RAK Properties positive about real estate industry's upswing in the emirate, driven by balanced demand-supply ratio
- United Arab Emirates: Thursday, October 04 - 2012 at 15:13
- PRESS RELEASE
RAK Properties is upbeat on the real estate industry in Ras Al Khaimah. The emirate's property sector has registered significant growth defying the regional downturn according to Mohamed Sultan Al Qadi, MD & CEO of RAK Properties.
He urged real estate developers in the Gulf to remain conservative and flexible in their approach to growth and gear up for a new phase of development in which the supply should reflect the actual demand.
Al Qadi's call comes on the sidelines of Cityscape Global 2012, the Middle East's largest and most significant real estate event, taking place from October 2 to 4, 2012 at the Dubai International Convention and Exhibition Centre.
Al Qadi added that Ras Al Khaimah's efforts in upgrading its infrastructure as far as roads, electricity, water and communications are concerned have played a key role in boosting the real estate industry in the Emirate.
He added that the rapidly increasing investor confidence in the RAK real estate sector would continue to grow, since property developers have matured after learning hard lessons from the impact of regional downturn.
The Mina Al Arab project by RAK Properties is completed and the company has handed the sold villas and apartments. Al Qadi added that the occupancy level in Mina Al Arab has witnessed a remarkable increase during this year.
Mina Al Arab is a distinctive beachfront resort that features several islands on the coast of Ras Al Khaimah. With panoramic view of pristine beaches, Mina Al Arab provides world class living environment suitable for healthy lifestyle with jogging tracks, swimming pool, tennis courts, children's play area and ample open area to feel nature's freshness.
Moreover, RAK Properties delivered RAK Tower in Abu Dhabi and Julfar Towers, the residential and business towers in the Emirate of Ras Al Khaimah.
Julfar Towers is the tallest and most luxurious structure in Ras Al Khaimah offering top of the range facilities and amenities. Julfar Towers has been built over a three-storey podium that provides retail and food outlets with stunning water views.
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