RAK Properties to commence handover of 6 buildings in Precinct 2 of Mina Al Arab Lagoon District

Press release
Published December 7th, 2011 - 06:06 GMT

RAK Properties, Ras Al Khaimah’s biggest property developer listed on Abu Dhabi Stock Exchange, has announced the commencement of the handover of six buildings in Precinct 2 of Mina Al Arab Lagoon District. 

The handover of these iconic six buildings, which have different unit types, including studio, 1, 2 bedrooms and garden apartments, backed with world-class amenities, reflects the company’s impressive growth in the UAE.  

Mohamed Sultan Al Qadi, Managing Director and CEO of RAK Properties said that most of the units in these buildings were sold previously at an earlier stage, we are delighted to handover the units to the owners. 

He added: “Located in a dynamic neighborhood of shops, cafés and cultural gardens, these buildings directly face the lagoon, and the unique tiered design allows residents to enjoy unobstructed views of the sea, no matter where their home is located.” 

The company has also started the leasing of the Lagoon Walk shops that will offer a retail mix for Mina Al Arab residents and the wider Ras Al Khaimah community. 

RAK Properties is now in the process of choosing retail F&B brands for casual and fine dining and fast food restaurants, as well as Ladies and Gents saloons, beauty and spas, healthcare services and pharmacy, laundry, gym and health club, ladies cosmetics and accessories, kindergarten, coffee shops, flower shops to cater to the needs of its residents as well as the entire emirate. 

RAK Properties has already reported high demand for these buildings that are located in a strategic point in the Mina Al Arab flagship community project in Ras Al Khaimah. 

One of the unique selling points of Mina Al Arab is the richness of experiences, that extends to the natural surroundings residents and guests will discover as they journey through the development. 

Al Qadi added: “The Lagoon Walk shops, where RAK Properties has started leasing spaces serves as an ideal shopping pathway, and acts as a link between the residential communities. It offers a diverse and colorful shopping environment that caters to the needs of everyone in Ras Al Khaimah and beyond.” 

RAK Properties said that huge progress has been made on RAK Properties projects in 2011 and the company has ensured timely delivery to business and residential clients backed with superior quality standards. 

Underlining the importance of Mina Al Arab, Al Qadi added: “In addition to a range of hotels, resorts and eco-tourism possibilities, Mina Al Arab is made complete by a host of amenities which complement the community and make it the ideal home, or the perfect retreat. From fun activities such as water and family parks, strategically-placed retail locations and facilities to serve the development, Mina Al Arab is a thoughtful meeting of practical amenities and exceptional hospitality for both residents and visitors.”  

He added: “Encompassing intimate streets, green spaces, boutiques, cafés and restaurants, our new customers in these six buildings will enjoy close proximity to a variety of activities in a lively, animated environment – all with water views.” 

Mina Al Arab, the new waterfront community in Ras Al Khaimah where lush landscaping, protected coastal wetlands and natural pristine beaches blend with homes, hotels and world-class amenities stands for a quintessential vacation experience. Whether used as a primary residence, weekend getaway or vacation retreat, Mina Al Arab is a destination that offers the very best of vacation living.

Background Information

RAK Properties

RAK Properties is a Public Joint Stock Company (PJSC) formed in 2005 with the support of the Government of Ras Al Khaimah (RAK).

Founded in line with the vision of His Highness Sheikh Saud Bin Saqr Al Qasimi,  Ruler of Ras Al Khaimah, RAK Properties aims at supporting and promoting the economic growth of Ras Al Khaimah as well as assisting the emirate’s community development initiatives. RAK Properties will also maximize shareholders’ value through its development projects in the coastal and inland areas of Ras Al Khaimah. 

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