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RAK Properties PJSC, (ADX: RAKPROP), Ras Al Khaimah’s leading publicly listed property developer, and Ellington Properties, Dubai’s award-winning, design-led boutique developer, have joined forces to develop a premium residential beachfront project on Hayat Island, located in Mina Al Arab. This partnership marks Ellington Properties’ entry into the emirate and aims to bring a new perspective to exclusive waterfront living. With direct beach access and a design-led approach, this joint project will offer multi-family apartments, high-end restaurants, and resort-style amenities, providing residents with the highest quality lifestyle.
Hayat Island: A Prime Location for Luxury Living
Hayat Island, situated in Mina Al Arab, is a prime location for luxury living in Ras Al Khaimah. The development on Hayat Island is part of RAK Properties’ broader master plan, which includes luxurious shopping, dining, and entertainment facilities. One of the key highlights of the island is Angel Bay, a unique outdoor leisure destination that sets the scene for clubs, restaurants, activities, and entertainment. As the focal element of Hayat Island, Angel Bay adds to the wealth of lifestyle offerings available in the area.
RAK Properties’ Strategy for Growth and Partnerships
The partnership with Ellington Properties is a strategic move for RAK Properties to expand its portfolio and meet the rising demand for quality real estate in Ras Al Khaimah. By forming partnerships with top-tier local and international investors, RAK Properties aims to capitalize on the growing interest in the Emirate’s real estate market. This collaboration also supports RAK Properties’ ambitions to add scale across its core development assets.
Ellington Properties’ Vision for Ras Al Khaimah
Robert Booth, Co-Founder and Managing Director of Ellington Properties, expressed his excitement about working with RAK Properties to develop their first project in Ras Al Khaimah. The expansion into the emirate aligns with Ellington Properties’ strategy to accelerate growth and provide their unrivaled living environments to more people. The joint residential apartment project on Hayat Island will contribute to the wealth of lifestyle offerings in the area, enhancing the quality of life for residents.
Sameh Al Muhtadi’s Vision for Mina Al Arab
Sameh Al Muhtadi, CEO of RAK Properties, emphasizes that Ras Al Khaimah is a sustainable tourism destination, attracting both international and local investors and tourists. Mina Al Arab, where the development is taking place, aims to create a highly experiential ‘urban island’ lifestyle destination. It brings together the conveniences of urban living with the free-spirited energy of island life. The partnership with Ellington Properties perfectly aligns with this vision, as it seeks to develop extraordinary homes and experiences that elevate people’s lifestyles in Mina Al Arab, Ras Al Khaimah’s most exclusive residential area.
FAQs
1. What is the significance of the partnership between RAK Properties and Ellington Properties?
The partnership between RAK Properties and Ellington Properties is significant as it marks Ellington Properties’ entry into Ras Al Khaimah. It also represents RAK Properties’ strategy to form partnerships with top-tier local and international investors to meet the rising demand for quality real estate in the Emirate.
2. Where is the residential beachfront project located?
The residential beachfront project is located on Hayat Island, in Mina Al Arab
