Real Estate

The Real Estate business unit conducts feasibility and market studies for RAKIA’s real estate sector projects. It also provides advisory services in relation to the establishment and financial structuring of real estate companies in Ras Al Khaimah along with services related to the master planning and the sales of RAKIA’s projects.

The flagship project is Al Marjan Island which is the first manmade Island project developed in Ras Al Khaimah located 27 Kilometers southwest of Ras al Khaimah City Centre. The Government of Ras Al Khaimah has given the rights of development of this Island to RAKIA. Al Marjan Island development consists of 4 Islands in addition to a peninsula with varied sizes. The development extends linearly some 4 km into the sea and with approximately 3 Km along the coast of Ras Al Khaimah. Concept of Al Marjan Island is aimed at maximizing the water frontage by a number of unique shaped Islands. About 90% of the total developed area shall be saleable and the balance 8 to 10% is reserved for public spaces, roads, utilities and parks.

The Peninsula and Island 1 forms the hospitality gateway to the development where commercial and community development is the predominant usage. Island 2 is residential in nature. This is a serene island that intends to provide its residents with a tranquil quality of life with large emphasis on pedestrian walkways.

Island 3 is geared towards entertainments, sports and commercial facilities. This is the vibrant component of the development and is characterized with what has become known as the Bahraini Iceberg Development. It constitutes with a snow dome, amphitheatre, beach chalets, marina and a surf pool/water play with numerous restaurants café and leisure activities.

Finally Island 4 provides intensive hotel and resort development.