2014-06-12

Sales of new units to commence on Saturday, June 14, 2014, at Waldorf Astoria in Ras Al Khaimah

UAE, June 10, 2014 – RAK Properties PJSC, Ras Al Khaimah’s (RAK) biggest property developer listed on the Abu Dhabi Stock Exchange, is set to launch Bermuda Villas on June 14, 2014 at the Waldorf Astoria RAK. The new offering is part of the company’s master development project, Mina Al Arab, a new waterfront community in Ras Al Khaimah where lush landscaping, protected coastal wetlands and natural pristine beaches come together with homes and world-class amenities to shape a vacation experience that you would be delighted to call home.

According to RAK Properties’ senior executives, the launch of the Bermuda Villas project follows after the successful response generated from the earlier launch of the landmark development project, Flamingo Villas, at last year’s edition of Cityscape Global. Bermuda Villas will be composed of 141 units—ranging from 3 to 6 bedrooms. Overlooking the Arabian Gulf, each of the Bermuda Villa units will present owners with a spectacular sea view of the RAK coastline along with a wide range of amenities like separate swimming pools for adults and children, play area with different play equipment, a multipurpose court and green turf areas. The project falls in line with the high standard of living in Mina Al Arab and clearly reflects the RAK Properties motto of ‘Living closer to nature.’

Mohammed Sultan Al Qadi, CEO, RAK Properties, said, “We are happy to announce the latest addition to our Mina Al Arab community, Bermuda Villas, which offers investors a taste of luxurious living accompanied with the promise of being closer to nature. We are truly overwhelmed at the tremendous response that we have received for Mina Al Arab, our landmark development offering, which has prompted us to develop these new villas to help address the demand of investors wanting to buy into the project. The launch will allow potential buyers to get a closer look at the new villas and the whole development as well. We remain upbeat that Bermuda Villas will play a key role in reinforcing RAK’s position as a premier tourist and investment haven for the UAE.”

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, thereby enhancing its standing by bringing in top international brands to its projects.

-Ends-

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.