2014-03-13

Continued confidence in RAK growth and overwhelming response for project drives up demand for more villa units

Sales of new units to commence on Saturday, March 15, 2014, at RAK Properties Sales Office at Mina Al Arab Lagoon

March 13, 2014

RAK Properties PJSC, Ras Al Khaimah’s (RAK) biggest property developer listed on the Abu Dhabi Stock Exchange, has announced the addition of new villas for its flagship development project, Flamingo Villas. According to the company’s senior executives, the continued confidence in RAK’s further growth and development as a premier investment and tourist haven combined with the overwhelming response generated by the announcement of the Flamingo Villas project at last year’s Cityscape Global 2013 has prompted the company to expand the number of its villas. Sales of the new villas will start this weekend (March 15, 2014) at the RAK Properties Sales Office in Mina Al Arab Lagoon, RAK.

The Flamingo Villas project is a series of villas overlooking the Arabian Gulf. Each unit will present owners with a spectacular sea view of the RAK coastline along with a wide range of amenities like separate swimming pools for adults and children, play area with different play equipment, a multipurpose court and landscaped areas. The project falls in line with the high standard of living in Mina Al Arab and clearly reflects the RAK Properties motto of ‘Living closer to nature.’

Rashed Al Khatri, Director Of Marketing & Sales, RAK Properties, said, “Investor confidence continues to ride high for Ras Al Khaimah, with many businesses and investment opportunities coming to set up shop here. This upbeat atmosphere has helped generate strong response for our Flamingo Villas project, prompting us to add more villas to address the demand of those wanting to buy into the development. The demand for more units can be attributed to the project’s value additions and the presence of wider areas and majestic views of the seafront. The sales of these new villas will start this Saturday. We are confident that this move will further consolidate RAK Properties’ leading position in the country’s real estate development segment.”

RAK Properties is one of the largest real-estate developers in the GCC and is currently engaged in a massive expansion phase. The company has developed a large and strong clientele, and enhancing its standing by bringing in top international brands to its projects.

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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.