Model Units of Bab Al Bahr Property Development In Ras Al Khaimah are Completed

The model apartments of Bab Al Bahr in Ras Al Khaimah have been completed by Rakeen. Rakeen is one of the most trusted and dynamic property developers in Ras Al Khaimah and has completed this value added offering giving clients a preview of the actual property. It includes layout, amenities, ambience and other actual features which are expected to be in your dream home. These property units feature 1 and 2 bedroom units and are equipped with the same state-of-art facilities of the apartments built overlooking the coastline of the Arabian Gulf. These model units are ideally located along the main road just before the entrance to Al Marjan Island.

These residential units give a realistic forecast of the views of the residences. The Commercial Director of Rakeen, Jeremy Savory said: “Bab Al Bahr is Rakeen's first end-user development, which has been designed to redefine living in Ras Al Khaimah real estate and to add value to the emirate's community. With its exclusive beachfront location and stunning views, Bab Al Bahr is a residential development conducive to relaxation that will serve as a new landmark in the emirate. While awaiting the highly anticipated handover during the second half of 2010, we are inviting residents and interested buyers to visit the model units, which we believe will help them generate unique ideas for the physical arrangements and additional furnishings they want to include in their residences.”

Rakeen has invited interested buyers and other property investors to visit this new construction so that they can have a look at these newly revamped model units. This gives a clear view of the properties which are there in Bab Al Bahr. These properties are designed with the emirate’s goal of becoming a great lifestyle oriented residential destination. Bab Al Bahr is the first end user development created by Rakeen.

New Property Regulatory Authority Has Been Introduced In Ras Al Khaimah

The implementation of the escrow accounts law will be overseen by the Ras Al Khaimah Investment Authority (RAKIA). This will be done for all freehold development projects. This regulatory authority is similar to the one operating in Dubai and this new watchdog monitors the developments. There are several property developers who have already registered their projects with RAKIA. Moreover, the developers whose projects design concept gets approved can only register their project with the authority, which then allows them to open the escrow account with which they can start selling of their properties. Moreover, the RERA and RAKIA will send out a team of engineers in order to inspect the construction of the projects.

Yahia Kambris, the General Manager said: “The escrow account has been implemented to prevent mishandling of construction funds and ensure that investors' money is spent according to the master plan of the project.” He further added “The establishment of the new real estate watchdog is an important step in our efforts to safeguard and protect the interest of investors and reinforce the reputation of Ras Al Khaimah as an attractive and practical investment destination in the region.” There are developers which have already registered with RERA and RAKIA. These include: Blue Mirage real estate developer Pure Real Estate, Manazil Real Estate developing Marbella Bay, Select Group, Stallion Properties and many more.

Developer of the Quay, Yes Properties is currently involved in completing the registration process which will soon lead to opening of an escrow account. There are several banks which have also signed agreements with RERA to offer escrow accounts. Some of the banks which have signed agreements include Commercial Bank of Dubai, Bank of Baroda, Dubai Islamic Bank and Badr Al Islami-Mashreq. Thus, a new layer of protection is being made to real estate investors in the emirate.

Piling And Foundation Work Gets Completed At Marbella Bay In Ras Al Khaimah

A Qatar based real estate developer Manazil real estate has announced that the foundation and piling work for Marbella Bay in Ras Al Khaimah has been completed. Marbella Bay is a luxury resort development that is being made on Al Marjan Island and will soon be a part of Ras Al Khaimah real estate. Al Marjan Island itself is first of its kind man-made island in the emirate. The combined value of this property unit project is Dh400 million. RAKIA is the government body which is responsible for the socioeconomic growth of the emirates and its developments.

Manazil revealed that it has also coordinated with Ras Al Khaimah Investment Authority for the smooth development of this project. Safe development and on-time delivery of properties to the customers is very important for that matter. The CEO of Manazil Real Estate, Eng. Abdul Mohsen Al Hammadi said: “We have achieved great progress in the construction work of Marbella Bay as RAKIA has provided critical strategic support that has contributed significantly to the healthy pace of development. We are very optimistic of the excellent prospects of this project as Marbella Bay is poised to emerge as one of the most exciting island-inspired residential destinations in the region."

This Marbella property is designed to be one of the finest resorts in the UAE consisting of 430 commercial as well as residential units on 7 floors along with a ground floor. 2 floors of the development are dedicated for car parking. The resort comprises of luxury waterfront apartments and various leisure facilities within a well developed landscaped community. Moreover, the community is inspired by the architectural style of historic Spanish region of Andalusia. The total area of the project is around 500,000 sq ft. Out of this overall area only 60 percent of the project has been used for the development of buildings, rest the entire space is dedicated to lakes, swimming pools and communal parks thereby, making it an ideal luxury project.

Rakeen to Commence Infrastructure Work on Al Marjan Island Property in RAK

Rakeen is one of the most dynamic property developers in Ras Al Khaimah which has instigated phase two of the infrastructure work on Al Marjan Island property. The phase two of the project will get started in August this year. Al Marjan is a man made island in Ras Al Khaimah. Rakeen further revealed that this phase two of the infrastructural work will be completed in 18 months, thereby, covering Island 3 and 4 of Al Marjan. The costing of the project will come out to be Dhs365 million.

The infrastructure work of phase two will include various facilities for drainage, telecommunications, channel crossings, landscaping, electricity, street lightning and fire fighting installations as well. The Infrastructure Manager of Rakeen, Dr.Fawzi Shadid said: “It is our top priority to fast-track the completion of infrastructure work as various projects that are being built on Al Marjan are dependant on the infrastructure facilities. With Phase One of the infrastructure work progressing well on schedule, we are now fully prepared to commence work on the second phase after we identified the Contractor for the job.”

The Director of Development of Rakeen, Herbert Krause said: “This project means a lot to everyone at Rakeen and in Ras Al Khaimah, as it is pioneering in so many ways: building technology, environment and marine ecology, tourism and hospitality, residential exclusivity, leisure and sports facilities, and also because it enhances the skyline and the international image of the emirate.” This pioneering development project extends the coastline of the emirate by an additional 21 kilometers. This master development is expected to be completed in June 2010 at the cost of Dhs366 million.

Rakeen’s Bab Al Bahr- Residential Development Reaches Its Two Storey Construction

Bab Al Bahr is the iconic development in Al Marjan Island. This island is the first man-made island in the emirate of Ras Al Khaimah. One of the master real estate developers of the region, Rakeen has announced, the residential development in Bab Al Bahr has reached 2 storey construction. This entire development is valued at Dh 1 billion. Rakeen has assured a smooth flow of construction on the site and would be able to deliver its first residential unit by mid-2010.

Herbert Krause, Director of Development, Rakeen said: "On-site progress of the Bab Al Bahr project is ongoing as scheduled. Rakeen is working closely with all the consultants and the construction teams to ensure timely completion and handover as all of us are aware of the importance of this signature project of Al Marjan Island." "Moreover, in these times of global economic challenges, the proper handling of this project will send out the right message to investors and the public and boost their confidence in the strength and resiliency of the Emirate and the strategic leadership of H.H. Sheikh Saud bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah. We also warmly welcome investors and the public to contact our offices for further information or visit the site and personally witness the construction progress," added Krause.

Bab Al Bahr offers a huge range of residential unit which includes 136 studio apartments, 104 three bedroom apartments, 236 two bedroom apartments and 356 one bedroom apartments. These apartments offer panoramic sea view and overlook some private beaches. In addition this property in Ras Al Khaimah hosts several facilities like underground parking, children’s play area, state-of-the-art gymnasium and several more. Bab Al Bahr forms an integral part of this island. It servers as a gateway to this integrated community.

RAK Ceramics Keeps Tab on New Concepts and Ideas At Cityscape Middle East Real Estate Awards

The world’s largest ceramic manufacturer, RAK Ceramics and Laticrete, the joint venture partner have declared they would be the sponsors for the Cityscape Middle East Real Estate Awards. The industry leaders would come together at the Abu Dhabi National Exhibition Centre (ADNEC), at these awards which would be held from 19 April to 22 April 2009. The awards would give recognition to the extraordinary developments and achievements made by the MENA’s real estate sector. These awards would be categorized on the basis of Architecture and Development. The entries to this award would be judged on the basis of contribution to invention and imagination, world architecture culture, the planet, respect for people, context and environmental awareness in the MENA region.

Dr. Khater Massaad, CEO, RAK Ceramics said: "RAK Ceramics' sponsorship of the Cityscape Middle East Real Estate Awards reaffirms our company's commitment to help promote and cultivate quality and creativity. With such a diverse participation, we are confident that the Awards will be able to discover fresh ideas and new concepts that will help the real estate sector become ever more exciting in the future. Furthermore, it is also a privilege for us to contribute to the success of a key segment of Cityscape Abu Dhabi, which is one of the premier industry events in the region."

RAK Ceramics is a $700 million company which supplies its products to over 135 countries. These products are targeted towards project developers, architects and retail customers. However, RAK Ceramics’ joint venture partner, Laticrete is the global manufacturer and marketer of installation systems for stone and ceramic tiles.