RAK Properties, a major real estate developer in Ras Al Khaimah, has announced its participation as a co-sponsor in Ras Al Khaimah Awafi Festival 2007, the annual desert expedition which takes place from the 11th of January until the 2nd of February 2007.
Mohamed Sultan Al Qadi, Managing Director of RAK Properties, said that cultural initiatives are essential and nurture every community, “The Ras Al Khaimah Emirate has witnessed a boost in the last few years, especially in the areas of investment and tourism. RAK Properties is keen to strengthen the emirate of Ras Al Khaimah, its economy as well as tourism by encouraging events of this nature” he concluded.
Running for the fourth year in a row, the festival program attracts thousands of visitors from all over UAE and GCC. The festival is a major attraction in the UAE events calendar, popular for hosting car races and sand dune climbing competitions. The festival also features football and volleyball tournament, music shows, chess tournament, horse and camel races, shooting championship, puppet shows, theatre events and a host of other sports and cultural events.
RAK Properties, a Public Joint Stock Company listed on the Abu Dhabi Securities Market, is a real estate development company that operates in a sector that is enjoying an economic boom. It was 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 43-storey twin office and residential project at a cost of AED500 million - in February 2006 followed by Mina Al Arab - spread over 30 million sq. feet at a cost of AED 10 Billion - in May 2006.
