RAK Properties positive of real estate upswing
Ras Al Khaimah, October 7, 2012
Ras Al Khaimah’s property sector has registered significant growth defying the regional downturn, and RAK Properties is upbeat on the real estate industry, according to Mohamed Sultan Al Qadi, RAK’s managing director & CEO.
Al Qadi said that the emirate’s real estate development plan is currently based on a well studied and conservative supply strategy. He urged real estate developers in the Gulf to remain conservative and flexible in their approach to growth and gear up for a new phase of development in which the supply should reflect the actual demand.
“Ras Al Khaimah’s efforts in upgrading its infrastructure as far as roads, electricity, water and communications are concerned have played a key role in boosting the real estate industry in the Emirate,” Al Qadi said.
He said that the rapidly increasing investor confidence in the RAK real estate sector would continue to grow, since property developers have matured after learning hard lessons from the impact of regional downturn.
The Mina Al Arab project by RAK Properties has been completed and the company has handed the sold villas and apartments. “The occupancy level in Mina Al Arab has witnessed a remarkable increase during this year.”
Mina Al Arab is a distinctive beachfront resort that features several islands on the coast of Ras Al Khaimah. With panoramic view of pristine beaches, Mina Al Arab provides world-class living environment suitable for healthy lifestyle with jogging tracks, swimming pool, tennis courts, children's play area and ample open area to feel nature's freshness.
RAK Properties delivered RAK Tower in Abu Dhabi and Julfar Towers, the residential and business towers in the emirate.
Julfar Towers is the tallest and most luxurious structure in the emirate offering top of the range facilities and amenities. It has been built over a three-storey podium that provides retail and food outlets with stunning water views. – TradeArabia News Service