A new private joint stock company has been founded in Ras Al Khaimah (RAK) to take advantage of its fast growing real estate and property development sectors. According to Gulf News, headquartered at Al Jazeera Al Hamra, Rakeen Development will have an authorised capital of Dh3 billion.
RAK's property sector has seen significant growth in the last two years with the launch of mega projects such Al Hamra Village and Mina Al Arab.
