RAK Properties, Ras Al Khaimah’s biggest property developer, is set to release phase 2 of its Bermuda Villas development as part of its flagship Mina Al Arab waterfront community.
Bermuda Villas was launched in 2014 and is set for completion by late 2016, the company said in a statement.
The residential complex will span 157 two- to six-bedroom villas and townhouses and will also feature a private beach, separate swimming pools for women, men and children and a children’s.
Mohamed Sultan Al Qadi, managing director and CEO, RAK Properties, said: “The first batch of Bermuda Villas was warmly welcomed by investors. The development complements Ras Al Khaimah’s focus on promoting its rich natural environment as well as enhancing its touristic and investment appeal.”
“We invite investors and home seekers to explore what Bermuda Villas has to offer, particularly its emphasis on style, space and nature.”
RAK Properties in February announced that its revenues grew by 23.5 percent in 2015.
RAK Properties posted a 2.8 percent increase in net profit to AED160 million last year, topping 2014’s AED155.7 million.