Real Estate and Investment event makes an impact in Ras Al Khaimah

The three day event organized by Electro Med, a leading exhibition and events management company, proved to be an overwhelming success, as Ras Al Khaimah is now becoming the most cost-effective destination in the Gulf region, according to statistics.

This year's event which is in its 2nd edition was held at the Ras Al Khaimah Exhibition Center and brought together home buyers and real estate developers under one roof, providing the necessary platform to perform a proper due-diligence.

Most of the property developers, displayed giant models of its major projects on its stand, thus giving a clear picture to prospective home-buyers, before they make a life-saving worth of investment.

Exhibitors and visitors to the event also praised the quality and importance of the show.

The Guest of honour at the event, HH Shaikh Ahmad bin Saqer Al Qasimi, Chairman of Ras Al Khaimah Ports and Customs Department extended a warm welcome to all exhibitors and stakeholders at the opening day.

He noted that Ras Al Khaimah is fast emerging as one of the most vibrant real estate markets, not only in the UAE but in the entire region.

A key factor driving the Ras Al-Khaimah market is its lower property prices and great potential for strong capital gains and rental returns.

Industry majors such as official sponsors, RAK Properties, KHOIE and Saraya Islands were amongst the 25 participants at the showcase.

As an incentive, some of the real estate developers also introduced the numerous investment options during the exhibition. To further assist home buyers, pre-registration discounts were being offered on the spot by many of the participants.

For instance, developers were offering a scheme at the exhibition to book with 10% down payment and spreading out payments over the build period until possession of the property.

Hence, such purchase options provided a significant level of security and comfort to the prospective home buyer, interested in owning property in this tax-free region.

On the mortgage side, majority of the projects were backed by some percentage of bank financing offered by most of the leading banks in the region.

Kasb Property Group/Al Sadi Real Estate also showcased the magnificent Al Hilal Tower to seek out investors for Ajman's own growing real estate sector and to identify the latest trends in contemporary architecture.

Elsewhere, on the first day of the event, RAK Properties (PJSC), the most prominent property developer in Ras Al Khaimah announced during the event, the completion of all construction works of its Dhs500m Julfar Towers.

The twin tower project will comprise two 43 storey - the residential tower having 349 apartments and the office tower consisting 468 units built over a three-level podium.

Speaking to journalists at the close of the show yesterday, Electro Med's managing director, Waheed Khalid said, 'The show is an exclusive exhibition for real estate and investment companies to meet with home buyers, potential investors, agents and partners, focusing on all aspects of the property development industry'.

He noted that this year's event has simply grown from strength to strength, not only in terms of size, but also in terms of quality and exhibitors.

'RAK Reis provides the sales platform for exhibitors to showcase their portfolio to corporate and individual investors and thus realize the immense industry potential of Ras Al Khaimah,' said Khalid.

We decided to bring the event closer to the people in this emirate, knowing that Ras Al Khaimah has already attracted global and local investment within a short time, disclosed Khalid.

Official sponsors were KHOIE, RAK Properties, Saraya Islands and BAZ; while co-sponsors were Pacific, PMDC, Select Property and Hilton Ras Al Khaimah.

The event was also supported by Al Aqaria News, Property World as Media Sponsors; while Reidin.com and Eye of Dubai as Online Information Partners.