Robust demand for Phase 1 units, growing popularity of Mina Al Arab community drive expansion.
RAK Properties PJSC, Ras Al Khaimah’s (RAK) biggest property developer listed on the Abu Dhabi Stock Exchange, has awarded construction for the second phase of its Flamingo Villas in the nature-themed Mina Al Arab waterfront development to the Al Nuaimi Group, one of the UAE’s leading construction and development companies. This follows a few months after the announcement of the latest phase in response to both strong demand for Phase 1 units and Ras Al Khaimah’s growing popularity as an investment and tourism destination.
Al Nuaimi Group was also contracted to construct the initial phase of the Flamingo Villas development, comprising of 124 units, which is set for delivery by the last quarter of 2015.
Scheduled for completion within a year’s time, Flamingo Villas Phase 2 will build on the momentum of Phase 1 and comprise of 68 units ranging in size from 2004 sq. ft to 2334 sq. ft. The popularity of the project reflects how more local and international owners are appreciating Ras Al Khaimah’s potential as a leisure and lifestyle haven that values the environment and local heritage.
Mohammed Sultan Al Qadi, Managing Director and CEO, RAK Properties PJSC, said: “Flamingo Villas is a part of our flagship master development, Mina Al Arab, that we entrust only to partners who are highly capable of realizing our vision for this landmark Community. Al Nuaimi Group’s impressive work on Phase 1 meets our expectations and showcases the type of living environment that makes the Flamingo district unique. We expect the same high-quality results from Al Nuaimi Group when it constructs this next phase. On a broader note, we are excited over the contribution of our projects to Ras Al Khaimah’s emergence as a preferred lifestyle and residential destination in the UAE”
All Flamingo Villas will enjoy convenient access to various amenities such as swimming pools, parks and fitness facilities. They have been carefully designed to complement Mina Al Arab’s themes of vacation-style living and environmental awareness and appreciation.
“Mina Al Arab and its components such as Flamingo Villas embody RAK Properties’ motto of ‘Living closer to nature.’ Al Nuaimi Group feels privileged to be part of a development that pays tribute to the emirate’s rich natural environment and culture. Once again we will use the best resources and talents to ensure that RAK Properties lives up to its promise and that Ras Al Khaimah receives the attention from property investors and travelers that it rightfully deserves given its ambitious development efforts,” added Dr. Rashed Al Nouaimi, CEO, Al Nuaimi Group.
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.