New Promising Businesses in RAK

Dynamic Local Enterprises Demonstrate Ras Al Khaimah’s Growth Potential

Mabani Steel

“Setting up in Ras Al Khaimah is more cost-competitive.”

Mabani Steel, a specialist in pre-engineered steel buildings (PEB), is serving Ras Al Khaimah’s fast-growing industrial sector. As President Muayyad Khudairi explains, Ras Al Khaimah’s industrial zones are attracting more and more industrial companies that need pre-engineered steel buildings for warehouses and factories. Mabani Steel has already accomplished a “first” for the PEB industry by publishing a technical manual on PEB panels and panel accessories.

The new company, which began operations in February 2007, is a member of the Al-Rajhi Investment Group, one of Saudi Arabia’s five top business groups and the biggest Saudi investor in the United Arab Emirates. Having worked in the regional PEB industry for the past three decades, including participating in the start-up of the region’s first PEB manufacturer in 1975, Khudairi and Vice President Ken Krieger have developed the necessary expertise to provide customers with cutting-edge products and services. Khudairi anticipates strong growth for the new company, particularly as Ras Al Khaimah’s government and RAKIA continue to draw investors to Al Ghayl Industrial Park and other business-friendly development zones.

Khudairi and his management team chose to launch the company in Ras Al Khaimah rather than elsewhere in the UAE because of the lower costs of doing business, exceptional growth potential and efficient infrastructure, including Emirates Road, which has been extended to reach Ras Al Khaimah. “I had heard of Ras Al Khaimah, but would not have come here without Emirates Road. Now, this economy will grow like a new Dubai,” he says, adding, “With the cost of living here still low and the great potential of companies coming to Ras Al Khaimah, we decided that to set up the company here would be more efficient concerning location and more cost-competitive.”

Rakeen

“There is a pot of gold at the end of the rainbow”

Rakeen, Ras Al Khaimah’s biggest property developer, is helping to turn Ras Al Khaimah into one of the region’s top choices as a residential base and tourism destination. The company is launching projects at home and abroad, in markets as diverse as China, India and Europe. Rakeen’s world-class developments incorporate sustainable, responsible, eco-friendly planning and design, and are attracting growing numbers of international investors and partners.

Rakeen is making the most of Ras Al Khaimah’s unique natural attractions to create several outstanding developments throughout the emirate. As COO Dr. Imad Haffar points out, “We have many projects in the works here and all are just beautiful!” Rakeen is partnering with international luxury resort brand Banyan Tree, for example, to create a “desert paradise” resort in Ras Al Khaimah, and in April this year, Rakeen launched the Bab Al Bahr development, the first phase of a planned luxury project on Marjan Island. Bab Al Bahr includes a four-star hotel, 120 time-share apartments, freehold residential apartments, a shopping center and a 25-floor office tower. Residents and visitors can enjoy 360-degree sea views and private beachfronts.

Dr. Haffar is certain that Ras Al Khaimah can look forward to a very bright future for its tourism sector and hospitality industry thanks to investments being made by Rakeen and other key investors in these sectors, including Orascom, Saraya, RAK Properties and more. “These projects will have a huge influence on the growth of Ras Al Khaimah, and when we look ahead we can see that there is definitely a pot of gold at the end of the rainbow,” he concludes.

RAK Airways

“RAK Airways will generate great growth for Ras Al Khaimah.”

The RAK Airways, Ras Al Khaimah’s new national carrier, aims to stimulate the growth of the emirate’s economy through bringing added value to the local business sector and providing high-quality service for residents and visitors. CEO Kishu Teckchandani, who assumed his post in March this year, has had 32 years of experience in the aviation industry, including serving as a board member for the International Airways Authority of India as well as several years as Chairman and Managing Director of the Cement Corporation of India.

Well known as a manager who can achieve growth and profitability for the business operations he manages, Teckchandani has ambitious goals for RAK Airways. He says, “RAK Airways will generate great growth for Ras Al Khaimah and provide more opportunities to attract new businesses, serve the growing tourism industry and bring in workers from India, Pakistan and other countries. RAK Airways reflects what Sheikh Saud wants to achieve here in Ras Al Khaimah, which is to offer a full package to anyone trying to operate a business here.”

Currently, RAK Airways is negotiating air-traffic rights with India and Iran, two countries that will be key destinations in its planned route network. When it begins service, the airline will be the fourth national carrier operating in the UAE, joining Emirates Air, Etihad Airways and Air Arabia. Explaining his approach to pricing and service, Teckchandani says that he has determined to focus on quality. “RAK Airways has opted for a full-service carrier approach, with business and economy classes, instead of the low-cost carrier model which is growing in popularity in the region,” he explains.

Construction Technology Contracting

“We aim to be the largest contractor in the United Arab Emirates.”

Construction Technology Contracting (CTC) is a general contracting company that specializes in design and construction employing the latest techniques and technologies. The company’s portfolio of projects includes high-rise towers, hotels, commercial and residential complexes, hospitals, factories, pre-engineered steel industrial buildings (CTC is a certified Zamil Steel builder) and much more.

Customer service is a guiding principle for CTC. According to Waddah Bassmaji, CEO, “We at CTC pride ourselves on our high-quality workmanship and our commitment to making sure our clients achieve the best value for their investment by providing them with affordable, environmentally friendly and cost-effective projects completed in a timely manner.”

CTC achieved turnover of AED 175 million in 2006 and aims to increase that total significantly to reach AED 500 million in turnover this year. A true full-service company, CTC provides financing as well as its contracting services from design to completion. Having established a strong track record, CTC has many repeat customers.

Bassmaji explains that CTC welcomes contacts from American companies and investors, both companies wishing to set up operations in Ras Al Khaimah or elsewhere in the United Arab Emirates, and companies looking to establish a presence in the fast-growing local construction sector by teaming up with an experienced local partner.

CTC anticipates continued growth and expansion. Bassmaji concludes, “Our goal is to become the largest contractor in the United Arab Emirates. We establish a close and productive relationship with every client and partner. We involve YOU in the process.”