The 3,623m2 development will be completed by 2020.

27/09/2017 16:31 AST

Comprising one-, two-, and three-bedroom apartments, as well as duplex units, the tower will be surrounded by amenities such as restaurants, shopping options, parks, walkways, and gardens.

Designs for the development's one- and two-bedroom apartments focus on functionality and modernity.

The project's three-bedroom apartments feature open spaces and spacious living areas.

Meanwhile, the duplex homes will offer high-end furnishings.

Commenting on the project, Mohammed Sultan Al Qadi, the managing director and chief executive officer of RAK Properties, said: "With the exponential market response to Hayat Island, Northbay Residence is continuing to attract investors.

"The development will leverage from our expertise of delivering vibrant and modern communities," he added.

RAK Properties is developing the project in line with the UAE's initiatives to attract visitors and tourists, Al Qadi said.

This September, the company unveiled Hayat Island, a 55.7ha mixed-use project that will feature food and beverage, shopping, and recreational offerings, in addition to hospitality and residential options, in Ras Al Khaimah.

Hayat Island's residential component comprises 2,457 apartments, split as 1,152 one-bedroom, 985 two-bedroom, and 320 three-bedroom units.

Townhouses and villas will also be developed as part of the project’s residential component.

A five-star InterContinental-branded hotel, featuring 351 rooms, will also be developed within the project, in addition to 200 serviced apartments, and two more hotels, according to a press statement by RAK Properties.

Commenting on the project, Al Qadi said: "Hayat Island is RAK Properties’ latest flagship project in the market and will be one of our distinctive developments.

"The property is set against a beach, which will make it the most sought after destination in years to come.”


Construction Week Online

RAK Properties’ AGM approves cash dividend of 6% for 2017

20/03/2018

RAK Properties said its board approved increasing the cash dividend to 6 per cent of the nominal value of share (6 fils per share), up from the recently recommended 5 per cent.

“The year 2

Gulf News

RAK Properties posts 10% jump in net profit for 2017

16/02/2018

RAK Properties reported on Thursday a 10 per cent increase in its net profit for 2017, reaching Dh192 million from Dh175 million in 2016. Revenues of the company for 2017 were at Dh313 million. Net o

Gulf News

RAK real estate comes into its own

04/10/2017

Reasonable price, accessibility, luxurious amenities and other incentives are driving the real estate market in Ras Al Khaimah. Investors and real estate businesses are heading north, quick to sense

Gulf News

Ticker Price Volume
SABIC 123.40 5,002,630
RAKPROP Sector Market
P/E
Price/BookValue
Dividend Yield (%)
Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg
Ticker Price Change
ERES 10.70 0.10 (0.94%)
BRES 35.89 0.58 (1.64%)
MABANEE 700.00 7.00 (1.01%)
UDCD 13.90 0.00 (0.00%)
REAM 1,572.00 0.00 (0.00%)
Bank Nizwa participates in Malaysia industry event

20/08/2019

Bank Nizwa, represented by two of its Board Members, Sami Al Dhugishi and Ishaq Al Maouli along with Chief Executive Officer, Khalid Al Kayed, participated in the 2nd Islamic Financial Services Board

Times of Oman

Emirates NBD stands chance to renegotiate Denizbank acquisition

14/08/2018

The sharp decline of the Turkish lira in recent weeks has triggered speculation in banking circles that Emirates NBD stands a chance to renegotiate its deal to acquire Denizbank as the valuation has

Gulf News

Eshraq reports best half-year since 2014

14/08/2018

Abu Dhabi-listed Eshraq Properties reported a first-half net profit of Dh14.8 million, compared to a loss of Dh0.32 million in the first half of 2017. The property firm said in a press statement that

Gulf News

Damac and RHG to launch Radisson Hotel

14/08/2018

Damac Properties has signed a landmark agreement with Radisson Hotel Group (RHG) to develop and launch the ‘Radisson Hotel, Dubai Damac Hills’, its first, newly launched Radisson-branded property wor

The Gulf Today

Adnoc Distribution net profit up 18pc in H1

14/08/2018

Abu Dhabi National Oil Company for Distribution (Adnoc Distribution) has reported that net profit for the six months ended June 30, 2018, increased by 18 per cent to Dh1.124 billion ($306 million) co

Trade Arabia