Ras Al Khaimah Real Estate Market Sees 15% Increase in H1 2024
Major Developers has officially hosted the groundbreaking event on its latest luxury development, Manta Bay, within the revolutionary real estate project in Ras Al Khaimah. The groundbreaking event took place on September 19, 2024, at Al Marjan Island, commemorating a moment of pure importance for the company as it further ignites growth and cements its position in the high-end real estate segment of the emirate.
The groundbreaking ceremony was also attended by influential stakeholders, including Marjan representatives, the leading developer of freehold properties in Ras Al Khaimah, along with Federal Engineering Consultants, and Civil Power General Contracting LLC – CPC, which will be handling the enabling works. This AED 1 billion development of Manta Bay will further strengthen Ras Al Khaimah’s positioning as a regional and international luxury destination.
The event comes in conjunction with the strong growth period in Ras Al Khaimah’s real estate market during the first half of 2024, wherein transactions and value surged 15%. It is this budding investor confidence and burgeoning market activities that have created opportunities for Major Developers to seize new avenues.
“The launch of Manta Bay in Ras Al Khaimah fully aligns with our vision to lead the luxury segment of the real estate market. It shows our commitment to bringing premium living to a market full of potential,” commented Andrei Charapenak, CEO of Major Developers.
Manta Bay Marks a Milestone in Ras Al Khaimah Growth
Arch. Abdulla Al Abdouli, Chief Executive Officer of Marjan, emphasized how privileged a location Manta Bay has been accorded: “Al Marjan Island offers the ideal environment for a project of this scale. We are delighted to enable visionary projects such as Manta Bay, which further boost the attractiveness of our waterfront and lure quality investors to the beautiful emirate of Ras Al Khaimah.”
The founder of Federal Engineering, Consultants, Dr. Walid Lutfy, underscored that the firm will ensure the project stands out in quality and ingenuity. “Our responsibility as engineering consultants is to make sure that Manta Bay sets a new standard for luxury real estate in Ras Al Khaimah.”
Ihsan Al-Zaidi, Projects Manager at CPC added, “We are proud to be a contributor to developing such a prestigious project. Our aim is to maintain the highest level of construction that fits into the vision of Major Developers.”
A Booming Real Estate Market Propels the Manta Bay Vision
Manta Bay will establish new standards in luxurious living, fusing ultra-modern architectural design with the latest facilities. Situated on the dreamy Al Marjan Island, it offers panoramic sea views, private beach access, and a state-of-the-art wellness center-one that is sure to be envied by high-end residents.
It was a celebration of the innovative design and strategic contribution the project had made to broader growth goals by Ras Al Khaimah. Manta Bay meets the growing demand for exclusive, high-quality residences within the Emirate, strengthening its position as a high-end destination.
With Ras Al Khaimah getting hotter by the day as a real estate investment destination, Manta Bay is expected to draw in prospective investors with deep pockets, sealing the emirate’s deal as a luxury real estate hub.