Abu Dhabi’s Aldar acquires prime beachfront plot in Ras Al Khaimah

Abu Dhabi’s Aldar acquires prime beachfront plot in Ras Al Khaimah

Abu Dhabi-based property development company, Aldar Properties has acquired a prime beachfront plot of over 40,000 square meters located on Al Marjan Island in Ras Al Khaimah.

The company said in a statement that the land was bought from Marjan, the master developer of freehold properties in Ras Al Khaimah, and paves the way for 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.

Talal Al Dhiyebi

CEO – Aldar “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 strategy to attract investment, residents, and visitors. With this new land deal and our recent acquisitions, we are excited about Aldar’s growth potential in the market.”

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