RAK Properties unveils its plans to expand into Morocco, Egypt, and Sudan

The expansion of the company is supported by the strong and continuing interest of investors in the company from the projects of local and regional markets. RAK Properties presents its landmark Julfar Towers, Mina Al Arab and RAK Tower projects on the International Property Show, the largest transactional property exhibition in the region, held at the Dubai International Exhibition Centre (DIEC) from 17 to 19 February. Mohammed Sultan Al-Qadi, Managing Director & CEO of RAK Properties, said: "The overwhelming response of our projects are on the rise overseas and regional investors is a testament to the confidence we have from our investors, and reaffirms our commitment to increase the value for our stakeholders through high quality projects." "Based on the success of the projects that we have so far, we are building our business in other countries as Morocco, Egypt and the Sudan, where we focus on the development of residential, commercial and hospitality. We are also working with our partners to identify , the growth prospects minimal risk, "he added. "With a strong expansion in the plan, RAK Properties are also establishing a presence in other markets and increase its portfolio investments in the next ten years Dhs50bn '. Julfar Towers, launched in February 2006, is an office-cum-residential project of Dhs500m, with two 43 - storey towers. Mina Al Arab is a mixed-use, town Waterfront Resort shape, that the "Living Closer to Nature 'motto RAK Properties. Spread over 30 million square meters feet and estimated costs Dhs10bn, was the project in May 2006. The Dhs300m RAK Tower in Abu Dhabi is the first project outside Ras Al Khaimah. RAK Properties recently reported a net profit of Dhs496m ($ 135) for the second fiscal 31 December 2007. The company achieved a turnover worth Dhs1 also, 083m, which represents an increase of 288% compared to the value 2006 (Although the company considerable SAB during the year, revenue recognition was postponed until property Handover). For more information, please visit the RAK Properties at the International Property Show, held at the Dubai International Exhibition Centre (DIEC), Hall 3, Booth B11.
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