Rakeen Development PJSC

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 RAKs 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%), UAEs 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 emirates transition to an...