Property in Dubai
Know about the Property in Ras Al Khaima
Property in Ras Al Khaima has seen some tremendous growth in recent times. One of the first projects by the Ras Al Khaimah's government run company RAK Properties is Julfar Towers.
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Julfar Towers is a residential and commercial freehold development project. Being developed at a cost of US$ 109 million, Julfar Towers will comprise of two 40-storey towers, one for residential use and the other for commercial use. The residential tower will contain 349 apartments that will range from studios to 4 bedroom deluxe flats and a limited number of exclusive duplexes.
The commercial tower will have 469 office units of varying sizes. The twin towers will be constructed over a three level podium that will provide retail and food outlets. Additional benefits will come in the form of an advanced business center, parking area to accommodate 1500 cars, a fitness center, and a kindergarten school. The view from Julfar Towers will be of the creek, mangroves and mountains and the location is within minutes of Manar Mall, beaches, and the golf club.
Another facet of the serious development of property in Ras Al Khaima can be witnessed in through the plans that indicate the tripling in the number of hotels for rapid expansion of the tourism sector. As many as twenty-five new hotels are expected to come up in Ras Al Khaima very soon.
Ever since the Emirates government started to focus strongly on tourism and service industries to veer its economy away from oil dependence the tourism sector in Ras Al Khaima has literally exploded.
One of the leading hotel brands that will soon be arriving in Ras Al Khaima is the Banyan Tree Hotels & Resorts. The hotel group is planning to set up a luxury resort in Ras Al Khaima.
Another RAK Properties endeavor is the AED 10 billion-mega lifestyle project called Mina Al Arab. It will feature many themed resort hotels and two eco-hotels. Together these are expected to provide 3500 rooms for tourists and visitors to the Emirate.
The Saraya Islands project is expected to cost US$ 1.5 billion and will begin in October 2006 in Ras Al Khaima. This project will result in the addition of about four five-star hotels and leisure facilities for the tourists to enjoy. The Saraya Project is a joint effort of Ras Al Khaima government, Saraya Holdings, and Arab Bank.
Al Hamra Palace, another hotel have 450 rooms and has been designed by Maurizio Papiri. The hotel mixes the splendor and opulence of traditional Arabic architecture with the sophistication of modern day needs. Built on a ground area of 15000 square meters with total built area of 130,000 square meters, it will have 22 floors and a height of 116 meters.