New RAK developer to build twelve new projects:

The crown prince and deputy ruler of Dubai Shaikh Saud bin Saqr Al Qasimi launched Rakeen RAK’s newest property developer earlier this week. Rakeen is a private joint stock company having an asset worth of Dh4 billion and Dh400 million worth paid up capital. Rakeen would help manage and develop key projects throughout Ras Al Khaimah and overseas. In an interview Sheikh Saud contemplated the launch of Rakeen to be a wonderful chance to build a vibrant future for Dubai and RAK in particular. He also said that Rakeen would provide a new front to visitors and tourists in RAK providing an ideal environment for both investors and residents to enjoy business and life here.
Twelve mega projects would be developed by Rakeen involving mixed use property development in RAK as well as international markets. This would cover more that 200 million square feet with a net worth of Dh20 billion. The projects to be developed include RAK offshore, Al Marjan Islands, The Gateway, Banyan Tree resort, Al Hamra Amenity centre and Jabal Al Jais. The overseas projects of Rakeen include those in Italy, Iran, India, Azerbaijan, Georgia and Ukraine.