RAK properties co-sponsors 'Awafi Festival'

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The annual desert expedition, which attracts thousands of visitors to Ras Al Khaimah from all over UAE and the GCC, started on the 14th of December and will continue till the 6th of January 2008. RAK Properties is co-sponsoring the event for the second consecutive year.

Commenting on his company's support for the event, Mohamed Sultan Al Qadi, Managing Director of RAK Properties, said that cultural initiatives are integral to nurturing every community. 'Ras Al Khaimah has witnessed remarkable growth over the last few years, especially in the areas of investment and tourism. RAK Properties is keen to further promote Ras Al Khaimah, its economy as well as tourism and culture by encouraging events like the Awafi Festival,' he added.

Running for the fifth year in a row, the festival has now become a major attraction in the UAE's calendar of events. In addition to its hugely popular car races and sand dune climbing competitions, the festival features a football as well as volleyball tournament, music shows, horse races, camel races, puppet shows, theatre and cultural events.

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 emirates 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 Dhs500m in February 2006 followed by Mina Al Arab - spread over 30 million sq. feet at a cost of Dhs10bn - in May 2006.