Business | Property
RAK real estate exhibition to showcase Dh35b projects
The second Ras Al Khaimah Real Estate and Investment Show (RAK REIS) will showcase Dh35 billion worth of real estate projects, according to Electro Med, the event organiser.
- Staff Report
- Published: 00:21 May 20, 2008
Ras Al Khaimah: The second Ras Al Khaimah Real Estate and Investment Show (RAK REIS) will showcase Dh35 billion worth of real estate projects, according to Electro Med, the event organiser.
With a powerful line-up of exhibitors, RAK REIS, scheduled to be held from May 22-24 at the Ras Al Khaimah Exhibition Centre, aims to help investors tap into the thriving realty sector in the northern emirates.
Targeted at the final consumer rather than at trade visitors, RAK REIS is a complementary initiative to the RAK Government's economic development program to attract more investors and tourists to the emirate. RAK REIS is being held under the patronage of Shaikh Ahmad Bin Saqr Al Qasimi, Chairman of RAK Customs and Ports Department.
Lucrative market
"Ras Al Khaimah has emerged as one of the most lucrative real estate markets in the Middle East," said Abdul Al Rahman Al Shayeb Al Naqbi, General Manager, RAK Chamber of Commerce and Industry. "Investors from around the world are beginning to take notice of this emirate, especially since the regulations on land and property ownership have been eased, coupled with the recent launch of mega-tourism residential, commercial and infrastructure projects," he added.
Many ongoing RAK tourism projects will be showcased at the exhibition, including resorts, theme parks, and five and seven-star hotels; all of which represent nearly Dh80 billion in investments within the next five years.
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