PHOTO
Abu Dhabi-listed RAK Properties is adding at least four residential towers to its portfolio, to tap into strong demand for prime properties.
The developer’s Cape Hayat, spread across a 22,854-square-metre site on Hayat Island in Mina Al Arab, Ras Al Khaimah, will feature 668 residential units, including studios, two-bedroom flats and luxury penthouses.
Two of the towers will be 20 stories high, while the other two will be nine stories, the developer said during the launch of the project on Tuesday.
A selection of apartments will be up for grabs to buyers across the globe during a public sale that runs from September 22 to 23 at Four Seasons Resort Dubai, Jumeirah Beach.
“We are launching Cape Hayat to cater to the significant demand for quality homes in prime destinations in Ras Al Khaimah,” said Sameh Muhtadi, CEO of RAK Properties.
“We have witnessed increased investor sentiment for premium homes that embody the epitome of luxury and elegance… We hope this positive sentiment continues as market fundamentals and economy are strong and we’ll continue to tap into demand.”
The UAE continues to attract high-net-worth individuals who are looking to buy premium properties. In Dubai alone, at least 95 residential properties with a price tag of more than $10 million were sold during the second quarter of the year.
The number of premium homes sold in the emirate outpaced those in other top destinations, including New York, Paris, London, Hong Kong, Miami and Sydney, among others, according to consultancy Knight Frank.
(Writing by Cleofe Maceda; editing by Brinda Darasha)
