Dubai-based Stallion Properties  has launched the Dh1.2 billion ($326 million) Greek-style development on Marjan island in Ras Al Khaimah.

The company plans to raise its total portfolio in the UAE to around Dh4.5 billion ($1.22 billion), a report in Gulf News said.

The new development will comprise 560 units covering an area of just over 463,000 sq ft. The units will consist of Aphrodite townhouses, Zeus villas, Apollo condos and Artemis luxury condos.

Construction will begin in October this year and is expected to be completed in 2011.

Stallion Properties has tied up with Aspire Real Estate to assist with sales and marketing of the Santorini project.

Marjan Island is a Dh6.6 billion ($1.8 billion) project and one of the major developments underway in Ras Al Khaimah.