RAK Properties and Minor Hotels to Develop Branded Residences
- Business Companies Real Estate Regional
Global Business Magazine- 5 minutes read
Ras Al Khaimah is witnessing real estate boom as its picturesque landscapes and beaches are attracting investors, both domestic and global, looking for investment opportunities in the last few years.
Ras Al Khaimah’s real estate market reported a tremendous growth performance as the value of transactions during the first six months of 2024 stood at $1.07 billion. In June alone, the real deals were $690 million, indicating the confidence of the investors.
Among these deals, Al Marjan Island recorded the highest sale value in the first half of the year, for a plot of land worth $174 million.
Joining the race, RAK Properties, Ras Al Khaimah’s leading publicly listed property developer, has expanded its partnership with Minor Hotels to introduce the upcoming Anantara Branded Residences on Mina al Arab in Ras Al Khaimah.
The signing ceremony took place during the Future Hospitality Summit, marking another significant milestone in RAK Properties’ vision to position Mina Al Arab as a leading global destination for luxury island living within a vibrant community hub.
This expanded collaboration, part of RAK Properties’ broader strategy of integrating renowned international hospitality brands, reinforces Ras Al Khaimah’s appeal to investors and residents seeking high-end living, the company said in a regulatory filing with Abu Dhabi Securities Exchange (ADX) on Wednesday.
By integrating world-class brands like Anantara, RAK Properties demonstrates its commitment to sustainable developments that enhance the Emirate’s allure for luxury living and tourism. This represents a milestone in the expansion of the company’s premium real estate portfolio and supports Ras Al Khaimah’s vision for luxury waterfront living.
The Anantara Mina Al Arab Ras Al Khaimah Residences promise an unparalleled lifestyle, where the tranquillity of traditional Thai design will meet the tropical allure of Ras Al Khaimah. Residents will enjoy the epitome of luxury living, complete with world-class amenities, private infinity pools, expansive terraces, and direct access to the pristine shoreline — all within the comfort and privacy of their own sea-view apartment or overwater villa.
The development will include around 94 residential apartments and 20 overwater villas.
JT&P, an innovative brand in architecture, master planning and integrated design practices, has been appointed as the lead designer, ensuring the project’s architectural excellence and seamless integration into the natural surroundings.
Expanding Luxury Portfolio
RAK Properties CEO Sameh Muhtadi said that their continued partnership with Minor Hotels is a key milestone in expanding luxury portfolio and the Anantara brand aligns perfectly with the company’s vision of delivering world-class, sustainable developments that highlight the natural beauty of Ras Al Khaimah.
This project not only elevates the living experience but reinforces Mina’s position as a premier global destination that fully embraces the unique elements of nature the emirate has to offer, he said.
Amir Golbarg, Senior Vice President, Minor Hotels Middle East & Africa, said that the partnership with RAK Properties, a visionary developer that shares our commitment to excellence and sustainability.
“Their deep understanding of Ras Al Khaimah’s potential and dedication to enhancing its natural beauty aligns seamlessly with our Anantara brand values. Together, we are creating unparalleled luxury experiences that not only elevate the living standards in the emirate but also position it as a premier destination on the global stage,” he added.
RAK Properties and Minor Hotels’ initial collaboration led to the opening of the award-winning Anantara Mina Al Arab Ras Al Khaimah Resort earlier this year. The resort is already breaking barriers in sustainable tourism and luxury by achieving the LEED Gold certification for its commitment to it eco-friendly practices.
