Dubai Investments, a leading investment company listed on the Dubai Financial Market, broke ground on its flagship freehold project – Danah Bay – located at the heart of the Al Marjan Island in Ras al Khaimah.
The project is being developed through its wholly-owned real estate subsidiary Dubai Investments Real Estate (DIR).
A beach community and resort-style retreat being developed at a total investment of AED1 billion ($272.2 million), Danah Bay will be setting new standards and facilitating lucrative investment options in the northern emirate, said the statement from Dubai Investments.
DIR has appointed AE Seven Morse Architecture & Engineering Consultancies Company as the consultant for design and supervision of the project.
With a design promoting well-being and the aesthetics complementing the serene landscape, Danah Bay spans an area of 86,000 sq m area with 40,000 sq m of beaches.
The project features a total of 209 villas – inclusive of two-bedroom townhouses with roof terraces; three- and four-bedroom beachfront villas and five-bedroom breakwater villas, while its residential tower boasts 128 apartments – from studios to four-bedroom penthouse apartments.
Danah Bay will also be home to a 300-key four-star upper scale hotel, which will be operated by the Millennium and Copthorne Middle East Holdings.
Located ideally within the development with a contemporary architecture and influenced by casual beach lifestyle, the property is designed to provide uninterrupted sea views, providing an ideal setting for rest and recreation, with exclusive beach access to residents and guests, stated the developer.
Speaking at the ground breaking ceremony, Vice Chairman and CEO Khalid Bin Kalban said: “This is a significant milestone for us as it reiterates our expansion into Ras Al Khaimah, with our flagship development, enhancing Dubai Investments position as a pan-UAE developer.”
“The project is designed as an ideal destination that will cater to the growing tourism requirements of the emirate and provide residential opportunities that offer a distinct lifestyle,” stated Kalban.
The ceremony was held in the presence of Sheikh Khalid bin Saud Al Qasimi, Vice Chairman of Ras Al Khaimah’s Investment and Development Office, Abdulla Al Abdouli, CEO of Marjan and Ali Bin Khalfan Al Mutawa Al Dhaheri, Founder Chairman of Ali & Sons Holding.
Al Abdouli said Danah Bay was a developmental milestone that reflected not only the dynamic UAE real estate sector but also supported the vision of Ras Al Khaimah as a key destination that empowers communities with world-class projects that meet their unique needs.
“As a master developer responsible for supporting Ras Al Khaimah’s diversification strategy and transforming the emirate into a sought-after destination for both residents and investors in varied sectors, this waterfront project builds on our commitment to deliver premium offerings to enrich the lifestyle of our diverse stakeholders,” he stated.
Kalban pointed out that there was a huge interest for projects like these in the emirate. Located 50 minutes away from Dubai International Airport and 30 minutes from Ras Al Khaimah Airport, Danah Bay is a relaxing retreat, encouraging visitor wellbeing and coupled with its elegant, urban, and modern exteriors and interiors provide comfortable, sustainable and effortless luxury, inspiring a new lifestyle.
“And with attractive residency requirements, favorable property and business ownership terms coupled with the growing community of entrepreneurs and companies, we are positive that Danah Bay is only the beginning and Dubai Investments will continue to capitalize on the lucrative opportunities that the emirate will have to offer in the coming years,” he added.
