RAK Properties achieves key milestones on Mina Al Arab projects
RAS AL KHAIMAH, July 23, 2024
RAK Properties, the largest publicly listed property developer in Ras Al Khaimah, is marking significant milestones in its ongoing real estate development projects - Bay Residences; Bay Views; Cape Hayat and Marbella Villas - within the mega Mina Al Arab development.
Giving a project update, RAK Properties said nearly 75% of the work had been completed on its premium 661-unit Bay Residences, and the project was on track for timely handover.
All the units within the key development, spread across four buildings in Bay Residences Phase 1 and Bay Residences Phase 2, are sold out, it stated.
On Bay Views, the Emirati developer said work was well underway on the 344-unit urban island residential complex on Mina Al Arab’s Hayat Island, an established waterfront community in Ras Al Khaimah, with lush landscaping, protected coastal wetlands and pristine beaches.
The enabling work has been done and the sub-structure now stands at nearly 70% completion.
On Cape Hayat, RAK Properties said work is moving at a steady pace on the luxury collection of residential apartments located on Hayat Island in Mina Al Arab.
Spanning 22,854 sqm area, Cape Hayat is a blend of elegance, innovation, and sustainability, with direct beach access for its residents. The enabling is fully done and the sub-structure is 65% complete.
On Marbella Villas, the developer said it is on track for early handover.
Marbella Villas comprises two- and three-bedroom townhouses and four-bedroom villas on Mina Al Arab’s, Hayat Island. The enabling, sub-structure and super-structure work is already over, while the finishes, MEP and external works are at 90% completion.
Situated within Mina Al Arab, Ras Al Khaimah’s premier master-planned development, al these projects offer its residents a bustling island community with club house, community park, waterfront promenade, seafront dining and retail, as well as scenic cycle and pedestrian paths and access to five-star resorts and spas.
"We are dedicated to delivering our projects with unprecedented speed and efficiency. Our commitment to innovation and sustainability allows us to meet our timelines while ensuring the highest standards of quality," said its CEO Sameh Muhtadi.
"By accelerating our delivery schedules, we enhance the value for our residents and investors, creating vibrant communities within Ras Al Khaimah," he added.-TradeArabia News Service
