Dubai Investments breaks ground for new project
- 29 Apr 2024
Dubai Investments (DI), the leading investment company listed on the Dubai Financial Market (DFM), has announced setting a new milestone as it breaks ground for the residential and hotel towers on Danah Bay, Al Marjan Island, Ras Al Khaimah. The momentous occasion marks a significant step forward in the ongoing development of the prestigious coastal enclave.
The Dhs1 billion project spans an area of approximately 90,000sqm with 40,000sqm of beaches and comprises 189 villas. The Danah Bay Residential Tower, soaring 89 meters high, will offer 143 units comprising one to four-bedroom apartments and luxurious penthouses. With its distinctive wavy, glazed façade and breathtaking sea views, the tower promises residents a sanctuary of tranquility, complemented by direct beach access and proximity to the upscale Grand Millennium resort.
The 4-star Grand Millennium resort, with 300 rooms, will redefine hospitality standards with its diverse amenities, including meeting rooms, restaurants, a pristine beach area, exclusive beach club, rejuvenating spa, and state-of-the-art fitness facilities.
“We have commenced the enabling works for the residential and the hotel tower at Danah Bay, Al Marjan Island and this ground-breaking ceremony today, signifies the formal start of construction activities on-site. Breaking ground on the Danah Bay residential tower and the hotel marks another development within the project, setting new benchmarks in urban development. The Group’s vision of bringing luxury residential spaces within a mixed-use destination is tied with Dubai Investments’ confidence in Ras Al Khaimah as an up-and-coming destination to live, play, and explore - all in one.
The emirate shows immense potential and Danah Bay on Al Marjan Island will play a pivotal role in transforming it into a highly sought-after beach community and retreat,” says Obaid Salami, General Manager of Dubai Investment Real Estate, the developer of the project and the real estate arm of Dubai Investments.
Danah Bay’s construction journey commenced in 2023, establishing itself as a sought-after luxury lifestyle destination attracting the interest of both local and international investors. The project’s Phase 1 includes the 2- bedroom townhouses, 3-bedroom, 3+ bedroom and the 4-bedroom villas and the construction of the Phase 1 is progressing steadily and is getting ready for handover in Q1 2025.