RAK Properties projects
RAK Properties, is a Public Joint Stock Company that came into formation recently with the support of RAK government to oversee the promising vision of RAK government towards the development of real estate, tourism and leisure facilities in Ras Al Khaimah.
It aims at supporting and promoting economic growth and assist the emirate's development plans and maximise shareholder value by their substantial projects around the costal and inland areas of Ras Al Khaimah.
RAK Properties has a sound capital of AED 2 billion. The company's founders hold 45 per cent of the company's share capital, who include the Government of Ras Al Khaimah, while the remaining 55 per cent were offered in a public offering that was significantly over-subscribed by 57 times.
RAK Properties, in its mission to be the rising icon of Ras Al Khaimah, will be instrumental in attracting experienced foreign investors to initiate state of the art projects which include building and developing luxurious Hotels, Resorts, malls, compounds and industrial areas.
RAK Properties will act instrumental in the overall city development plan. Their projects will help provide the support structure for the community development in the emirate. They will be undertaking projects that will make provisions for retail stores, schools, health spa's, and leisure centres.
RAK Properties is expected to become a magnet for drawing in foreign investment to the emirate and the UAE, which will act as a catalyst for the development of a thriving property sector. This will offer the full range of real estate, from state-of-art hotels and resorts to residential compounds. Retail outlets, schools, health and leisure facilities have been incorporated into the planning to ensure that thriving, fully resourced communities are created.
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.