RAK Properties in deal to set up 233-key coliving development
RAS AL KHAIMAH, 2 hours, 54 minutes ago
RAK Properties, a leading property developer in UAE, has partnered with ARM Holding and HIVE, the pioneering coliving developer and operator, to launch a coliving and coworking development in the heart of Mina Al Arab, its flagship development in Ras Al Khaimah.
The 233-key development, which includes a 117-unit HIVE building and a 116-unit residential building available for purchase, is designed to provide an all-encompassing living and working experience.
The development will feature 300 sqm of retail space and 2,000 sqm of state-of-the-art coworking space, making it the first public workspace from HIVE, inspired by the success of their flagship development in JVC, Dubai.
This innovative project is set to redefine the lifestyle offering in the emirate, catering to the evolving needs of young modern professionals and entrepreneurs, said a statement from RAK Properties.
This joint venture is a strategic move that underscores RAK Properties' commitment to broadening the emirate’s appeal as a destination for those seeking a dynamic and balanced lifestyle.
The new development aligns with the vision of offering a unique blend of creative living and collaborative workspace options in Ras Al Khaimah within a vibrant community setting.
HIVE embodies a cutting-edge living solution tailored specifically for the dynamic lifestyle of young professionals. Designed to cater to the discerning needs of this demographic, HIVE offers more than just a residence – it delivers a comprehensive plug-and-play living experience.
This concept is rooted in the pillars of flexibility, community, and convenience, forming the cornerstone of HIVE's commitment to providing a living environment that seamlessly aligns with the contemporary aspirations and preferences of young professionals.
Mohammad Al Shehhi, the CEO of ARM Holding, said: "We are pleased to announce our partnership with RAK Properties to develop HIVE Ras Al Khaimah. This collaboration represents a significant step forward in our journey, reinforcing our commitment to creating forward-thinking residential communities that align with the dynamic lifestyles of young professionals."
"Following the success of ‘HIVE Dubai’ and our expansion in the regional market with ‘HIVE Riyadh’, we are excited to bring this vision to Ras Al Khaimah, where we aim to establish an integrated community that inspires creativity and innovation," he stated.
RAK Properties CEO Sameh Muhtadi said: "Our partnership with HIVE marks a key milestone in RAK Properties' commitment to innovation and enhancing Ras Al Khaimah's lifestyle and residential offerings. This integrated development, blending coliving and coworking spaces, sets a new benchmark for living and working environments in the emirate."
"We are creating vibrant communities that foster connection, growth, and ideas, positioning Ras Al Khaimah as a destination of choice for the next generation of entrepreneurs and innovators," he added.
The HIVE building will be equipped with a range of amenities designed to encourage community and convenience, including a flexible work lounge, listening room, chef’s kitchen, outdoor areas, and a private pool with stunning views.
Residents will enjoy complimentary access to the coworking space's offerings, while the public can choose from a variety of membership plans.
The coworking space is intended to be a vibrant, social environment for work and collaboration, featuring dedicated desks, private offices, meeting rooms, quiet zones, event spaces, and a coffee bar. An outdoor area will extend the workspace, catering to those who prefer to work in an open-air environment.
Bass Ackermann, CEO of HIVE, said: "This collaboration seamlessly merges HIVE’s innovative living concept with RAK Properties’ desire to create a vibrant destination for young entrepreneurs and professionals. It is a merging of expertise, dedicated to shaping distinctive, community-centric living spaces that resonate with the unique aspirations for Mina Al Arab."
The development will also include an all-day eatery, serving residents, coworking members, and the broader Mina Al Arab community, further enhancing the lifestyle experience offered by this landmark project.-TradeArabia News Service
