Oct. 12 (Bloomberg) -- RAK Properties PJSC, the developer that built Ras Al Khaimah’s first man-made islands, is halting parts of a 12 billion-dirham ($3.3 billion) project until market conditions improve, the chief executive officer said.
Parts of Mina Al Arab, a beach resort in the northern part of the United Arab Emirates, that haven’t been sold will be halted, Mohammed Sultan Al Qathi said in an interview last week. The developments on hold include a marina, a shopping center and seven hotels, Al Qathi said.
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