RAK Properties, Ras Al Khaimah’s leading publicly listed property developer, and Ellington Properties, Dubai’s award-winning, design-led boutique developer, have signed an agreement to develop a premium residential beachfront project located in a prime location on Hayat Island, in Mina Al Arab.
The partnership with Ellington Properties forms an important part of RAK Properties’ strategy to form partnerships with top-tier local and international investors to capitalize on the rising demand for quality real estate in the Emirate.
It also supports its ambitions to add scale across its core development assets. Further, the partnership marks Ellington Properties’ entry into the emirate.
Sameh Al Muhtadi CEO RAK Properties
“Ras Al Khaimah is the UAE’s sustainable tourism destination, and international and local investors and tourists alike are attracted to all it has to offer in terms of the unspoiled natural environment. At Mina Al Arab we are creating a highly experiential ‘urban island’ lifestyle destination in the heart of Ras Al Khaimah, bringing to life the conveniences of urban living with the free-spirited energy of island life. Our partnership with Ellington aligns with this vision as we look to partner with best-in-class organizations to develop extraordinary homes and experiences that will elevate people’s lifestyles in Mina Al Arab, Ras Al Khaimah’s most exclusive residential area.”
With direct beach access, the first joint residential apartment project will bring a new perspective to exclusive waterfront living.
According to the statement, “Comprising multi-family apartments, the project will reflect Ellington Properties’ design-led approach, with exceptional features including high-end restaurants at ground level and resort-style amenities, providing the highest quality lifestyle.”
The development forms part of RAK Properties’ broader master plan for Hayat Island, offering luxurious shopping, dining, and entertainment facilities alongside Angel Bay, a unique outdoor leisure destination that is the first of its kind in Ras Al Khaimah.
Mr. Robert Booth, Co-Founder and Managing Director of Ellington Properties said that, “Our expansion into the emirate forms part of our strategy to accelerate our growth to meet the demand for our developments, bringing our unrivaled living environments to more people. This project will add to the wealth of lifestyle offerings available at Hayat Island and provide our residents with an enhanced quality of life.”
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