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Measuring 811.42m2, the AED5bn development, within Mina Al Arab, will become the new social hub in Ras Al Khaimah, featuring a shopping mall, entertainment zones, luxury hotels and residential properties
Ras Al Khaimah: RAK Properties PJSC, Ras Al Khaimah's biggest property developer listed on the Abu Dhabi Stock Exchange, has revealed details of its latest development with an investment of AED5 billion. The new major development of Ras Al Khaimah's Mina Al Arab was revealed during Cityscape Global 2016, the Middle East's leading international real estate event taking place from 6-8 September at the Dubai World Trade Centre.
Set to be the new social and entertainment hub of Ras Al Khaimah, the new major development measures approximately 811,420m2 and will feature an international 5-star resort, an international 4-star lifestyle resort, serviced apartments, a shopping mall, beautiful beach and waterfront apartments, villas and townhouses with a private beach clubhouse, and along the beach there will be al fresco dining and entertainment venues.
Mohamed Sultan Al Qadi, Managing Director and CEO of RAK Properties said: "This will become the leading touristic, residential and commercial destination in Ras Al Khaimah. The development breathes life into the serenity of the emirate, while keeping true to nature. The upbeat hub of the development provides an array of facilities and entertainment outlets, allowing for residents and visitors to enjoy the best of what Ras Al Khaimah has to offer."
As with neighboring Mina Al Arab communities, outdoor living is incorporated across the project with a number of large communal swimming pools, running and cycling tracks and various recreational activities. At the heart of the community will be a sweeping beach promenade which will host a diverse range of retail and F&B offerings, in addition to an expansive mall with leading international brands, outdoor entertainment venues, a beach club and cycle tracks and walkways.
Senior officials and spokespeople from RAK Properties will be present throughout Cityscape Global 2016 at stand number S3F30, Hall 3 to address any queries and interact with potential buyers and existing customers.
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About
RAK Properties, a Public Joint Stock Company listed on the Abu Dhabi Securities Market, is a real estate development company established to implement the emirate's plans to promote real estate, tourism and leisure facilities in RAK and invest in interesting projects. It is intended that its activities will encourage economic growth in the UAE in general and Ras Al Khaimah in particular. The company launched its first project, Julphar Towers - a 45-storied twin office and residential project at a cost of AED 500 million - in February 2006 followed by Mina Al Arab - spread over 43 million sq. feet at a cost of AED 10 Billion - in May 2006. It also launched RAK Tower in Abu Dhabi at Cityscape Dubai. For more information, please visit www.rakproperties.net
Press contacts:
The MCS Action PR team
Peter Redding/ Samer El Zein/ Parisa Bukhowa
+971 (4) 390 2960
peter.r@actionprgroup.com / samer.z@actionprgroup.com / parisa.b@actionprgroup.com
© Press Release 2016
