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Tue 8 Oct 2013 04:37 PM

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RAK Properties launches new $108m projects

Flamingo Villas, Lagoon Heights will be part of developer's huge Mina Al Arab development

RAK Properties launches new $108m projects
(Photo for illustrative purposes only)

RAK Properties on Tuesday announced the expansion of its Mina Al Arab development by unveiling two new flagship projects.

The projects offer 104 waterfront villas and two 20-storey building overlooking the Gulf and the Mina Al Arab Lagoon with an investment of approximately AED400m ($108m).

The developer said in a statement that Flamingo Villas, which enjoys a sea view, will include separate swimming pools for adults and kids, children’s play area with different play equipment, a multipurpose court and green turf areas.

Mohamed Sultan Al Qadi, managing director and CEO of RAK Properties, said: “This will boost further RAK Properties’ frontline position in real estate development not only in Northern Emirates but also in the Gulf. The projects will follow the same high quality standards seen in our earlier projects.”

The second project, called Lagoon Heights, features two 20-storey mixed use buildings available for freehold.

“The units in ‘Lagoon Heights’ include one, two, and three bedroom apartments as well as studios and garden apartments. Residents of each unit will be able to enjoy unobstructed water views, irrespective of the direction of the unit,” Al Qadi added.

“These projects represent a new milestone in the company’s history and will be completely self-contained, creating their own identity, enriching the project portfolio of RAK Properties,” he said.

The Mina Al Arab development, which was launched in May 2006 and is spread over 30 million square feet, will have six different districts all with different themes ranging from Arabic to South Pacific, Moorish and Venetian.

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