Ras Al Khaimah, UAE: RAK Properties PJSC, Ras Al Khaimah’s largest property developer listed on the Abu Dhabi Stock Exchange, has signed an AED 11.5 million enabling works contract with Al Nuaimi Group for its upcoming InterContinental® Ras Al Khaimah Mina Al Arab Resort.
Operated under the InterContinental Hotels Group’s (IHG) luxury brand, the 350 key resort, set to open in 2019, will feature a variety of luxury rooms and suites, a health club and spa, two pools, a well-equipped gym, and a number of specialty restaurants.
RAK Properties Managing Director and CEO Mohammed Sultan Al Qadi said: “Marking the next phase of Mina Al Arab, the InterContinental Ras Al Khaimah Mina Al Arab Resort and other planned hotels and resorts are pivotal elements in our Mina Al Arab masterplan. As Ras Al Khaimah’s new entertainment and lifestyle hub, Mina Al Arab will feature an array of five-star facilities and entertainment outlets providing visitors and residents with an unparalleled experience of the best Ras Al Khaimah has to offer.”
RAK Properties’ commitment to developing quality communities and hotel properties across the UAE, with a particular emphasis on Ras Al Khaimah, aligns with the country’s various activities and initiatives to attract international visitors. Once open, the InterContinental Ras Al Khaimah Mina Al Arab Resort and neighboring Anantara Mina Al Arab Ras Al Khaimah Resort, scheduled for completion in late 2018, will support Ras Al Khaimah’s goal of welcoming 2.9 million visitors by 2025.
Mina Al Arab is a vital part of Ras Al Khaimah’s development. The mega development, with an estimated investment of AED 5bn over the next five years, is situated only 45 minutes from Dubai International Airport. Its prime location and planned leisure projects will ensure for the success of the announced resorts and future investment opportunities.