2013-10-07

104 waterfront villas and two 20-storey buildings overlook Arabian Gulf and Mina Al Arab Lagoon

Ras Al Khaimah, UAE, 7 October 2013: RAK Properties PJSC, Ras Al Khaimah’s biggest property developer listed on Abu Dhabi Stock Exchange, has announced the expansion of Mina Al Arab by unveiling two new flagship projects at Cityscape Global 2013, the Middle East’s leading international real estate event taking place from 8-10 October 2013 at the Dubai World Trade Centre. The projects offer 104 waterfront villas and two 20-storey building overlooking the Arabian Gulf and the Mina Al Arab Lagoon with an investment of approximately AED 400 million.

The new development of ‘Flamingo Villas’ which enjoys a sea view will come with all amenities, including separate swimming pools for adults and kids, children’s play area with different play equipment, a multipurpose court and green turf areas.

Mohamed Sultan Al Qadi, Managing Director and CEO of RAK Properties, said: “We are very excited about launching this magnificent projects at Cityscape Global 2013. This will boost further RAK Properties’ frontline position in real estate development not only in Northern Emirates but also in the Gulf. The projects will follow the same high quality standards seen in our earlier projects.”

“In addition to maintaining the existing standards of Mina Al Arab, the new projects will feature value additions, wider areas and great views,” Al Qadi added.

The second project ‘Lagoon Heights’ is a two 20-storey mixed use buildings available for freehold, reflecting outstanding design elements and natural ambience of Mina Al Arab.

“The units in ‘Lagoon Heights’ include one, two, and three bedroom apartments as well as studios and garden apartments. Residents of each unit will be able to enjoy unobstructed water views, irrespective of the direction of the unit,” Al Qadi added.

Al Qadi added that the new projects offerings will be in line with the high standards of living in Mina Al Arab. He said this project was a clear reflection of RAK Properties’ motto ‘Living Closer to Nature’

RAK Properties stand No. 6E20 in Hall No. 6 at Cityscape Dubai is fully geared to provide all information on Mina Al Arab, through the presence of senior officials ready to address all queries.

“We have designed Lagoon Heights, one of the residential clusters in Mina Al Arab, for those who insist on having the best of both worlds – the comforts of modern urban dwelling as well as the serenity and elegance of nature. With a wide selection of homes available in the market, buyer’s preferences are getting more and more refined today. Lagoon Heights will offer varied choices of homes for the most discerning of buyers,” Al Qadi said.

“These projects represent a new milestone in the company’s history and will be completely self-contained, creating their own identity, enriching the project portfolio of  RAK Properties. “

RAK Properties is one of the largest real-estate developers in the GCC and is currently engaged in a massive expansion phase. The company has developed a large and strong clientele, and enhancing its standing by bringing in top international brands to its projects.

Editors Note:

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, Julfar 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.