UAE. Rakeen, one of the region's most dynamic property developers
and master planners, today announced that construction of its
international standard apartment units within Bab Al Bahr, the idyllic
resort development on Al Marjan Island, is on schedule.
Piling is already underway on the AED 1.2 billion development, while
the apartment buildings are on course to be completed in the fourth
quarter of 2009. Confirmation that construction is proceeding exactly
as planned represents an important step in the development of the Bab
Al Bahr project that will ultimately encompass the residential
buildings, a timeshare building, a hotel, an office tower and a
shopping mall, providing an exclusive lifestyle.
Dr Imad Haffar, Chief Operating Officer of Rakeen, the owner and
master developer of Bab Al Bahr, commented: "We are delighted that the
construction targets we have set for the stunning apartment buildings
on Bab Al Bahr are being met. Bab Al Bahr is a development that is
designed to offer the finest standards of living; the very embodiment
of the fresh approach that Rakeen is taking to development. By the end
of next year, residents will be able to enjoy the ocean, nature,
exquisite landscaping, fine architecture and enviable facilities in one
place.”
“Available directly from Rakeen with 100% freehold ownership, the
apartments on Bab Al Bahr exist in six buildings featuring dramatic
architecture that complements the natural beauty of the island. Open
private beachfronts, 360-degree sea views and sensitively-landscaped
surroundings add to the feeling of openness and freedom that Bab Al
Bahr aims to bring to everyday life,” indicated Wahid Attalla, CEO of
Spectrum Consultants, the client representative and project manager.
There are 710 apartments in five buildings (called Fayrouz, Marmar,
Yakout, Kahraman and Amwaj) and all are available for freehold
purchase, with an additional 120 apartments in Zumourud available for
timeshare ownership. Purchasers will find further reassurance in the
carefully selected partners working with Rakeen on Bab Al Bahr.
Spectrum Consultants will bring to the project their broad experience
of providing consulting services for multi-disciplined projects in the
region. B&G Hotels & Resorts, a leading hotel and resort
management company, will operate and manage Bab Al Bahr hotel and
timeshare apartments.
Furthermore, Asteco, a leading property management and real estate
company, will exclusively sell the units; and Union National Bank, one
of the UAE’s most renowned mortgage providers, is offering 90%
mortgages to Bab Al Bahr apartment buyers.
Dr Haffar added: “Above all, we have endeavoured to make Bab Al Bahr
sustainable. Through intelligent planning, high construction standards
and respectful treatment of natural resources, we are fully confident
that Bab Al Bahr will be a wonderful place to be, at work, at leisure,
for many years to come.”
Bab Al Bahr offers 3-, 2- and 1-bedroom apartments, together with studio apartments.
Bab Al Bahr is located where Al Marjan Island meets the mainland,
meaning that its residents can enjoy the best of both worlds: working,
resting and playing on a haven, with the convenience of being in close
proximity to all the amenities and natural splendour of Ras Al Khaimah
and the rest of the UAE.
Note: Translating as ‘central pillar’ or ‘trustworthy support’ in
Arabic, Rakeen was established in April 2006 as the land master planner
and developer responsible for the Emirate of Ras Al Khaimah’s property
development. With authorised capital of AED 4 million, Rakeen has a
number of high-profile local and international projects in progress,
including an exhibition and convention centre, offshore financial
districts and new urban developments.
Bab Al Bahr is 20 minutes from Ras Al Khaimah International Airport,
less than an hour’s drive from Dubai, and enjoys the advantage of close
proximity to three international airports: Ras Al Khaimah, Dubai and
Sharjah.
Bab Al Bahr is situated on Al Marjan Island, an ambitious AED 6.6
billion man-made island development off the beautiful coast of Ras Al
Khaimah. Located 27 kilometres Southwest of the Ras Al Khaimah town
centre, the Al Marjan Island project is a cluster of four coral-shaped
islands dotted with a variety of water homes, floating villas, hotels,
resorts, sporting facilities and commercial spaces over a total area of
2.7 million square metres. The furthest point of the beach is 4.5
kilometres out into the sea.
News 
