PHOTO
Dubai-based luxury real estate developer BNW Developments plans to roll out 12 new projects in Ras Al Khaimah (RAK) with a gross development value (GDV) of around 20 billion UAE dirhams ($5.44 billion), its chairman said during the launch of its latest ultra-luxury development on Al Marjan Island.
“The 12 projects, with a focus on durability and value, comprise eight in RAK Central and four in Al Marjan beach, and will be launched in 2026,” Ankur Aggarwal, co-founder and chairman of BNW Developments, said at the unveiling of Tonino Lamborghini Residences on Al Marjan Island.
Aggarwal said the new projects with a built-up area of more than 10 million square feet (sq. ft.), would target international buyers, particularly from the United States, Europe and Australia, reflecting the growing demand for ultra-luxury and branded residences in the northern emirate.
“The projects include a five-star hotel brand and a fashion brand,” he disclosed.
Aggarwal described Al Marjan as “the most exciting emerging landscape’ driven by futuristic, ultra-luxury and branded residences projects.
“There are 32 Michelin star restaurants on this 2.7 square kilometre island - you will probably have all the big brands of this world coming in at the same time on the same island,” he said.
BNW Developments’ portfolio exceeds AED 32 billion ($8.7 billion) in GDV, according to a company statement. The developer is led by chairman and founder Ankur Aggarwal, alongside managing director and co-founder Vivek Anand Oberoi.
Tonino Lamborghini Residences offers a collection of 377 apartments including studios, one, two, and three-bedroom residences, alongside villas, penthouses, and mansions. The project has been designed by Angela Krieger with interior design by Architect Carlos Rossi.
“The Tonino Lamborghini brand has always spoken the language of emotion, proportion, and beauty,” said Vivek Oberoi. “Through this collaboration we are bringing this timeless, historical sensibility to Ras Al Khaimah, reimagined through BNW Developments’ modern, cosmopolitan vision.”
Tonino Lamborghini, Founder of the Tonino Lamborghini brand, added: "The partnership with BNW Developments opens a new chapter in a strategic market and allows us to shape a destination that tells my story and my vision: a balance between identity and future.”
BNW Developments’ existing Al Marjan luxury residential portfolio includes 226-unit Aqua Arc; 228-unit Fashion TV Acacia by BNW; 29-unit Aquino boutique residential project; 158-unit Pelagia high-rise residential tower; 99-unit Aqua Maya low-rise towers and the 336-unit Taj Wellington Mews branded luxury residential twin towers.
(Reporting by Bhaskar Raj; Editing by Anoop Menon)
Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.
