Abu Dhabi – Mubasher: The UAE-based RAK Properties has unveiled the luxurious Marbella Villas at its Hayat Island project in Ras Al Khaimah.
Marbella Villas features 205 beachfront villas and townhouses, the real estate firm said in a statement.
Earlier this month, RAK announced it was looking to expand in Hayat Island by establishing recreational facilities.
It was noted that the recreational facilities would be designed in collaboration with the international British company RMJM.
The projects are forecast to attract a large number of tourists, RAK Properties noted, giving no further details on their value and timeframe.
In the first half of 2018, RAK Properties reported a profit drop, logging AED 29 million, compared to AED 62 million during H1-17.
The Emirati real estate developer’s profit fell to AED 4.33 million in Q2-18, compared to AED 21.8 million in the corresponding quarter last year.
