According to RAK Properties, work on the United Arab Emirates’ first ‘Maldivian’ inspired overwater villa complex in Ras Al Khaimah is progressing and will open in the year 2020.
The 306 room Anantara Mina Al Arab Ras Al Khaimah property will be operated under the brand of InterContentinal Hotel Group (IHG), and it will feature a variety of luxury rooms and suites, a couple of pools, a well-equipped gym, a health club and spa, and a number of specialty restaurants.
The opening of the overwater villa complex will come after the successful handover of Bermuda Villas in 2017, along with the launch of a couple of residential projects in Mina Al Arab, plus another on Abu Dhabi’s Reem Island, which is currently under construction.
RAK Properties is one of United Arab Emirates’ top property development and tourism infrastructure firms, with proven excellence in a diverse range of projects, which includes mixed-use community developments, health spas and hotels, strategically placed retail shops. The company’s Public Joint Stock Company plays a major role in shaping UAE residents’ lifestyle.
RAK Properties was founded in 2005 from the vision of the Ruler of Ras Al Khaimah, His Highness Sheikh Saud Bin Saqr Al Qasimi. The company delivers top-quality and professionally managed projects that offers its customers the highest level of service, while maximizing the value of their investments.
The company has sound capital of AED 2 billion, and its Initial Public Offering in early 2005 was oversubscribed by nearly fifty-seven times. RAK Properties in its operation to lead the development of real estate and tourism infrastructure in Ras Al Khaimah, it aims to attract overseas investors of repute to launch advanced projects, which includes resorts and malls, and luxurious hotels.
In doing so, the company serves as a catalyst for dynamic property market in both the UAE and Ras Al Khaimah as well.
All of their key developments are uniquely closely linked to nature, providing an excellent location for activities outdoors. They build communities with sustainable approach to create healthy and energy efficient environments where future generations can live in harmony with nature.
Ras Al Khaimah’s biggest property developer, RAK Properties in 2017 posted a net profit of AED 192 million, which is a 10% rise from 2016, which was AED 175 million.
According to Mohammed Al Qadi, the company’s Chief Executive Officer and Managing Director, this net profit will give RAK Properties balanced financial leverage to support their ongoing projects and launch new projects.