Danah Bay project, luxury resort to boost RAK tourism

DUBAI: Dubai Investments, an investment company listed on the Dubai Financial Market (DFM), has launched a Dhs1 billion Danah Bay project, a mixed-use beachfront destination on Al Marjan Island, Ras Al Khaimah.

Spanning approximately 90,000 square meters, the project includes luxury townhouses and villas, residential waterfront apartments, an upper scale 4-star hotel resort and community retail.

“This region offers tremendous potential for the residential, hospitality and the tourism industry and ater careful evaluation and in line with the market trends, we have announced this integrated beach community in Ras Al Khaimah, that will capitalise on the lucrative opportunities of the emirate, creating a benchmark in mixed-use development and providing a long-term value to the economy. Benefiting from the Group’s resilient business model, supporting diversification through unique investments, Danah Bay is a step forward in strengthening the Group’s real estate porfolio and expanding presence regionally,” said Khalid Bin Kalb an, vice chairman and ceo, dubai investments.

Danah Bay offers a variety of freehold residential options including two-bedroom townhouses with roof terrace, three-bedroom villas and fourbedroom beachfront villas along with waterfront residential apartments.

Separately, Abu Dhabi National Hotels (ADNH), a listed company at Abu Dhabi Securities Exchange operating hotels, catering, tours and transportation, has acquired a prime plot on Al Marjan Island to develop a Dhs1 billion luxury Resort with 1,000 rooms, spread over 1 million square feet overlooking the Arabian Gulf.

The investment highlights the appeal of al mar jan Island as one of the top tourist destinations in the UAE with several global hotel operators already having made significant investments.

Abdulla Al Abdooli, CEO of Marjan, said, “Ras Al Khaimah’s strength is its fully diversified economy with the leadership focused on promoting trade, tourism, hospitality, and manufacturing. Over the years, the Emirate has strengthened its reputation as an investment, hospitality, and tourism hub, atracting high-profile investments and featuring world-class assets. Marjan continues to establish high-end projects in the hospitality, leisure and sports sectors to support the destination strategy of the Emirate. The investment by ADNH to develop a luxury resort in Al Marjan Island reflects its confidence in the potential of the destination and will catalyse additional investments.”

Sheikh Ahmed Aldhaheri, Vice-chairman and Managing Director of ADNH, noted, “This is an exciting opportunity to expand and position into other Emirates. Our strong believe in the potential, economy and leadership of the UAE were the main catalyst of this investment.”