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RAK Properties continues to drive new project activity in Ras Al Khaimah, with residential and hospitality options. Image Credit: Supplied

Dubai: The master-developer RAK Properties is ready with a 23-storey residential building on Reem Island in Abu Dhabi. The property features 266 apartments and come at a time when there is sufficient demand for new residential options in the city.

"Our goal with ‘Julphar Residence’ was to create a living experience in the heart of Abu Dhabi that offers residents the opportunity to enjoy a great location as well," said Sameh Al Muhtadi, CEO of RAK Properties.

In its home market of Ras Al Khaimah, the developer has been completing and launching new projects. To date, the developer’s portfolio includes 3,000 residential units, 35,000 square metres of office space, and 25,000 square metres of retail.

Ras Al Khaimah’s real estate space has recorded significant inward investor interest. In addition, there are also commitments made by Aldar, which bought existing resorts and a mall, and from Dubai Investments, which is developing a resort.