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Rakeen Development for RAK
- United Arab Emirates: Sunday, August 13 - 2006 at 08:03
A new private stock company has been set up in Ras Al Khaimah with the aim of focusing on the real estate sector. Rakeen Development will have an authorised capital of $817m and will be based at Al Jazeera Al Hamra. The company will target property development in the tourism, residential, commercial and industrial sectors and plans to develop an exhibition and convention centre, with up to 4,000 hotel rooms.
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Jonathan Sheikh-Miller, Deputy EditorSunday, August 13 - 2006 at 08:03 UAE local time (GMT+4)
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