A landmark development worth AED 1 billion by Dubai Investments has just been unveiled in Ras Al Khaima. The development seeks to meet the rising demand for luxury homes in the UAE.
To take advantage of the growth potential in the area, Dubai Investments unveiled Danah Bay. Danah Bay is a 90,000 meters squared beachside community and leisure attraction on Al Marjan Island. The project will include an impressive 40,000 square meters of beaches.
ATTRACTIVE FACILITIES AVAILABLE AT DANAH BAY
Residential waterfront apartments and high-end townhouses and villas are included in the project. But also included is a luxury 4-star hotel resort and a community shopping center. The hotel will include 300 rooms, serviced apartments, and a beach resort.
Construction is anticipated to commence by the end of the year, Phase 1 of the project is then scheduled for completion by the very end of 2024.
Stunning views at the onset of dawn across the Arabian Gulf, and the vast Ras Al Khaimah skyline position property in Danah Bay as an attractive investment. Equally, the project is designed to facilitate wellbeing, act as an aesthetic development, and provide investors with profitable investment returns. So, the freehold project is ultimately well suited as a holiday home, but equally as an investment property or primary residence.
DANAH BAY’S PRIME LOCATION
Danah Bay will further benefit from Ras Al Khaimah’s alluring residency requirements, the emirate’s rising economy, ad the favorable real estate market in Dubai. Not only that, but the development is in a well-connected location. Danah Bay is 30 minutes from Ras Al Khaimah Airport, and 30 minutes from Ras Al Khaimah City Centre. But it is also only 50 minutes from Dubai International Airport, and 60 minutes from Downtown Dubai.
BACKGROUND ON DUBAI INVESTMENTS
One of the biggest investment firms in the United Arab Emirates, Dubai Investments was founded in 1995 and is listed on the DFM.
The company's varied portfolio is made up of 34 completely and partially owned businesses that operate in major industries. These include real estate, construction and contracting, building materials, education, healthcare, financial services, and many others.
At present Dubai Investments is seeking to develop more standout projects in Dubai. They are currently trying to purchase more land in Dubai as current talks with the Ras Al Khaimah government commence. The company's core focus now is on the Danah Bay project, yet they continue to monitor sentiment within the local market for new opportunities.
There is strong evidence to suggest that Dubai’s real estate market is well positioned to tackle a global recession and that its residential market is continuing to flourish. Yet growth is slowing in Dubai’s real estate market with the rise in borrowing costs. So, this is something that not only Dubai investments but also developers and players in MENA’s real estate industry as a whole need to be aware of.