RAK Properties PJSC and Ellington Properties have signed an agreement to develop a premium residential beachfront project located in a prime location on Hayat Island, in Mina Al Arab. The partnership marks Ellington Properties' entry into the emirate. With direct beach access, the first joint residential apartment project will bring a new perspective to exclusive waterfront living.

Comprising multi-family apartments, the project will reflect Ellington Properties' design-led approach, with exceptional features including high-end restaurants at ground level and resort-style amenities, providing the highest quality lifestyle. The partnership with Ellington Properties forms an important part of RAK Properties' strategy to form partnerships with top-tier local and international investors to capitalise on the rising demand for quality real estate in the Emirate. It also supports its ambitions to add scale across its core development assets.

The development forms part of RAK Properties' broader master plan for Hayat Island, offering luxurious shopping, dining and entertainment facilities alongside Angel Bay, a unique outdoor leisure destination that is the first of its kind in Ras Al Khaimah. Angel Bay is set to become the focal element of Hayat Island as it sets the scene for clubs, restaurants, activities and entertainment.