- The development is expected to attract significant interest from investors looking for high-return opportunities in a thriving market.
Ras Al Khaimah launches another island destination – Raha – as real estate boom continues
Dubai: Ras Al Khaimah has launched another ‘island’ destination as the emirate taps into the ongoing real estate boom built around high-end hotels and serviced residences.
RAK Properties, the master-developer, is backing the ‘Raha Island’ project, located in Mina Al Arab, and which will also include extensive retail space, marinas, beach clubs, and leisure options.
“We are confident that the current demand from customers for upscale meticulously designed developments will be delivered at Raha Island,” said Sameh Al Muhtadi, CEO.
“Our task now is not only to meet this demand, but to exceed expectations by further enhancing this prestigious destination.”
A NEW ISLAND MAGNET FOR HOTELS
Three 5-star hotel brands have already confirmed plans for locations on Raha Island
Since last year, there have been multiple luxury focused launches, with Emaar bringing in its Address brand and Aldar launching a Nikki Beach project. In addition, there are the many hotel projects, including the flagship Wynn development on Al Marjan Island.
Heavy investments have been flowing into Al Marjan Island, with the first of these landmark projects likely to open in the next 3 years. Under the circumstances, RAK Properties’ decision to launch Raha Island comes across as timely, creating another focal point for investors.
Raha Island will include over 2.5 kilometres of ‘accessible public beaches’.
As for the new marinas on the island, they will be the ‘perfect launching point for water sports and adventures, or simply a relaxed day out on the water’. A water transit will offer connectivity across Mina Al Arab, ‘providing residents and visitors the ability to explore local attractions or catch the hydrofoil to other Emirates to the south’.
