Project Launch and Market Context
With the official start of construction, Major Developers has significantly improved Ras Al Khaimah’s luxury real estate market with the Manta Bay project.
The real estate market in Ras Al Khaimah has been increasing, as seen by the 15% rise in transactions and value in the first half of 2024, which is a sign of strong investor confidence and a healthy market. This coincides with the inauguration of Manta Bay.
Executive Statements
“Launching Manta Bay in Ras Al Khaimah aligns with our ambition to lead in the luxury real estate sector. This project embodies our commitment to creating world-class living experiences in a market that holds tremendous potential,” said Andrei Charapenak, CEO of Major Developers.
“Al Marjan Island is the ideal location for an exclusive project of this magnitude,” commented Arch. Abdulla Al Abdouli, Chief Executive Officer, Marjan, the leading master developer of Al Marjan Island. “We are delighted to host innovative developments that showcase the unique appeal of our luxurious waterfront destination and attract premium investors to the picturesque emirate of Ras Al Khaimah.“
Groundbreaking Ceremony
The event, which was attended by important figures from Federal Engineering Consultants, Civil Power General Contracting LLC (CPC), the enabling contractor, and Marjan, the master developer of freehold properties in Ras Al Khaimah, showcased the Dh1 billion project as the cornerstone of Ras Al Khaimah’s strategy to improve its reputation as a luxury destination both locally and internationally.
Partner Perspectives
“Our role as the engineering consultancy for Manta Bay is to ensure that this development stands out in terms of quality and innovation,” said Dr. Walid Lutfy, Founder of Federal Engineering Consultants. “We look forward to seeing this project redefine the luxury real estate market in Ras Al Khaimah.“
“We are honored to be the enabling contractor for this prestigious development,” stated Ihsan Al-Zaidi, Projects Manager, CPC. “Our focus is on delivering exceptional standards of construction that match the project’s ambition and the vision of Major Developers.“
Project Features and Significance
Manta Bay, which combines cutting-edge amenities with modern design, is poised to raise the bar for luxury living in Ras Al Khaimah. With its expansive views of the sea, exclusive access to the beach, and cutting-edge spa facility, Manta Bay hopes to establish itself as a premier location for opulent residential living.
The project’s creative design and strategic importance were displayed at the groundbreaking event. It also matched Ras Al Khaimah’s larger expansion goals and satisfied the growing demand for upscale, exclusive real estate in the emirate.
Impact on Ras Al Khaimah’s Real Estate Sector
Manta Bay is expected to draw affluent investors and discriminating buyers as Ras Al Khaimah continues establishing itself as a premier real estate destination, enhancing the emirate’s standing as a vibrant and dynamic hub for abundant living.
