RAKIA


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AcronymDefinition
RAKIARas Al Khaimah Investment Authority (India)
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Caption: The CPR cocktail, with chamomile-infused rakia, lemon juice, pear puree, ginger syrup and the house bitters.
It is our firm belief that after nearly two decades of operating independently, the time is right to leverage the combined resources of RAK FTZ and Rakia under one strong, unified brand.
Sheikh Ahmed bin Saqr Al Qasimi, Chairman of RAKEZ, RAK FTZ and Rakia, said the formation of RAKEZ marks an important milestone for the free zone landscape in Ras Al Khaimah.
He said: "I am honoured to take the leadership of RAKIA and, will continue to pursue its growth and development.
RAKIA also offers flexible payment terms on the lease to SMEs, which can be paid incrementally if a company is leasing offices or land to build its own facilities.
Vice President ICCI expressed hope that RAKIA would help set off a new growth trend in the region, marking the beginning of a revival of the real estate sector.
The ever-growing investor confidence in Ras Al Khaimah is reflected in the impressive year-on-year performance of RAKIA.
5 billion in investment, no one can say that the Rakia chief hasn't achieved his aim.
Through RAKIA's efforts, the emirate of Ras Al Khaimah has attracted more than 6,500 investors from Europe, India, USA, Russia, CIS, Asia and the Middle East, with the RAKIA Industrial Parks serving as the top attractions among investors.
However, in February this year developer Rakeen, which is owned by RAKIA, said it had been prevented taking over the project by Khoie Properties.
But current plans for financing the first part of the project the $1bn railway and port show that RAKIA and Trimex will most probably not have to cover any of the upfront costs, said Madhu Koneru, the executive vice chairman of MEC Holdings, a Trimex subsidiary and RAKIA s partner.
RAKIA bought the Black Sea port of Poti and 300 hectacres of land in 2008 to develop a free industrial zone there to generate income for the fourth-largest member of the United Arab Emirates, Massaad said.