ALDAR set to develop its first residential community in Ras Al Khaimah with acquisition of beachfront plot

ALDAR set to develop its first residential community in Ras Al Khaimah with acquisition of beachfront plot

- The deal ramps up Aldar’s expansion and growth strategy in Ras Al Khaimah following the recent acquisitions of Al Hamra Mall, Rixos Bab Al Bahr and DoubleTree by Hilton Resort & Spa Marjan Island

Abu Dhabi – Aldar Properties PJSC (“Aldar”) has today announced that is has acquired a prime beachfront plot of over 40,000 square metres located on Al Marjan Island in Ras Al Khaimah. The land was bought from Marjan, master developer or freehold properties in Ras Al Khaimah, and paves the way for a unique residential development on the island.

Aldar intends to combine the plot acquired from Marjan with existing land purchased as part of the DoubleTree by Hilton Resort & Spa Marjan Island acquisition earlier this year to develop a mixed-use residential community overlooking the Arabian Sea. Set to launch in 2023, the development will become Aldar’s first residential community in Ras Al Khaimah with a mix of over 2,000 branded and premium residences with access to retail spaces, a beach club, and two kilometres of private beach.

Commenting on the acquisition, Talal Al Dhiyebi, Group Chief Executive Officer at Aldar Properties, said: “Ras Al Khaimah continues to represent an attractive market for Aldar, driven by the