Ras Al Khaimah, UAE, 25 April 2013: COSTA Coffee, one of the world’s largest coffeehouse chains, has launched an outlet in Julfar Towers of RAK Properties, the biggest property developer in Ras Al Khaimah listed on the Abu Dhabi Securities Market.
Costa Coffee joins other leading retail brands including ‘Choithram’ and ‘Fitness First’ which has set up shops in RAK Properties’ projects in the emirate.
Commenting on the strategy of selecting retail brands for their projects, Mohamed Sultan Al Qadi, Managing Director and CEO of RAK Properties said: “We are guided by a clear vision while selecting retailers, for both the business and community users. We partner with retailers whose brands are in sync with the spending power and lifestyle of our residents, tenants and visitors.”
“We found COSTA the ideal coffee chain for Julfar Towers. We have selected a location that would be convenient to both business and community users. We will continue to provide residents and visitors of RAK Properties the best retail options available around,” added Al Qadi. This is the third ‘COSTA’ shop in Ras Al Khaimah and the first in a RAK Properties’ projects. The location in Julfar Towers offers a picturesque sea view.
RAK Properties has added a new revenue stream by developing retail complexes in its projects like Julfar Towers, RAK Tower on Reem Island in Abu Dhabi and the Mina Al Arab project.
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.
COSTA is considered one of the leading coffee shop chains in the world and a preferred option in the GCC. The company has expanded widely in the Arab countries and has strong presence in the UK, and other countries in Europe and North America.
RAK Properties, a Public Joint Stock Company listed on the Abu Dhabi Securities Market, is a real estate development company established to implement the emirate’s plans to promote real estate, tourism and leisure facilities in RAK and invest in interesting projects. It is intended that its activities will encourage economic growth in the UAE in general and Ras Al Khaimah in particular. The company launched its first project, Julfar Towers – a 45-storied twin office and residential project at a cost of AED 500 million – in February 2006 followed by Mina Al Arab – spread over 43 million sq. feet at a cost of AED 10 Billion – in May 2006. It also launched RAK Tower in Abu Dhabi at Cityscape Dubai.