UAE – Mubasher: Headquartered-based Major Developers recently broke ground on its Manta Bay project that is worth AED 1 billion and is considered a transformative addition to Ras Al Khaimah’s luxury real estate landscape, according to a press release.
Launching this development aims to endorse growth for Ras Al Khaimah's real estate sector, which witnessed a 15% increase in transactions and value during the first half (H1) of 2024.
The project targets high-net-worth investors and discerning buyers to endorse Ras Al Khaimah’s status as a dynamic and thriving centre for luxury living in line with the emirate’s position as a real estate hub.
CEO of Major Developers, Andrei Charapenak, said: “Launching Manta Bay in Ras Al Khaimah is a strategic move that aligns with our ambition to lead in the luxury real estate sector.”
Charapenak added: “This project embodies our commitment to creating world-class living experiences in a market that holds tremendous potential.”
Manta Bay development features panoramic sea views, private beach access, and a state-of-the-art wellness centre, which serves Ras Al Khaimah’s strategy to enhance its standing as “a luxury destination globally and in the region.”
The emirate recently attracted investments from global leader in green industrialisation Statevolt, which unveiled a technology-agnostic battery cell gigafactory in Ras Al Khaimah with a $3.20 billion capital expenditure.
