RAK Properties, the largest property developer in Ras Al Khaimah, will underscore the growth potential offered by the property sector of the emirate at Cityscape 2006, the premier property investment and development event to be held at Dubai International Exhibition Centre from December 4 to 6.
“Ras Al Khaimah is a relatively new entrant to the burgeoning property market of the UAE and offers untapped growth potential,” said Mr Mohammed Sultan Al Qadi, Managing Director, RAK Properties. “The emirate’s current thrust on all-rounded development, including tourism, media and retail, complements the growth in the real estate sector. We want to reiterate this growth potential by showcasing our up-and-coming projects at Cityscape.”
Mr Al Qadi added: “Cityscape attracts several high net worth local and global investors who seek alternative investment options in the UAE. The exhibition had yielded strong investor response for RAK Properties last year – the very first year of our inception. Our premier projects, Julfar Towers and Mina Al Arab, have gained overwhelming response from investors worldwide and Cityscape will be a perfect showcase its projects to further the appeal of these projects to a wider audience.”
RAK Properties launched its first project, Julfar Towers, the 43-storeyed twin office and residential towers of development value AED500 million in February 2006 followed by the AED10 billion Mina Al Arab, spread over 30 million sq. feet, in May 2006.
RAK Properties, a Public Joint Stock Company listed on the Abu Dhabi Securities Market, is a real estate development company that operates in a sector that is enjoying an economic boom. It is 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 43-storied twin office and residential project at a cost of AED500 million - in February 2006 followed by Mina Al Arab - spread over 30 million sq. feet at a cost of AED 10 Billion - in May 2006.
© 2006 Al Bawaba (www.albawaba.com)
