RAK Real Estate Ltd. - Interim Results & Management Statement

STATEMENT BY THE BOARD

FOR THE PERIOD ENDED 30 JUNE 2009

On 25 February 2009, the Company agreed to acquire ("the Acquisition") the beneficial interest in and the economic benefit of the currently the Salmiyah Commercial Complex and the Khorafi Commercial Complex building projects ("Projects") from Rafco International Real Estate Company K.S.C.C. ("Rafco") business. Further details of the acquisition are detailed in the Company's announcement dated 20 March 2009.

An update on each project is provided by the Board of Directors in the Management Statement and Interim Results are available in the full news release from the Company.

For the complete news release, please visit this page.