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 unveils two new projects on Hayat Island

23/09/2018

Leading property development firm RAK Properties has announced the launch of two new 'exciting' projects - Marbella Villas and a new public realm entertainment area called Angel Bay - on Hayat Island

Trade Arabia

RAK Properties, UK firm to develop new tourism destination

16/09/2018

RAK Properties, one of the UAE’s leading property development and tourism infrastructure companies, is collaborating with leading international British architectural design firm RMJM to create a uniq

Trade Arabia

RAK Properties sets new heights in destination tourism

03/09/2018

RAK Properties, one of the UAE’s leading property development and tourism infrastructure companies, is collaborating with leading international British architectural design firm RMJM to create a uniq

The Gulf Today

Ticker Price Volume
QNBK 188.00 206,008
APPC 46.05 631,137
SABIC 123.20 3,755,595
YANSAB 64.00 775,609
SIECO 122.20 126,091
SAICO 10.38 422,162
SARCO 36.45 264,746
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 10.75 0.00 (0.00%)
BRES 37.60 -0.25 (-0.67%)
MABANEE 615.00 6.00 (0.98%)
UDCD 13.96 -0.04 (-0.29%)
SRE 328.00 -1.00 (-0.31%)
National Bank of Bahrain seeks to buy shares in rival

23/10/2018

National Bank of Bahrain (NBB) is weighing an acquisition of shares in Bahrain Islamic Bank (BISB), the company said in a disclosure on Monday. The lender is “considering making a potential voluntary

Gulf News

Bank Muscat celebrates al Mazyona salary prize draw

23/10/2018

Bank Muscat, the flagship financial services provider in the Sultanate, in step with its vision ‘To serve you better, everyday’ and commitment to partnership in promoting a strong savings culture Oma

Oman Daily Observer

BoS posts 13 per cent increase in net profit

23/10/2018

The Bank of Sharjah (BoS) has announced the results for the period ended September 30, 2018. According to results, net profit for the quarter reached Dhs301 million, registering a 13 per cent increas

The Gulf Today

Nakheel breaks ground on Dragon City twin tower project

23/10/2018

UAE master developer Nakheel today (October 22) broke ground on its Dh713 million ($194 million) twin-building project located within the Dragon City mixed-use community in Dubai.

The grou

Trade Arabia

FAB posts 16pc surge in Q3 net profit to $816m

23/10/2018

First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest and safest financial institutions, has reported third quarter earnings at Dh3 billion ($816 million), up 16 per cent

Trade Arabia