Ras Al Khaimah’s Real Estate Market Saw 15% Growth in First Half of 2024
Ras Al Khaimah, UAE – 1 October 2024– Major Developers has officially broken ground on the Manta Bay project, a transformative addition to Ras Al Khaimah’s luxury real estate landscape. The ceremony held (Thursday, September 19, 2024) on Al Marjan Island, underscores the developer’s commitment to fostering the emirate’s future growth.
Attended by key stakeholders from Marjan, the master developer of freehold properties in Ras Al Khaimah, Federal Engineering Consultants, and Civil Power General Contracting LLC (CPC), the enabling contractor, the event highlighted the AED 1 billion project as a cornerstone of Ras Al Khaimah’s strategy to enhance its standing as a luxury destination globally and in the region.
The launch of Manta Bay comes at a time of robust growth for Ras Al Khaimah’s real estate sector, which saw a 15% increase in transactions and value in the first half of 2024, reflecting strong investor confidence and a thriving market.
“Launching Manta Bay in Ras Al Khaimah is a strategic move that aligns with our ambition to lead in the luxury real estate sector. This project embodies our commitment to creating world-class living experiences in a market that holds tremendous potential,” said Andrei Charapenak, CEO of Major Developers.
“Al Marjan Island is the ideal location for an exclusive project of this magnitude,” commented Arch. Abdulla Al Abdouli, Chief Executive Officer, Marjan, the leading master developer of Al Marjan Island. “We are delighted to host innovative developments that showcase the unique appeal of our luxurious waterfront destination and attract premium investors to the picturesque emirate of Ras Al Khaimah.”
“Our role as the engineering consultancy for Manta Bay is to ensure that this development stands out in terms of quality and innovation,” said Dr. Walid Lutfy, Founder of Federal Engineering Consultants. “We look forward to seeing this project redefine the luxury real estate market in Ras Al Khaimah.”
“We are honored to be the enabling contractor for this prestigious development,” stated Ihsan Al-Zaidi, Projects Manager, CPC. “Our focus is on delivering exceptional standards of construction that match the project’s ambition and the vision of Major Developers.”
Manta Bay is set to establish a new benchmark for luxury living in Ras Al Khaimah, offering a blend of contemporary design, state-of-the-art amenities, and a unique location on Al Marjan Island. Featuring panoramic sea views, private beach access, and a state-of-the-art wellness center, Manta Bay aims to become a landmark destination for high-end residential living.
The groundbreaking ceremony showcased the project’s innovative design and strategic significance, aligning with Ras Al Khaimah’s broader growth objectives and catering to the rising demand for exclusive, high-quality properties in the emirate.
As Ras Al Khaimah solidifies its position as a leading real estate hub, Manta Bay is set to attract high-net-worth investors and discerning buyers, reinforcing the emirate’s status as a dynamic and thriving centre for luxury living.
About Major Developers
Major Developers is a UAE-based real estate company specializing in delivering luxury living experiences across prime locations. Known for their commitment to quality, innovation, and sustainability, Major Developers create bespoke residential communities that redefine modern living dedicated to enhancing lifestyles through architectural excellence and cutting-edge amenities. Major Developers’ projects are designed to offer a perfect blend of comfort, functionality, and elegance, catering to the evolving needs of discerning homeowners and investors.
For more information, pls visit https://majordevelopers.com/
About Marjan
Marjan is the master-developer of freehold property in Ras Al Khaimah, responsible for path-breaking developments such as Al Marjan Island aimed at positioning Ras Al Khaimah as one of the region’s leading tourism and investment destinations. Mandated with developing waterfront, urban and mountain destinations that will add to the competitiveness of the Emirate, Marjan’s strategic master-planning approach is to leverage Ras Al Khaimah’s natural assets and lay the foundations of the Emirate’s future expansions. Through its world-class master-planned communities in Ras Al Khaimah, Marjan attracts foreign investment as well as international visitors and positions the Emirate as a strong investment and tourism hub.
