Promoting economic and real estate growth in the Emirate, RAK Properties has announced the start of foundation works for Towers 1 and 2 of the Bay Residence project on Hayat Island in Mina Al Arab, Ras Al Khaimah.
The multi-service project will play a major role in enriching the general design of the entire Hayat Island, which will contribute to attracting more investors and residents to this fast-growing and exceptional destination.
Mohammed Al Tair, acting CEO of RAK Properties, said the real estate market in the Emirate is awaiting the start of foundation work for the Bay Residence project, which is designed to meet the needs of both investors and buyers looking to reside in a distinctive residential area.
“The project is, of course, a stunning addition to company’s portfolio,” he said.
Al Tair stressed that projects undertaken by RAK Properties aim to provide the best options in the real estate market, both for those wishing to reside within quality projects that combine the elements of comfort, safety, and health within a multicultural society, and those seeking quality investments with rewarding returns.
Bay Residence is a mixed-use residential project that consists of four uniquely designed apartment buildings with a wide range of unit types and parking facilities, within a podium lined with restaurants and retail stores directly overlooking the beach.
Hayat Island, a fully integrated mixed-use development, spans six million square feet. It is one of two islands that make up Mina Al Arab, a waterfront community in Ras Al Khaimah with homes set amidst lush landscapes, protected wetlands and pristine beaches.
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