UAE-based The Luxe Developers has officially launched its 1.5 billion UAE dirhams ($408.4 million) Oceano, a twin-tower waterfront development, on Al Marjan Island, Ras Al Khaimah.

The 18-storey twin-tower development will house 206 units, comprising one-, two-, three- and four-bedroom apartments, six penthouses, and two exclusive sky villas, the developer said in a statement.

Last month, the developer officially broke ground on Oceano, which will have a built-up area (BUA) of 79,000 square metres.

(Writing by P Deol; Editing by Anoop Menon)

(anoop.menon@lseg.com)