Page 87 - SOBHA REALTY PR REPORT - JUNE 2024

6/11/24, 10:31 AM Ras Al Khaimah Ruler inaugurates Sobha Modular Industries’ new manufacturing facility in the Emirate - Eye of Riyadh
extend our heartfelt gratitude to His Highness Sheikh Saud bin Saqr Al Qasimi, the Ruler of Ras Al Khaimah, for sharing his
noble vision for the future and being a part of the inaugural ceremony. The innovative venture aims to facilitate ubiquitous
development of local industries while augmenting the manufacturing landscape.”

RAKEZ Group CEO Ramy Jallad said, “We are thrilled to welcome Sobha Modular Industries to Ras Al Khaimah. This new
facility is not just an expansion of our industrial capacity; it embodies our strategic vision to attract and nurture top-tier global
enterprises within our emirate, where manufacturing makes up one-third of the overall GDP. The company’s state-of-the-art

manufacturing capabilities and commitment to sustainability exemplify the innovation we aim to foster. Furthermore, it
underscores Ras Al Khaimah’s role as a prime destination for innovative and sustainable industrial development. We are
committed to supporting their growth and are confident that their success will inspire further industrial innovation in the
region.”

With Ras Al Khaimah’s favorable manufacturing ecosystem, characterised by its strategic proximity to essential raw materials
and an attractive cost-value investment ratio, Sobha Group is well-positioned to operate its new business with efficiency and

success.

Sobha Realty Managing Director Francis Alfred said, “With heartfelt gratitude to His Highness Sheikh Saud bin Saqr Al Qasimi,
Ruler of Ras Al Khaimah, for his support, we proudly inaugurate Sobha Modular Industries, a significant step towards

innovation and excellence in construction. With state-of-the-art facilities and a commitment to sustainability, Sobha Modular
aims to revolutionise the construction sector. Our partnership with RAKEZ has been vital, and we appreciate their unwavering
support. This step further reinforces our market presence and reaffirms our commitment to the highest quality and customer
satisfaction. We aim to set new benchmarks for excellence in the manufacturing industry. ”

Sobha Modular Industries has exciting expansion plans in Ras Al Khaimah not just to boost production capacities, but also
support Sobha Group’s strategy for backward integration.

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