Rakeen unveils Dh1.2b Bab Al Bahr resort in RAK

Ras Al Khaimah: Project development company Rakeen has unveiled the Dh1.2 billion Bab Al Bahr resort in Ras Al Khaimah.

It will feature a four-star hotel, time-share apartments, freehold residential apartments, a shopping centre and an office tower.

Bab Al Bahr will be the first project to be developed by Rakeen on the master developer's four-kilometre man-made Al Marjan Island and is scheduled for completion in 2009.

"Rakeen's approach to development will transform Ras Al Khaimah into a modern and flourishing destination that can capitalise on its huge tourism and commercial potential," said Khater Massaad, Rakeen chairman.

Five residential buildings, incorporating 710 residential freehold apartments, are earmarked for construction. Apartments range from studios to three-bedroom apartments. Unit prices are still to be released.

Through arrangements with the adjacent hotel, residents will be able to join an apartment rental pool facility to rent their units.

The project will also feature a 290-room four-star hotel resort, including 120 time-share apartments, in addition to a 25-storey Bab Al Bahr retail and office tower.

High ambitions: New projects for emirate

Rakeen is a private joint stock company established in 2006 by Ras Al Khaimah to support the development of the emirate's real estate and property development sectors.

With an authorised capital of Dh3 billion, Rakeen has slated additional projects for the emirate, including an exhibition and convention centre, offshore financial districts and new urban developments.