2013-11-16

Ras Al Khaimah, UAE,16 November 2013: Sheikh Mohamed bin Kayed Al Qasimi, Chairman of the Department of Economic Development in Ras Al Khaimah, inaugurated on Thursday 14th November 2013 a flagship outlet for Choithrams in Mina Al Arab, in the presence of officials and representatives from Ras Al Khaimah economic department, RAK Properties and Choithrams.

RAK Properties, Ras Al Khaimah’s biggest property developer listed on Abu Dhabi Stock Exchange and Choithrams, a leading retail company said they were pleased to launch this new retail outlet, which will be followed by another one in Julphar Towers later.

Located in the Lagoon distract in Mina Al Arab which could be accessed from both main entrance, the new outlet covers an area of 7064 meter square.

Al Qadi said at the inauguration: “We have successfully adopted a smart strategy that balances between supply and demand and dedicates resources diligently and according to long term planning. This has made our projects appealing to major global retail companies present in the Middle East. The interest of leading global brands to be present in Ras Al Khaimah reflects the far-sighted vision of His Highness Sheikh Saud Bin Saqr Al Qasimi, Ruler of Ras Al Khaimah and member of the Supreme Council, in putting the Emirate on the global map as one of the region’s prominent economic and commercial hubs.”

He added: “RAK Properties was successful in creating strong sub-brands to go under its corporate umbrella, including Mina Al Arab that is regarded a great success story in the real estate development sector not only in the UAE but also in the region for its exceptional offerings.”

He added: “We are pleased to open this flagship outlet of Choithrams, a highly reputed and successful global company, as part of our commitment to provide world class services to our customers.  Choithrams was the ideal choice as its services complement the qualitative experience we offer to the tenants of Mina Al Arab project.”

Mr. V.L. Pamnani, Partner, Choithrams, added: “We give top priority to catering to our customers’ needs as well as offering world class services whenever we launch a new outlet. We thank RAK Properties for granting us the opportunity to be present in Mina Al Arab. We are confident this new flagship outlet will attract customers not only from Ras Al Khaimah but also from other Northern Emirates.”

RAK Properties is behind some elite real estate projects in Ras Al Khaimah and offers its customers world-class services driven by quality. 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.

This new Choithrams outlet in Mina Al Arab will offer a wide range of products and fresh food as well as other retail services to the residential communities in Ras Al Khaimah and other Northern Emirates.

Choithrams opened its first supermarket in the UAE in 1974 and since then has extended its operations to Bahrain, Qatar and Oman with its vision of being a leading fresh retailer in the GCC. Today, the company operates more than 48 retail units across the GCC having 27 stores in the UAE while it plans to open 32 stores in the next 2 years.

Editors Note:

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.