjoys an exotic architectural styling, complemented with great views of the beach.

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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.

Ras Al Khaimah, UAE, 11 January, 2012: Gulf Landscape and Irrigation Systems (GLIS), a leading landscaping company owned by Al Khayyat Investments, has announced the completion of the AED 33 Million contract for the landscaping of Precinct 5 at the prestigious Mina Al Arab waterfront project in Ras Al Khaimah.

Mohamed Sultan Al Qadi, Managing Director and Chief Executive Officer of RAK Properties, said: “We are pleased with the smooth and timely delivery of the landscaping of Precinct 5 of Mina Al Arab. The project aimed at beautifying the Mina Al Arab flagship project in Ras Al Khaimah. GLIS was in charge of the designs, construction, completion, maintenance of roads and landscape works in the project.”

The work carried out by GLIS included road works, street lighting, hard landscaping, soft landscaping, irrigation systems, landscape lighting, street furniture, water features, swimming pools and  play area equipment.

Walid Al Wahsh, General Manager, GLIS said: “We are delighted to complete the landscaping at Mina Al Arab along highest standards and as per the requirements of RAK Properties. GLIS and RAK Properties were a distinctive team to deliver this project. We are excited to add this to our illustrious portfolio of magnificent projects we have delivered in the UAE. We are proud that we have contributed to the execution of RAK Properties’ mission of providing world class residential and commercial units to their customers.”

Mina Al Arab is home to an exciting array of themed resorts, all tailored to offer a varied vacation experience. The property gives a panoramic view of picturesque beaches, mountains and beautiful landscape. This project provides world class environment suited for maintaining a healthy lifestyle through amenities like a jogging track, private beach planted with coconut trees, swimming pool, tennis court, children’s play area and ample open spaces to experience nature’s freshness.

Mina Al Arab covers an area of 43 million sq. ft. The community includes small water parks, fitness centers, a marina, adventurous Arabian style theme parks and a traditional souq. It also has numerous residential villas and other residential units designed on a wide range of architectural styles, complemented by world class amenities and facilities.

The precinct 5 is one of the major components of the Mina Al Arab waterfront master community built on the theme of nature, which gave GLIS an ideal opportunity to be highly innovative as far as nature related elements are concerned.

GLIS has world class products, such as garden and landscaping tools, irrigation systems, garden furniture, landscape features, pools and fountains, swimming pools, paving, stones and decking, garden lighting, barbecues, pots and ornaments, grass and plants.

GLIS has executed many landmark projects in U.A.E for prestigious clients such as EMAAR Properties (Burj Khalifa Development), Dubai Festival City (Dubai Festival Center) and Union Properties (Motor City) as well as Dubai Properties, Abu Dhabi Municipality, Abu Dhabi Authority for Culture & Heritage (ADACH) and A Dar (Marina YAS Hotel, Formula One Hotel).

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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.

Ras Al Khaimah, UAE,6^th December 2011: RAK Properties PJSC, Ras Al Khaimah’s biggest property developer listed on Abu Dhabi Stock Exchange, has announced the commencement of the handover of six buildings in Precinct 2 of Mina Al Arab Lagoon District.

The handover of these iconic six buildings, which have different unit types, including studio, 1, 2 bedrooms and garden apartments, backed with world-class amenities, reflects the company’s impressive growth in the UAE.

Mohamed Sultan Al Qadi, Managing Director and CEO of RAK Properties said that most of the units in these buildings were sold previously at an earlier stage, we are delighted to handover the units to the owners.

He added: “Located in a dynamic neighborhood of shops, cafés and cultural gardens, these buildings directly face the lagoon, and the unique tiered design allows residents to enjoy unobstructed views of the sea, no matter where their home is located.”

The company has also started the leasing of the Lagoon Walk shops that will offer a retail mix for Mina Al Arab residents and the wider Ras Al Khaimah community.

RAK Properties is now in the process of choosing retail F&B brands for casual and fine dining and fast food restaurants, as well as Ladies and Gents saloons, beauty and spas, healthcare services and pharmacy, laundry, gym and health club, ladies cosmetics and accessories, kindergarten, coffee shops, flower shops to cater to the needs of its residents as well as the entire emirate.

RAK Properties has already reported high demand for these buildings that are located in a strategic point in the Mina Al Arab flagship community project in Ras Al Khaimah.

One of the unique selling points of Mina Al Arab is the richness of experiences, that extends to the natural surroundings residents and guests will discover as they journey through the development.

Al Qadi added: “The Lagoon Walk shops, where RAK Properties has started leasing spaces serves as an ideal shopping pathway, and acts as a link between the residential communities. It offers a diverse and colorful shopping environment that caters to the needs of everyone in Ras Al Khaimah and beyond.”

RAK Properties said that huge progress has been made on RAK Properties projects in 2011 and the company has ensured timely delivery to business and residential clients backed with superior quality standards.

Underlining the importance of Mina Al Arab, Al Qadi added: “In addition to a range of hotels, resorts and eco-tourism possibilities, Mina Al Arab is made complete by a host of amenities which complement the community and make it the ideal home, or the perfect retreat. From fun activities such as water and family parks, strategically-placed retail locations and facilities to serve the development, Mina Al Arab is a thoughtful meeting of practical amenities and exceptional hospitality for both residents and visitors.”

He added: “Encompassing intimate streets, green spaces, boutiques, cafés and restaurants, our new customers in these six buildings will enjoy close proximity to a variety of activities in a lively, animated environment – all with water views.”

Mina Al Arab, the new waterfront community in Ras Al Khaimah where lush landscaping, protected coastal wetlands and natural pristine beaches blend with homes, hotels and world-class amenities stands for a quintessential vacation experience. Whether used as a primary residence, weekend getaway or vacation retreat, Mina Al Arab is a destination that offers the very best of vacation living.

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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.

Ras Al Khaimah, UAE, 31 October, 2011: RAK Properties has moved its headquarters to Julphar Towers, one of its flagship projects, to better serve its rapidly increasing customer base in the UAE.

The Abu Dhabi-listed real estate development company announced that it will occupy 40^th and 41^st floors of the 45-storey Julphar Towers. The move reflects the company’s rising stature in the emirate of Ras Al Khaimah, following its success in the handover of three mega projects in Ras Al Khaimah and Abu Dhabi.

Earlier this year, RAK Properties commenced the handover of RAK Tower at Marina Square on Al Reem Island in Abu Dhabi as well as 213 premium beachfront villas at Precinct 5 of Mina Al Arab.

Julphar Towers, the tallest and most luxurious towers in Ras Al Khaimah, offers top of the range facilities and amenities. The residential tower boasts 349 luxurious apartments varying from studios to deluxe four-bedroom units as well as duplexes on the upper floors, while the office tower features 468 state-of-the-art offices of various sizes to meet differing work requirements.

Mohammed Sultan Al Qadi, Managing Director & CEO of RAK Properties, said: “We are delighted to move our head office to Julphar Towers, the Ras Al Khaimah’s iconic twin tower. This world class location will help us serve our customers with greater efficiency and professionalism. We would like to invite businesses to open offices in the commercial tower and enjoy the world class services and amenities. Moreover, residential space in the towers is still available, with apartments offering spectacular views of the emirate of Ras Al Khaimah.”

Julphar Towers has been built over a three-storey podium that will provide retail and food outlets with stunning water views, which is set for completion over the coming months.

Julphar Towers features a number of high quality services to match different personal and professional preferences. As the project has free zone status, it provides the business sector with the possibility of establishing companies across various sectors. This makes it an attractive option, with the potential to achieve great success.

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Ras Al Khaimah, UAE, 25^th October 2011: RAK Properties PJSC, Ras Al Khaimah’s leading property developer listed on the Abu Dhabi Securities Market, and United Arab Bank P.J.S.C. (UAB) have signed an MoU for enabling finance for properties developed by RAK Properties.

The tie-up comes at a time when most local banks are looking at Northern Emirates as an ideal market for offering mortgages because many leading flagship projects are at completion stages.

Mohamed Sultan Al Qadi, Managing Director and CEO of RAK Properties said: “UAB’s firm commitment to retail banking and home finance sector encouraged us to enter into this partnership which will ultimately benefit our end-user because of the reasonable interest rates. We are pleased to say that UAB has designed an attracting home finance scheme for RAK Properties’ wide range of customers.”

UAB launched its mortgage product in November 2010 and since then the bank emerged as one of the leading banks in the market in terms of mortgage bookings.

Paul Trowbridge, UAB’s Chief Executive Officer, commented: “Our predominant focus through this MoU is to offer attractive mortgage solutions to UAE nationals and expatriates who are customers of RAK Properties. Some of the key highlights of the mortgage proposition include a most competitive interest rate of 3.99%, conventional & Sharia’h compliant financing solutions and loan amounts up to 85% of the current property value.”

He also added: “Ras Al Khaimah is a key market for the bank and there have been significant efforts made to increase our footprint in terms of branch network expansion as well as strategic tie-ups.”

Tom Smith, UAB’s Executive Vice President, Group Head – Retail Banking added: “RAK Properties is renowned for its commitment towards innovation and quality. It is a matter of pride to work with UAB to provide affordable home finance to customers of the real estate projects developed by RAK Properties”.

Al Qadi added: “The handover of RAK Properties flagship projects provides UAB with an excellent opportunity to offer the company’s customers an exclusive and timely mortgage solution at the handover stage when customers are looking for a banking partner to assist them in taking possession of their dream home.”

RAK Properties has announced earlier this year the commencement of the handover of RAK Tower at Marina Square on Al Reem Island in Abu Dhabi as well as two hundred and thirteen prestigious beach front villas at the Precinct Five of Mina Al Arab.

Current property prices and a lower interest rate environment now make taking a mortgage more affordable. In addition, the last few years the market changed from being investor-driven to an end-user market and customers now have a long term commitment to the Region.

Tom Smith stated: “We are confident this rate will encourage more customers to realize their dream of owning a property through RAK Properties which is renowned of its high commitment to quality. In addition we believe this will energize the property market and accelerate its revival.”

He also added: “UAB extends mortgage facility on completed properties across all Emirates. Being a 36 year old local bank, we understand the UAE market better and see potential mortgage opportunities across Ras Al Khaimah. This is aligned with the bank’s overall strategy to offer customers an attractive value proposition.”

Tom Smith concluded: “Existing and new owners can opt for the credit facilities offered by UAB. Financial solutions are available to cover their entire or partial payment or even the final instalment.”

UAB is part of a GCC regional banking alliance since December 2007 upon acquisition of a 40% interest in UAB by The Commercial Bank of Qatar (CBQ). With the Commercial Bank of Qatar concluding a similar alliance with National Bank of Oman (NBO) two years ago, all three banks are strongly positioned for future growth.

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.

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Hülsta to equip a ‘show villa’ in Mina Al Arab with distinctive designs

Ras Al Khaimah, UAE, 10th October 2011: RAK Properties PJSC, Ras Al Khaimah’s leading property developer, has partnered with HÜlsta Furniture, the German leader in furniture manufacturing, to offer customers of Mina Al Arab world class interiors.

As part of the agreement, Hülsta will design the interiors and furniture of a show villa in Mina Al Arab for demonstration purposes.

Ludwig Hüls, CEO, owner and grandson of the founder, Hülsta said: “Hülsta is delighted to enter into a partnership with RAK Properties which is a leading real estate developer in the UAE. We share with RAK Properties similar leadership position and same values when it comes to serving our customers and enhancing their ROI.”

Rashed Sultan Al Khatri, Director of Marketing & Sales, RAK Properties, said: “This partnership with Hülsta will yield good dividends to the customers of Mina Al Arab by having large discounts and superior service from the German company which is renowned globally for its high quality products. Hülsta has set the global benchmark for the highest quality furniture and we are glad to work with them.”

Furncon, sister company of Hülsta and InvestiQ manage interests of Hülsta in Ras Al Khaimah, whereas Furncon has been created to pool the strength of all Hülsta brands and InvestiQ, is the sole representative of Hülsta for all project and contracting activities in this region.

Just a month ago, RAK Properties began the handover of 214 architecturally unique beachfront villas in Mina Al Arab to their owners. This deal will benefit both future and existing customers of Mina Al Arab.

Hülsta has seen many changes since it was founded in 1940. However, its commitment to quality has always remained unchanged.

Stretched across a 900-meter private beach and covering an area of 3.25 million square meters, Mina Al Arab is ideally situated on Ras Al Khaimah’s coastline. With panoramic views of pristine beaches, the development provides world class living environment suitable for a healthy lifestyle with 2.2 km jogging tracks, 250 sq. m. swimming pool, tennis courts, children’s play area and ample open area to feel nature’s freshness. The community development has 60 per cent open and landscape areas.

Andreas Venhoff, Technical Management, furncon added: “Hüls Group’s more than 4.000 employees produce high quality furniture in 20 factories in Germany for the entire world. Hülsta’s creations are launched in the market only after being subjected to rigorous tests. We will help Mina Al Arab customers to create their very own inspiring new designs for their homes.”

RAK Properties and Hülsta will be organising a joint event at which consulting activities will be offered on complementary basis by Hülsta/furncon. Moreover, interior layout plans will be provided as a free advice in future events to be organised by both companies in Ras Al Khaimah.

Hinrich Missfeldt, General Manager, InvestiQ added: “Hülsta’s brands are created for customers who know what life is all about and who value high quality. Our extensive choice of 60 furniture ranges with finishes stretching from high glossy lacquer to solid wood provide endless design ideas. We offer design solutions for young and flexible customers, reflecting the spontaneous attitude towards modern life.”

Hülsta furniture stands for quality. The company’s furniture is exclusively manufactured in Germany and sold to customers worldwide.

Al Khatri added: “Hülsta furniture will compliment the Mina Al Arab Malibu inspired villas which have been designed with exotic architectural styling, complemented with great views of the beach.”

Mina Al Arab is a multi-purpose property development facilitated with 310 hectares of open spaces, including a shopping promenade and varied recreational facilities.

Missfeldt added: “We will provide Mina Al Arab customers with timeless, beautiful shapes and long-lasting products that will help them to create an exceptional and aesthetic home.”

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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.

Ras Al Khaimah, UAE, xx August 2011: RAK Properties PJSC, Ras Al Khaimah’s leading property developer that is listed on the Abu Dhabi Securities Market, has added two hundred and fourteen prestigious beach front villas at the Precinct Five of Mina Al Arab.

Commenting on the handover of the beach front villas, Mohamed Sultan Al Qadi, Managing Director and CEO of RAK Properties, the company behind the development of prestigious manmade islands, said, “We are delighted to hand over these architecturally unique beach front villas to their home owners. The community stretches across nine hundred meters long private beach. The project adds a feel of tranquillity and peace into the lifestyle of its residents. We look forward to creating a self sufficient community within Ras Al Khaimah.”

Mina Al Arab is ideally situated on Ras Al Khaimah’s coastline, covering an area of 3.25 million square meters. With panoramic view of pristine beaches, the development provides world class living environment suitable for healthy lifestyle with 2.2 km jogging tracks, 250 sqm swimming pools, tennis courts, children’s play area and ample open area to feel nature’s freshness. The community development has sixty per cent of open and landscape areas and the remaining are residential.

Al Qadi added, “These beach front villas have mainly been sold to end users, hence we know their expectations and have worked towards achieving them. We hope that with the panoramic view of the clean beaches, mountains and beautiful landscape, our home owners, find solace in what they are looking for. Mina Al Arab is home to an exciting array of themed resorts, all tailored to offer a varied vacation experience.”

Supported by world class amenities, the Malibu inspired villas have been designed with exotic architectural styling, complemented with a great views of the beach. Mina Al Arab is a multi-purpose property development facilitated with 310 hectares of open spaces including a shopping promenade and varied recreational facilities.

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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.