Developer is fully committed to timely project completion .
RAK Properties PJSC, Ras Al Khaimah’s (RAK) biggest property developer, has announced that it has commenced the handover of Phase 1 of its Flamingo Villas community. The first of 124 villas was handed over nearly three months ahead of schedule was delivered to Mr. Valeriy Startsev and his Family.
Flamingo Villas is a landmark development of villas overlooking the Arabian Gulf and adjacent mangrove wetlands. The units enjoy scenic sea views of Ras Al Khaimah’s. The community is complemented by various leisure and lifestyle amenities such as children’s play areas, swimming pools, sports and recreational facilities. Phase 1 of the development was originally scheduled for completion by the end of 2015, while its ongoing second phase of 68 units will be finished within a year’s time.
Mohammed Sultan Al Qadi, Managing Director and CEO, RAK Properties PJSC, said: “RAK Properties is excited over this initial rollout which reflects our full commitment to timely and advanced delivery of our developments. We welcome the new owners and residents of Flamingo Villas to our Mina Al Arab family.”
Flamingo Villas forms part of RAK Properties’ eco-themed ‘Mina Al Arab’ mixed-use waterfront community. Spread over 43 million sq. ft and being built at a cost of AED 10 billion, Mina Al Arab will feature residential and hospitality elements that highlight Ras Al Khaimah’s natural beauty as well as colorful heritage.
RAK Properties, a Public Joint Stock Company listed on the Abu Dhabi Securities Market, is a real estate development company established to implement the emirate’s plans to promote real estate, tourism and leisure facilities in RAK and invest in interesting projects. It is intended that its activities will encourage economic growth in the UAE in general and Ras Al Khaimah in particular. The company launched its first project, Julfar Towers – a 45-storied twin office and residential project at a cost of AED 500 million – in February 2006 followed by Mina Al Arab – spread over 43 million sq. feet at a cost of AED 10 Billion – in May 2006. It also launched RAK Tower in Abu Dhabi at Cityscape Dubai.