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 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

RAK Properties hands over 157 luxury residential units

06/07/2017

Leading real estate developer RAK Properties said it has delivered 157 luxury residential units at Bermuda Villas, its latest residential development in Mina Al Arab, an established waterfront commun

Trade Arabia

RAK Properties delivers Bermuda Villas project

05/07/2017

RAK Properties has announced the delivery of Bermuda Villas, its latest residential development in Mina Al Arab. The villa project, the latest edition to the company’s already diverse property portf

Gulfnews

Ticker Price Volume
QNBK 124.49 629,141
SABIC 100.91 2,837,584
STC 68.05 146,812
ADNOCDIST 2.64 8,269,986
ARNB 24.61 104,008
ALMARAI 55.29 169,404
BURUJ 33.16 457,204
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 11.40 0.20 (1.78%)
BRES 30.20 -0.16 (-0.53%)
MABANEE 715.00 13.00 (1.85%)
UDCD 13.59 0.69 (5.34%)
SRE 355.00 0.00 (0.00%)
DIB scoops four accolades at Islamic Business and Finance Awards 2017

14/12/2017

Dubai Islamic Bank (DIB), the largest Islamic Bank in the UAE, picked up four major awards at the Islamic Business & Finance Awards 2017, a prestigious industry event that endorses and recognises tho

CPI Financial

NBF retains “Best Islamic Window–UAE” Award

14/12/2017

NBF Islamic has once again taken home the coveted accolade titled “Best Islamic Window–UAE” for the second consecutive time at the Islamic Business & Finance Awards 2017.

Prevailing over f

CPI Financial

FAB inaugurates new HQ after merger

14/12/2017

First Abu Dhabi Bank (FAB) marked the official inauguration of its new headquarters in Abu Dhabi’s Khalifa Business Park at an event attended by senior management.

The new location marks t

Gulfnews

Etisalat signs 15-year lease pact with Gulf Data Hub

14/12/2017

Etisalat signed an exclusive 15-year wholesale lease agreement with Gulf Data Hub to acquire the full capacity of its Tier III data centre to provide data centre services to private enterprises, gove

Gulfnews

Batelco EGM approves key resolutions

14/12/2017

Batelco, an international telecommunications group with operations across 14 countries, today held an extra-ordinary general meeting to discuss proposed changes to Batelco’s Memorandum and Articles o

Trade Arabia