Abu Dhabi – Mubasher: RAK Properties announced its masterplan Mina, the focus of a AED 5 billion gross development value (GDV) pipeline for 2025, according to a press release.
Mina is set across a land area of 4 million square metres, including three districts: Raha Island, Hayat Island, and Lagoons.
The first new project to be launched within Mina in 2025 is Mirasol, located on Raha Island.
Sameh Muhtadi, CEO of RAK Properties said: “The launch of Mirasol is a key component of our AED 5 billion 2025 residential development launch pipeline. Combining this with our plans to create new amenities within Mina – the yacht club, wharf, marina boulevard, and multiple beach clubs – our transformation agenda is clear for everyone to see.”
The development scheme features a range of studios, apartments, and duplexes. It is scheduled for delivery in the first half (H1) of 2028.
Mirasol is the first project to be launched by RAK Properties as part of its 2025 development launch pipeline.
The construction phase is progressing rapidly across all active projects, with one of the company’s most active handover periods expected this year.
In the first nine months (9M) of 2024, RAK Properties generated 30% year-on-year (YoY) higher revenues at AED 891.32 million.
