Ta’sees, a UAE-based development and investment company announced today (Thursday, November 16, 2006), the launch of Ras Al Khaimah’s AED 1 billion Airport Towers project at a press conference held at the Madinat Jumeirah’s Mina A’Salam hotel. The project, situated in the Ras Al Khaimah Airport Free Zone near the RAK airport, will not only be instrumental in driving increased commerce and tourism to the emirate but will also function as a business services nexus.
The launch was attended by Saad Ibrahim Al Moosa, President of Ta’sees; Eng. Mohammad Saleh, President of Al Aqariya Group; Oussama El Omari, CEO, Ras Al Khaimah Free Trade Zone (RAKFTZ) Authority and Eng Hisham Abdul Ghani, Chairman A&A Investment.
The Airport Towers project consists of 10 commercial towers, each one comprising 10 floors, in addition to eight 11-floor residential towers, two tower blocks comprising furnished apartments, a luxury hotel and a cargo village. The park will also host a building for Rnata Travels on a total land area of half a million square feet.
“Ras Al Khaimah is rapidly coming into its own as an investment destination with a mushrooming hospitality sector. With projects such as the Airport Towers, the emirate is undergoing rapidly accelerated development, and we hope to see it catch up and overtake other, more established, tourism destinations in the UAE,” said Saad Al Moosa. “Ta’sees is proud to be involved in the development of a project of such extensive scale and scope, and will be leveraging all its experience and resources to ensure an extremely successful enterprise.”
Eng. Mohammed Saleh said, “The Airport Towers project marks a significant milestone in Ras Al Khaimah’s development as a commercial hub. Al Aqariya Group is gearing up to fully support the real estate activity in Ras Al Khaimah, and is looking to implement a comprehensive campaign to highlight the Airport Towers project as a landmark development and viable high return investment.”
“Ras Al Khaimah is evolving as a destination of choice for projects worth billions of dirhams. We are working towards continuing this trend, ensuring that the emirate’s economic activities diversify across a range of key sectors. The RAKFTZ is an important partner in the emirate’s development, and is undertaking a series of initiatives to attract further capital flows to RAK’s economy,” said Oussama El Omari, RAKFTZ.
Eng. Hisham Abdul Ghani said, “A&A Investments is seeking to diversify its role in the region, and participation in high quality projects such as the Airport Towers will allow us to increase market presence and play a substantial role in supporting key infrastructural initiatives. The Airport Towers project has the hallmarks of a high return investment that will vitalize economic activity and drive revenue flows to the emirate.”
The Airport Towers project has been designed to offer premium mixed use hospitality, residential, corporate and retail space in the emirate of Ras Al Khaimah, underlying the emirate’s intent to emerge as a powerful player in the regional hospitality and tourism industry. Developed by Ta’sees in partnership with A&A Investment, the project will be promoted by Al Aqariya Group.
