RAK Properties displays landmark projects at the International Property Show

Billed as the biggest transactional property exhibition in the region, the International Property Show will be held at the Dubai International Exhibition Centre (DIEC) from February 17 to 19.

Commenting on the company's participation, Mohammed Sultan Al Qadi, Managing Director of RAK Properties said that the property show would also be an opportunity for visitors to see the progress of its pioneering projects.

"We are delighted to be at the International Property Show as it is an important market place for the region's developers and serious buyers. RAK Properties pursues a careful and studied approach in positioning our projects and hence our developments are unique and appealing to a broad category of buyers,"

said Al Qadi.

RAK Properties will showcase its Julfar Towers, Mina Al Arab and RAK Tower at the property fair. Julfar Towers, launched in February 2006 is an office-cum-residential project of Dhs500m, with two towers rising up to 43 floors.

Mina Al Arab is a mixed use, waterfront resort community that will epitomise the 'Living Closer to Nature' motto of RAK Properties. Spread over 30 million sq. feet and estimated to cost Dhs10bn, the project was announced in May 2006.

The Dhs300m RAK Tower in Abu Dhabi is the company's first project outside Ras Al Khaimah. It was launched during Cityscape Dubai 2007.

RAK Properties recently reported a net profit of Dhs496m ($135m) for its second financial year ended 31st December 2007. The company also achieved sales worth Dhs1,083m, which represents an increase of 288% over the 2006 figure (Although the company recorded substantial sab during the year, revenue recognition has been postponed until property handover).