The company boosts investments in new residential projects driven by increased demand
Ras Al Khaimah, UAE, 5 October 2013: RAK Properties, Ras Al Khaimah’s biggest property developer listed on Abu Dhabi Stock Exchange, is planning to launch two new iconic projects with an investment of approximately AED 400 million on the first day of Cityscape Global 2013.
Mohamed Sultan Al Qadi, Managing Director and CEO of RAK Properties said: “We will be showcasing a wide portfolio of projects during Cityscape Global this year. This will be our strongest participation to date focused on promoting our completed projects as well as announcing our new residential investments for those looking for ideal luxurious stays in the emirate of Ras Al Khaimah.”
“After a series of successful projects like Julphar Towers, RAK Tower in Al Reem Island in Abu Dhabi and the leading Mina Al Arab project, we are adding up new innovative projects. Our main focus now is on residential projects to meet the increased demand in the emirate due to population growth and the wider attention the emirate is getting regionally.”
“Being a major real-estate developer in Ras Al Khaimah and the Northern Emirates in particular and the UAE in general, we are extremely confident about the impact these two new projects will have on the sector as well as on our investors and end users.”
Senior officials from RAK Properties will be present at the RAK Properties stand number 6E20, Hall number 6 at Cityscape Global to address queries and interact with potential buyers and existing customers.
Cityscape Global 2013 will feature participation from leading companies in the real-estate industry, including experts, investors and real estate marketing companies,in addition to pioneering developers and stakeholders from the UAE and the region as well as international firms.
The show will also be home for some new entrants to the region participating for the first time, and will also witness strong comeback of major players in this industry.
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.