Anantara Mina Al Arab on target for late 2019 opening, says RAK Properties

Brand View: RAK Properties posted profits of over $52m in 2017
Anantara Mina Al Arab on target for late 2019 opening, says RAK Properties
RAK Properties' CEO and Managing Director Mohammed Al Qadi
Wed 28 Mar 2018 11:25 AM

Work on the UAE’s first ‘Maldivian’ inspired overwater villa complex in Ras Al Khaimah is in progress and will open in late 2019, according to RAK Properties.

The property, the 306-room Anantara Mina Al Arab Ras Al Khaimah will feature a variety of luxury rooms and suites, a health club and spa, two pools, a well-equipped gym, and several specialty restaurants.

The opening of the resort will follow the successful handover of Bermuda Villas in 2017, as well as the launch of two residential projects in Mina Al Arab, as well as another on Abu Dhabi’s Reem Island, which is under construction.

RAK Properties – Ras Al Khaimah’s largest property developer – posted a net profit of AED 192 million ($52.2 million) in 2017, a 10 percent increase from 2016’s AED 175 million ($47.6 million).

This net profit, according to CEO and Managing Director Mohammed Al Qadi, will give the company “balanced financial leverage to support our ongoing projects and launch new projects.”

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