Thursday August 6, 2009

Dubai: Rakeen, a property developer and master planner, has announced that it has partnered with Ras Al Khaimah Investment Authority (RAKIA) to establish RAK Business Invest, an initiative that offers foreigners as well as UAE residents an unprecedented opportunity to invest in the UAE and own a luxurious residential unit through a single transaction.

RAK Business Invest is an all-in-one investment package inclusive of an office space, a residential unit, simplified visa processing procedures and a wide range of value-added business and lifestyle benefits.

Overseas investors who select the package may choose from a selection of commercial amenities, including furnished office space, commercial space, retail space, land, warehouse, cold storage or serviced apartments.

They are also entitled to acquire well-appointed studio, one-bedroom, two-bedroom or three-bedroom beachfront residential units at Bab Al Bahr, the centrepiece development of Al Marjan Island, the first man-made island in Ras Al Khaimah.

Wahid Attalla, executive director of Rakeen, said, "We are creating a new and more attractive gateway for foreigners to expedite and gain greater value for their investment initiatives in the UAE.

"RAK Business Invest enables investors to enjoy a wide range of economic benefits as well as value-added incentives such as an integrated point of contact to facilitate both their commercial and residential requirements.

"This is truly a breakthrough joint initiative by Rakeen and RAKIA, as we are fully committed to continuing to look for innovative solutions to promote and protect the interest of foreign investors in the emirate."

Jeremy Savory, commercial director of Rakeen, said, "Ras Al Khaimah has been gaining solid ground as a favourite destination of leading investor groups globally, and the RAK Business Invest initiative is another important step that will help further cultivate strong bilateral relations with these countries.

RAK Business Invest targets all nationalities and business sectors, as the more diversity the better."

Source: Gulf News