Abu Dhabi’s Aldar plans upscale residential community in Ras Al Khaimah with 2,000 homes

Abu Dhabi’s Aldar plans upscale residential community in Ras Al Khaimah with 2,000 homes

Dubai: Abu Dhabi's Aldar Properties is continuing its investment spree in Ras Al Khaimah, this time through a prime beachfront plot of 40,000 square metres plus on Al Marjan Island. Earlier, the former had bought two upscale resorts in the northern emirate. The land was bought from Marjan, the RAK master-developer, and 'paves the way for a unique residential development' on Al Marjan Island. In fact, Aldar plans to combine the plot acquired from Marjan with existing land that came as part of its buy of DoubleTree by Hilton Resort & Spa Marjan Island earlier this year to develop a mixed-use residential community. Set to launch in 2023, the new project will be Aldar’s first residential community in Ras Al Khaimah. There will be over 2,000 branded premium residences with access to retail spaces, a beach club, and 2 kilometres of private beach. Talal Al Dhiyebi, Group CEO at Aldar Properties, said: “Ras Al Khaimah continues to represent an attractive market for Aldar, driven by the Emirate’s demographics, strong market fundamentals and dynamics. Its appeal as an investment and living destination continues to grow, benefiting from the return of leisure travel and the continued efforts and execution of the emirate’s