Rakaa Properties discusses real estate matters in preparation for projects' launch

Projects developed by Rakaa, especially Falcon Crest and Dynasty Towers on Al Reem Islands in the emirate of Abu Dhabi, as well as the advanced technology employed by the company, has been widely admired.

The towers, with an investment value of Dhs1.5bn, are being built using smart building technology.

During the last two days, Rakaa has been exploring various investment opportunities in the region, attending meetings and conferences with numerous large real estate companies also participating in the exhibition, with the aim of fostering partnerships for future projects.

Touching on the atmosphere at Cityscape Dubai, Dr. Abdul Rahman Al Tasan, Rakaa Properties CEO, said:

"The activity we have seen during the last two days defines the appeal of the property market in the region, and is proof of the continuous rise and growth of the real estate market. In addition, the projects launched and deals signed prove the significance of the growth the market is currently experiencing, and should form the parameters that will stabilize the market, giving way to authentic real estate investors and resulting in 'speculators' being booted out of the property sector."

Al Tasan added that, while nobody can deny that the recent international financial crisis has struck fear into the hearts of some investors, who were seen to recollect their thoughts and redirect their investments and capital, they will soon find that the real estate sector in the region is the safest and best developed.

"As such, this crisis hasn't had any direct impact on the movement of real estate investments in the region," he said.

"On the contrary, it has strengthened investors' confidence in our real estate markets, and we expect a large amount of capital to be directed towards real estate developments."

Dynasty Tower is designed for residential purposes only, reaching a height of 29 floors and housing 136 units with 1 to 4 bedrooms each.

The 24-storey Falcon Crest Tower is also specified for residential purposes, with ground spaces allocated for retail.