KHALEEJ TIMES, Wednesday, Sep 21, 2022 | Safar 25, 1444
Dubai Investments unveils Dh1b project in Ras Al Khaimah
Dubai Investments on Tuesday announced a Dh1 billion flagship project in Ras
Al Khaimah to cater to growing demand of luxury properties in the UAE.
The leading investment company listed on the Dubai Financial Market launched a
approximately 90,000 square metres (sqm) Danah Bay, a vibrant, mixed-use
beachfront community and lifestyle destination on Al Marjan Island to capitalise
on growth opportunities in the region. Total area of beaches is estimated at
Khalid bin Kalban, vice-chairman and CEO of
Dubai Investments, said region offers tremendous potential for the
residential and hospitality sectors.
The project includes luxury townhouses and villas,
residential waterfront apartments, an upper scale 4-star hotel resort and
community retail facility. The hotel will have 300 keys, a beach resort and
The construction is expected to start by the end of
this year and its first phase will be completed by December 2024.
Khalid bin Kalban, vice-chairman and CEO of Dubai
Investments, said region offers tremendous potential for the residential and
“We have announced this integrated beach community
in Ras Al Khaimah, that will capitalise on the lucrative opportunities of the
emirate, creating a benchmark in mixed-use development and providing a long-term
value to the economy,” Kalban said at the launch event in Dubai on Tuesday.
Danah Bay is a freehold project, designed as an
ideal choice for a holiday home, a primary residence or investment property with
breathtaking views of the sunrise, the Arabian Gulf and the expansive Ras Al
Khaimah skyline. The project’s design promotes well-being, with aesthetics
completing the landscape and offering lucrative investment opportunities to the
“Benefiting from the Group’s resilient business
model, supporting diversification through unique investments, Danah Bay is a
step forward in strengthening the group’s real estate portfolio and expanding
presence regionally,” Kalban said.
Danah Bay offers a variety of freehold
residential options including stunning two-bedroom townhouses with roof
terrace, three-bedroom villas and four-bedroom beachfront villas along
with waterfront residential apartments.
Danah Bay offers a variety of freehold residential
options including stunning two-bedroom townhouses with roof terrace,
three-bedroom villas and four-bedroom beachfront villas along with waterfront
residential apartments. It also offers waterfront residential apartments from
studio to four-bedroom.
In reply to a question, Kalban said Dubai
Investments is in talks with the Ras Al Khaimah government to acquire more land
in the emirate to launch some unique developments in future.
“We see there is a demand in the market and we will
definitely launch new developments, but currently we are monitoring the mood of
the market. At present, our primary focus will remain on Danah Bay,” he said.
The Dubai Investments executives said Danah Bay is
set to benefit from Ras Al Khaimah’s attractive residency requirements,
favourable property market, and the emirates emerging economy. They said the
project is strategically located – 50 minutes from Dubai International Airport,
60 minutes from Downtown Dubai, 30 minutes from Ras Al Khaimah Airport and 30
minutes from Ras Al Khaimah City Centre.
Dubai Investments, established in 1995, is one of
the largest investment companies in the UAE and listed on DFM with a paidup
capital of Dh4.25 billion and total assets worth Dh22 billion.
The company’s diverse portfolio consists of 34
wholly and partly owned companies with a diversified portfolio of business in
key sectors such as real estate, building materials, construction and
contracting, financial services, healthcare and education, among others.