Tuesday, June 12, 2007

Rakeen Properties

RAK project will offer services in free zone environmentRakeen, the leading developer in Ras Al Khaimah, has announced it is to develop an iconic financial city in the emirate. The development, dubbed Ras Al Khaimah Financial City (RKFC), is the hub of the RAK offshore project currently under development by the the emirate’s investment authority, Rakia.The city will consist of 12 cutting-edge-designed towers and is set to facilitate the emirate’s growth by acting as a regional financial centre. The RAK offshore project is the new centre for financial operations of the regional business community that will offer financial, legal, logistic and insurance services in a free-zone environment.RAK offshore will be owned by Ras Al Khaimah Investment Authority, facilitating the operational and legislative requirements of the burgeoning emirate. Meanwhile, the development will be an example of best-practice and cutting-edge architecture in the United Arab Emirates, with the appointment of Hey Detina, the renowned, forward-thinking New York architect.The pioneering design of RKFC will lead to the establishment of an icon for the emirate and a modern, functional complex for business and legislation. “The development will be a landmark on the coastline of the Arabian Gulf, and its design is something Rakeen is very proud of. “However, it is also crucial that RAK has a centre of financial strength that will further instigate the growth of the emirate, and we are adamant that is what RKFC will do,” said Dr. Khater Massaad, Rakeen executive chairman. The financial city has been designed to provide a masterpiece with genuine modern-day offerings ensuring leading and efficient business activities.In tandem with state-of-the-art facilities and latest amenities, RKFC will be a vibrant and dynamic urban space complemented by nature, allowing the centre to also act as a major tourist attraction. “The architectural expression is a sensitive portrayal of an organic curvilinear form.“The structures will be in harmony with the natural elements blending the natural surrounding elements with technical advancement. The towers will represent a gateway to the future of an iconic financial destination,” added Dr. Massaad.

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