Reduced fees at RAK Properties

Reduced fees at RAK Properties

By Staff Report

Published: Wed 8 May 2019, 7:17 PM

Last updated: Wed 8 May 2019, 9:21 PM

RAK Properties announced the reduction of service charges on villas for the foreseeable future, as part of its move to create a more sustainable business model.
The move benefits both the environment and the pocket books of villa residents in Mina Al Arab. The restructure comes as part of a universal move the UAE has put in to action to effectively utilise renewable energy sources, with increased focus on recycling and sustainability.
By increasing usage of renewable energy and finding ways to reduce water wastage, the company has reduced service charges from Dh8 per sqft to Dh6 on its villa projects.
"RAK Properties have gone to great lengths to use water more carefully and to implement renewable solar energy on the parking shades of Lagoon Walk. This is good for the environment and it creates savings for our villa owners," said Samuel Dean Sidiqi, chief executive officer of RAK Properties.
Some of the sustainability initiatives include the installation of the very first solar power plant at the Mina Al Arab Lagoon Walk with a capacity of 1MW expected to cover an area of 7,000sqm. Besides this, the construction of a recreational park expected to provide power via a photovoltaic solar panel with a registered capacity of 375KW is also in the pipeline. In addition, all future public street lighting is planned as off-grid integrated solar street lights to reduce requirement for power as much as possible.
RAK Properties newest projects - Bay Residences and Marbella - will benefit from enhanced design, material and architecture. They will continue to feature carefully considered, robust and aesthetic builds; all whilst highlighting elements of efficiency and sustainability.

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