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Luxe Developers, a prominent UAE real estate company, has recently launched an impressive waterfront residential development in Ras Al Khaimah. With a staggering investment of Dh1.5 billion ($408 million), this project is set to be a game-changer in the Emirate’s thriving property sector. The 18-storey development, situated on Al Marjan Island, will offer a total of 206 units, including one, two, three, and four-bedroom apartments, along with six penthouses and two exclusive sky villas. The grand unveiling event took place at the prestigious Atlantis The Royal in Dubai and was attended by Bollywood actor Vivek Oberoi and India’s consul general Aman Puri.
The Resilience of the UAE Property Market
Despite the challenges posed by the coronavirus pandemic, the UAE’s property market has demonstrated remarkable resilience, thanks to government initiatives, rising oil prices, and various measures aimed at supporting the economy. In the first quarter of 2023, both villas and apartments in Dubai experienced strong annual capital gains, reflecting the market’s robust growth. According to a report by property consultancy ValuStrat, villas, which account for 13 percent of residential homes in Dubai, witnessed a significant annual growth of 17.1 percent, while apartment values rose by 6.6 percent.
Abu Dhabi, another key player in the UAE’s real estate sector, recorded an impressive number of real estate transactions during the same period. With 5,472 transactions worth Dh27.9 billion, the emirate experienced a remarkable doubling of deal values and a 66 percent increase in transaction volume, encompassing property sales and mortgages. These figures reflect the high demand and investor confidence in the UAE’s property market.
Ras Al Khaimah’s Increasing Attractiveness
Ras Al Khaimah, known for its stunning landscapes and strategic location, has emerged as a sought-after destination for real estate development. The demand from buyers in the region has prompted numerous developers to unveil new projects in this flourishing emirate. RAK Properties, an Abu Dhabi-listed company, recently announced plans to launch four residential projects and a hotel project worth billions of dirhams in Ras Al Khaimah this year. These projects, consisting of branded apartments and villas, will be part of the Dh10 billion Mina Al Arab master development, situated off the coast of Ras Al Khaimah.
Dubai Investments, a prominent name in the real estate industry, is also capitalizing on the growing potential of Ras Al Khaimah. The company is currently constructing a Dh1 billion residential development named Danah Bay on Al Marjan Island. The project will boast 337 units, including 209 villas and 128 apartments. Additionally, a 300-room, four-star hotel managed by Millennium and Copthorne Middle East Holdings will be part of this luxurious development.
A Closer Look at the Waterfront Project on Al Marjan Island
The centerpiece of Luxe Developers’ grand undertaking is the 18-storey residential project located on Al Marjan Island. Boasting stunning views of the waterfront, this iconic structure is set to captivate residents and visitors alike. With a total of 206 units, potential homeowners can choose from one, two, three, or four-bedroom apartments, each thoughtfully designed to create a harmonious blend of comfort and elegance. Additionally, the project features six penthouses and two exclusive sky villas, offering a privileged living experience to those seeking the pinnacle of luxury.
Unparalleled Luxury and Amenities
Luxe Developers has left no stone unturned in ensuring that their waterfront project stands out from the rest. The development not only promises luxurious living spaces but also offers a plethora of amenities and services that cater to the diverse needs of residents. From state-of-the-art fitness centers and infinity pools to tranquil spa facilities and beautifully landscaped gardens, every aspect of the project has been meticulously planned to create an unparalleled living experience.
A Star-Studded Launch Event
To commemorate this momentous occasion, Luxe Developers hosted a star-studded launch event at the prestigious Atlantis The Royal in Dubai. Bollywood actor Vivek Oberoi and India’s consul general Aman Puri graced the event with their presence, adding an aura of glamour and excitement to the proceedings. This high-profile gathering highlighted the significance of the waterfront project and solidified Luxe Developers’ reputation as a leader in the luxury real estate market.
FAQs
1. What makes the waterfront project in Ras Al Khaimah by Luxe Developers unique?
The waterfront project by Luxe Developers stands out due to its prime location on Al Marjan Island and its extensive range of residential units, including apartments, penthouses, and sky villas. The company’s commitment to delivering a luxurious and high-quality development is evident in its investment of Dh1.5 billion.
2. Are there any financing options available for buyers interested in the Luxe Developers’ waterfront project?
Unfortunately, Luxe Developers did not provide any details regarding financing options for the project. Potential buyers can contact the company directly for more information about payment plans and financing arrangements.
3. Who attended the launch event of Luxe Developers’ waterfront project?
The launch event of Luxe Developers’ waterfront project was graced by the presence of Bollywood actor Vivek Oberoi and India’s consul general Aman Puri. Their presence underscores the significance of the project and highlights the company’s commitment to attracting high-profile individuals.
4. What factors contributed to the rebound of the UAE’s property market?
The UAE’s property market rebounded strongly from the effects of the coronavirus pandemic, primarily due to government initiatives, higher oil prices, and various measures implemented to support the economy. These factors have instilled confidence in investors and encouraged growth in the real estate sector.
5. How did villas and apartments in Dubai perform in terms of annual capital gains?
According to a report from property consultancy ValuStrat, villas in Dubai experienced impressive annual growth of 17.1 percent, while apartment values rose by 6.6 percent in the first quarter of 2023. This performance highlights the positive market conditions and the potential for lucrative investments.
6. What other real estate projects are being launched in Ras Al Khaimah?
Apart from Luxe Developers’ waterfront project, other developers are also capitalizing on the growing demand in Ras Al Khaimah. RAK Properties plans to launch four new residential projects and a hotel project as part of the Mina Al Arab master development. Additionally, Dubai Investments is constructing the Danah Bay project, featuring villas, apartments, and a four-star hotel.
Conclusion
The launch of Luxe Developers’ waterfront project in Ras Al Khaimah marks an exciting development in the UAE’s real estate sector. With a Dh1.5 billion investment, this 18-storey development on Al Marjan Island is set to redefine luxury living in the region. The rebound of the UAE’s property market, along with the unveiling of other prestigious projects in Ras Al Khaimah, reflects the emirate’s increasing attractiveness to investors and homebuyers. The future looks promising for the UAE’s real estate industry, and Luxe Developers’ contribution to this growth further solidifies their position as a leading player in the market.
