Dubai Investments on Tuesday announced a Dh1 billion flagship project in Ras Al Khaimah to meet the rising demand for luxury homes in the UAE.
To take advantage of the growth potential in the area, the top investment firm listed on the Dubai Financial Market unveiled Danah Bay, a 90,000 square metre (sqm) beachside community and lifestyle destination on Al Marjan Island. The estimated beach size is 40,000 square metres.
The project features opulent townhouses and villas, waterfront apartments for residents, a high-end 4-star hotel resort, and a neighbourhood shopping centre. The hotel will contain serviced apartments, a beach resort, and 300 keys.
The first phase of the construction should begin by the end of this year, and it will be finished by the end of 2024.
The residential and hotel sectors have a tonne of potential in this region, according to Khalid bin Kalban, vice-chairman and CEO of Dubai Investments.
“We have announced this integrated beach community in Ras Al Khaimah, that will capitalise on the lucrative opportunities of the emirate, creating a benchmark in mixed-use development and providing a long-term value to the economy,” Kalban said at the launch event in Dubai on Tuesday.
Danah Bay is a freehold development that offers stunning views of the sunrise, the Arabian Gulf, and the vast Ras Al Khaimah skyline, making it the perfect option for a vacation house, a primary residence, or an investment property. The project’s design encourages well-being while providing investors with profitable business options and beautifying the countryside.
“Benefiting from the Group’s resilient business model, supporting diversification through unique investments, Danah Bay is a step forward in strengthening the group’s real estate portfolio and expanding presence regionally,” Kalban said.
Beautiful two-bedroom townhouses with roof terraces, three-bedroom and four-bedroom beachfront villas, as well as waterfront residential flats, are just a few of the freehold housing options available in Danah Bay. Additionally, waterfront residential flats with one to four bedrooms are available.
In response to questions, Kalban stated that Dubai Investments is in discussions with the government of Ras Al Khaimah to purchase additional land in the emirate in order to launch some novel initiatives in the future.
“We see there is a demand in the market and we will definitely launch new developments, but currently we are monitoring the mood of the market. At present, our primary focus will remain on Danah Bay,” he said.
The Dubai Investments officials predicted that Danah Bay would profit from Ras Al Khaimah’s appealing residency requirements, the emirate’s expanding economy, and its favourable real estate market. The location of the project, according to the developers, is excellent: it is 50 minutes from Dubai International Airport, 60 minutes from Downtown Dubai, 30 minutes from Ras Al Khaimah Airport, and 30 minutes from Ras Al Khaimah City Centre.
One of the biggest investment firms in the UAE, Dubai Investments was founded in 1995 and is listed on DFM. It has a paid-up capital of Dh4.25 billion and total assets of Dh22 billion.
34 completely and partially owned companies that operate in a variety of important industries, including real estate, building supplies, construction and contracting, financial services, healthcare, and education, make up the company’s wide portfolio.