Rakeen Development PJSC Information

RAKEEN DEVELOPMENT Rakeen – an Arabic word that means ‘central pillar’ or ‘trustworthy support’ – commenced operations on 19th April 2006, in a royal decree by His Highness Sheikh Saud Bin Saqr Al Qassimi, Crown Prince and Deputy Ruler of Ras Al Khaimah, as the land master-planner and developer to be responsible for RAK’s property development. Rakeen is owned by: - Reyada Investment Limited (46%), the private investment vehicle of His Highness Sheikh Saud Bin Saqr Al Qassimi, Ruler of the Emirate of RAK; - RAK Properties (26%), a publicly listed UAE real estate developer with support from RAK government; - RAK Airways (26%), UAE’s fourth largest airline privately owned by private UAE investors and RAK government; and - the Government of RAK (2%). Rakeen a significant number of ambitious developments underway for Ras Al Khaimah – from man-made islands to offshore financial districts and from spa resorts to new urban developments – to facilitate the emirate’s transition to an international commercial capital and cultural landmark. Rakeen has a diversified international development portfolio and has been investing robustly in emerging markets around the region. As a guiding principle, every project that we embark on is founded on the belief that we have an overriding responsibility to preserve the heritage and social values of the people as well as the beauty of our countryside, and the environment at large. Rakeen is committed to designing and building structures which are sympathetic to their surroundings and which preserve or add to the natural habitat wherever possible. Rakeen’s core values are Sustainability, Responsibility and Prosperity.