2 luxury apartments in RAK sells for Dhs180 million

Gulf Today, Staff Reporter

The UAE-based real estate development company, The Lux Developers, announced on Monday the sale of the two luxury apartments "The Celeste" and "The Stellar" of the Sky Villas type in the "Oceano" residential project located on Al Marjan Island in Ras Al Khaimah.

The company pointed out that the two apartments were sold for Dhs90 million each, affirming the increasing demand for luxury properties, which reflects the increase in the number of high-net-worth individuals moving to Ras Al Khaimah.

Abdullah Al Abdouli, CEO of Al Marjan, the main developer of freehold properties in RAK, said: "The sale of these two luxury properties affirms the growing attractiveness of Al Marjan Island as a developed destination which provides a lifestyle that matches global standards.

He added that they have been the focus of high-net-worth individuals around the world who are seeking to establish a home in one of the most strategic and beautiful neighbourhoods in the region, with a variety of facilities, amenities, and luxurious entertainment.

Shubham Agarwal, Chairman and Co-owner of The Lux Developers, said: "Our strategic decision to establish such luxurious properties was in line with our research which proved the strong demand for luxurious real estate in RAK."