Ras Al Khaimah is famous for its magnificent tourist attractions and facilities that have helped it to build up a substantial lead in tourism among the other Emirates and the neighboring Gulf countries. In the past couple of years, Ras Al Khaimah has faced a number of developments in the Tourism and Real Estate sectors due to the expanding population in Ras Al Khaimah. The increase in demand in the Real Estate market has triggered major investments which has in turn increased the market competition. Some of the major Real Estate and Tourism project developments in Ras Al Khaimah are mentioned below.
Saraya Island Project
The Saraya Islands project will occupy the pristine seven-kilometer Julphar Island, located between the outstanding range of the Hajjar Mountains and the azure water of the Arabian Gulf. When completed it will cover an area of over one million square meters.
The project will encompass exclusive palatial waterfront estates, high-end designer villas, lagoon view townhouses with private piers, waterfront terraced apartments, world class themed hotels, exotic bungalows, a top-of-the-line spa and services rental villas. Other project facilities will include retail shops, restaurants, entertainment outlets, Arabian sailing boats, an amusement/water park, a state-of-the-art sports center, a futuristic planetarium, a cultural center, bicycle and waterfront walking trails, sailing, fishing and navigation facilities, a training institute, six kilometers of sandy beaches, tidal exploratory walkways, bird sanctuaries and car parks.
The project's master plan envisions the development of four distinct 'islands' referred to as 'al-Boum', 'al-Marsa', 'al-Sahab', and 'al-Wahat', in addition to the mainland 'Saraya Village' center. All four islands will be interconnected via a series of appropriately scaled, resort-style roads and bridges. Connecting the mainland and the islands is the Boulevard- a 2.5 km tree-lined, scenic and themed driveway. This avenue, which connects to the Emirates road extension, will terminate at Saraya Village, the most public area at the center of the Saraya islands project, and the gateway to the development.
For further details on Saraya Islands, please visit the following website:
www.sarayaislands.com
RAK Properties
RAK Properties, a Public Joint Stock Company listed in the Abu Dhabi Securities Market, is a real estate development company that operates in a sector that is enjoying an economic boom.
RAK Properties was established to implement the plans to promote real estate, tourism and leisure facilities in RAK and invest in interesting projects. It is intended that its activities will encourage economic growth in the UAE in general and Ras Al Khaimah in particular.
The following are the projects being developed by RAK Properties:
1. Mina Al-Arab
The Mina Al-Arab Project will be spread over 30 million sq ft and will have hotels, residential units, villas, hospital, schools, abra parks, landscaping and spas. One third of the area will be used for building and the rest will be preserved to retain the natural beauty and protect the ecology.
The project, valued at US$ 2.7 billion, will include 3,500 rooms for tourists, 3,500 residential units, mainly bora bora hotel units, and 388 villas. Additionally it will include:
The Mina Al Arab Project will be situated along the Al-Mezahmi & Al-Jazeera al-Hamra districts, Ras Al Khaimah. The first phase of the project is projected to be completed in 2010.
2. Mangrove Islands Creekside Development
Mangrove Islands Creekside Development will cover the construction of urbanite residential and commercial units and a hotel in an environmentally interesting area. The US$ 800 million project is located between the Al-Manar shopping mall and the Tower Links Golf Course.
3. Julfar Towers
The project consists of two 43 story tower blocks; one residential and one office tower on top of a three story podium. The podium caters for retail, and other activities such as fitness and parking. The project valued at US$ 150 million, is planned to be completed by June 2008.
The Cove Project
The Cove Project is a tourism project being developed by Orascom, the largest land development company in Egypt. Orascom Hotel Developments is also one of the key private players in the tourism sector and the largest single hotel owner in Egypt.
The Cove project sits on an idyllic water inlet on Ras Al Khaimah beach front just before the town center, located north of Dubai and just 40 minutes from Dubai International Airport on the Emirates Road.
The Cove extends across 50 acres and features 173 exclusive residences with private access to the beach. Featuring one, two and three bedrooms chalets, the resort in which the project resides also includes a five star beach hotel property.
The project is estimated to be completed in summer 2007.
For further information on The Cove project, please visit the following website:
www.thecove-uae.com
Al Hamra Village
The Al Hamra Village is a unique residential project only a 45 minute drive from Dubai International Airport, that will occupy a total area of 875 hectares consisting of a total of 3,500 units, encompassing studios, 1, 2 and 3 bedroom apartments, 3 bedroom townhouses, 4 bedroom duplexes, and 5 & 6 bedroom villas, all of which are 100% freehold. The Al Hamra Village enjoys an exclusive location facing the beautiful shores of the Arabian Gulf, while being surrounded by an 18 hole Championship Golf Course. It also boasts a large, private Marina, the existing 5 star Al Hamra Fort Hotel, and the upcoming 7 star Al Hamra Palace Hotel which will comprise of 350 rooms.
For further information on Al Hamra Village project, please visit the following website:
www.alhamravillage.com
La Hoya Bay
La Hoya Bay is located on the magnificent Marjan Island, in the coastline of Ras Al Khaimah, the northern most emirate of UAE.
La Hoya Bay Residence is the first phase of the La Hoya Bay development. Phase one comprises of 1310 freehold studio, one, two and three bedroom apartments. Floor areas are between 555 and 2,168 square feet and prices starting range from 445,000 AED. La Hoya Bay Residence is the perfect location for a permanent home, a weekend getaway or a wise investment.
La Hoya Bay Business Village is the second of series of projects planned on the magnificent Marjan Island, consisting of freehold offices, commercial & retail spaces with a free zone status. La Hoya Bay Business Village will create a modern centre of executive suites that are designed on highest standards and equipped with the latest technologies, services and superior amenities that are ideal for any size and type of company to be operational immediately on flexible terms.
For further details on La Hoya Bay, please visit the following websites: www.lahoyabay.com or www.khoie.com