By Gavin Gibbon
The project will include 157 2-6 bedroom units and is part of the Mina Al Arab master development
Construction work on RAK Properties’ latest upscale residential community, Bermuda Villas, will begin by the end of 2014.
The project, which is located in the company’s master development, Mina Al Arab, in Ras Al Khaimah, consists of 157 2-6 bedroom units.
There will be separate swimming pools for adults and children, a kids’ play area, multipurpose sport court and wider green turf areas.
Mohammed Sultan Al Qadi, managing director and CEO of RAK Properties, told Construction Week: “We hope construction will start by the end of this year and it will finish by the second half of 2016.”
RAK Properties, the biggest property developer on the Abu Dhabi Stock Exchange, reported profits worth AED52 million ($14.1 million) for the first half of 2014.
Al Qadi also revealed the 124-villa Flamingo Villas project, in the AED12 billion ($3.2 billion) Mina Al Arab development, which began construction three months ago, would be complete by the end of 2015.