Latest news with #RAKProperties
Zawya
26-06-2025
- Business
- Zawya
Mideast Stocks: Gulf shares up as Israel-Iran ceasefire holds, Dubai hits 17-year high
Stock markets in the Gulf closed higher on Thursday amid steady oil prices as a ceasefire between Israel and Iran appeared to be holding for a second day. Markets have been soothed by the ceasefire after 12 days of strikes on each other's territory. U.S. President Donald Trump said on Wednesday he would likely seek a commitment from Iran to end its nuclear ambitions at talks next week. Dubai's benchmark stock index extended its rally to a fifth straight session, rising 1.3% to 5,684, its highest level in 17 years. Dubai Islamic Bank climbed 4.9% and tolls operator Salik advanced 2.2%. The Abu Dhabi benchmark index rose 0.8%, aided by a 7.6% surge in RAK Properties and a 4.3% gain for Abu Dhabi Islamic Bank. Fitch Ratings affirmed the UAE's rating at "AA-" with a stable outlook on Tuesday, while S&P Global assigned the same rating last week. Saudi Arabia's benchmark stock index extended its gains to a fourth straight session, rising 0.9%, with most sectors in the green. Al Rajhi Bank, the world's largest Islamic lender, gained 0.9% and oil major Saudi Aramco added 0.7%. Elsewhere, Saudi Arabia's trade surplus fell sharply in April, even as non-oil exports surged and imports rose, according to new government data issued Wednesday. Oil prices, a catalyst for the Gulf's financial markets, rose 0.4% as a larger-than-expected draw in U.S. crude stocks signalled firm demand. Brent was trading at $67.98 a barrel by 1230 GMT. The Qatari benchmark index was up for a consecutive fifth day, rising 0.4% with almost all its constituents posting gains. AlRayan Bank advanced 1.4% and Industries Qatar added 0.5%. Qatar Investment Authority and Canadian asset manager Fiera Capital have launched a $200 million fund to boost foreign and local investment into the Gulf state's stock market, QIA said on Wednesday. "Markets are benefiting from favorable market sentiment following the easing of geopolitical risks", said Joseph Dahrieh, managing principal at Tickmill. "This has led to increased demand for stocks in the region and a greater focus on market fundamentals". SAUDI ARABIA up 0.9% to 11,068 KUWAIT Closed QATAR gains 0.4% to 10,685 EGYPT Closed BAHRAIN Closed OMAN down 0.2% to 4,507 ABU DHABI rose 0.8% to 9,886 DUBAI advanced 1.3% to 5,684 (Reporting by Md Manzer Hussain; Editing by Shailesh Kuber)
Arabian Business
18-06-2025
- Business
- Arabian Business
RAK Properties launches Solera apartment community in Downtown Mina District
RAK Properties, Ras Al Khaimah's publicly listed property developer, has announced the launch of Solera, an apartment community that will form part of the Downtown Mina district on Raha Island. The development comprises 451 units across three buildings connected by a shared podium. Solera represents the first community within RAK Properties' Downtown Mina district, which will eventually feature six residential communities upon completion. Solera: Downtown Mina debut Downtown Mina will provide access to retail and food and beverage destinations, landscaped parks, covered walkways, and community spaces as part of the wider Mina master plan. Apartments in Solera range from 386 to 3,104 square feet, with prices starting from AED768,000. The development includes a 40-metre infinity-edge lap pool, a children's pool and splash pad, and the Solera Flame Pavilion, an outdoor space with a barbecue kitchen. Additional facilities include a sculptural garden, telescope corner, hammock garden, skateboard park, and gymnasium. The NOOK, a social lounge and co-working space, will cater to remote workers and entrepreneurs. 'We are proud to launch Solera, the first chapter in the Downtown Mina story. With Solera, we are adding diversity to our product mix and creating new neighborhoods that add to Mina's overall character. As we continue to pursue the luxury segment elsewhere in our portfolio, Solera and Downtown Mina bring a whole new vibe to Ras Al Khaimah. Younger, edgier, and designed to appeal to work-from-anywhere professionals and entrepreneurs, Solera will contribute to the changing narrative around the Emirate as more and more investors see its real estate market appeal,' Sameh Muhtadi, Chief Executive Officer of RAK Properties said. 'As we reach the midpoint of our twentieth anniversary year, RAK Properties is making good progress with its 2025 product launch pipeline, a period in which we have launched Mirasol, SKAI, Anantara Mina Ras Al Khaimah Residences, and ENTA in partnership with Hive and A.R.M Holding. This is also a year in which we are focusing on delivery – with over 3,000 homes under construction, we are targeting the handover of more than 800 to customers this year. As attention continues to focus on the future opening of the Wynn Resort, we are well placed to deliver more homes in RAK before Q1 2027 than any other developer operating in the Emirate. This will ensure that investors see immediate gains from the introduction of this major resort,' he added. RAK Properties is focusing on delivery this year, with over 3,000 homes under construction. The company targets the handover of more than 800 homes to customers in 2025. Sales for Solera begin at 10 AM on Saturday, June 21, at the Mandarin Oriental Jumeirah, Dubai. Pre-registration is available on the official website.
Mid East Info
17-06-2025
- Business
- Mid East Info
RAK PROPERTIES UNVEILS SOLERA: THE PULSE OF MINA'S DYNAMIC NEW DOWNTOWN DISTRICT
Vibrant 451-unit community marks an exciting chapter for Ras Al Khaimah real estate Designed for contemporary urban living, exceptional amenities include the Solera Flame Pavilion for al fresco gatherings and co-working space The NOOK Sales commence on Saturday, 21st June, 2025 Ras Al Khaimah, UAE – June 2025: RAK Properties, Ras Al Khaimah's leading publicly listed property developer, today announced the launch of Solera, a vibrant new apartment community set to define the new downtown rhythm of its flagship waterfront destination, Mina. Located on Raha Island, Solera marks an exciting first chapter of the highly anticipated Downtown Mina district. Comprising 451 units across three architecturally distinct buildings anchored by a shared podium, Solera is the inaugural community within RAK Properties' ambitious new district. Upon completion, Downtown Mina will feature six integrated residential communities, offering unparalleled proximity to the wider Mina master plan's amenities. Ideally located alongside multiple dedicated retail and F&B destinations, this urban hub has ready access to an array of lushly landscaped parks, covered walkways, and dynamic community spaces. Apartments in Solera, ranging from 386 to 3,104 sqft and with prices starting from AED 768,000, are complemented by an extensive array of lifestyle amenities designed for contemporary living. Residents will enjoy a stunning 40m infinity-edge lap pool, a dedicated kids' pool and splash pad, and the unique Solera Flame Pavilion – an outdoor gathering space equipped with a BBQ kitchen for the ultimate in al fresco dining. Solera residents will also benefit from an inspirational sculptural garden, a telescope corner for unmatched daytime and nighttime vistas, a relaxing hammock garden, a skateboard park, and a state-of-the-art gym. In addition, specifically catering to the needs of today's increasingly mobile workforce, The NOOK, a dedicated social lounge and co-working space, will offer an ideal environment for entrepreneurs and professionals to connect, share ideas, and grow their businesses. Sameh Muhtadi, Chief Executive Officer of RAK Properties, commented: 'We are proud to launch Solera, the first chapter in the Downtown Mina story. With Solera, we are adding diversity to our product mix and creating new neighbourhoods that add to Mina's overall character. As we continue to pursue the luxury segment elsewhere in our portfolio, Solera and Downtown Mina bring a whole new vibe to Ras Al Khaimah. Younger, edgier, and designed to appeal to work-from-anywhere professionals and entrepreneurs, Solera will contribute to the changing narrative around the Emirate as more and more investors see its real estate market appeal. Muhtadi continued: 'As we reach the midpoint of our twentieth anniversary year, RAK Properties is making good progress with its 2025 product launch pipeline, a period in which we have launched Mirasol, SKAI, Anantara Mina Ras Al Khaimah Residences, and ENTA in partnership with Hive and A.R.M Holding. This is also a year in which we are focusing on delivery – with over 3,000 homes under construction, we are targeting the handover of more than 800 to customers this year. As attention continues to focus on the future opening of the Wynn Resort, we are well placed to deliver more homes in RAK before Q1 2027 than any other developer operating in the Emirate. This will ensure that investors see immediate gains from the introduction of this major resort.' About RAK Properties: Founded in 2005 under the visionary leadership of His Highness Sheikh Saud Bin Saqr Al Qasimi, Ruler of Ras Al Khaimah, RAK Properties is a leading real estate developer committed to producing exceptional and sustainable destinations. Specialising in contemporary and meticulously crafted communities, RAK Properties integrates excellence, innovation, and nature to create enriching lifestyles in alignment with the aspirations of tomorrow's people. RAK Properties plays a pivotal role in achieving RAK Vision 2030, focusing on delivering economic, social, and environmental value, all aimed at enhancing lives and places, and contributing to the prosperous narrative of Ras Al Khaimah. Awards and recognitions: Awarded 'Developer of the Year' 2023 by Construction Week Middle East. Bay Views Residences won the 'Best Residential Project' at the Design Middle East Awards 2023, where the residential development was recognized as the region's best design and architecture. Quattro Del Mar was awarded the Best Mixed-Use Project at the prestigious Pillars of Real Estate Awards 2024.
Zawya
17-06-2025
- Business
- Zawya
Abu Dhabi-listed RAK Properties to start work on Solera in April 202
Abu Dhabi-listed RAK Properties said construction is expected to start on Solera, a residential project in Mina, its flagship waterfront destination, in April 2026. Located on Raha Island, the project will house 451 units across three buildings anchored by a shared podium, the developer said in a statement. Completion and handover are anticipated by the end of April 2028. Solera will have a 40-metre infinity-edge lap pool, a kids' pool and splash pad, as well as an outdoor gathering space equipped with a BBQ kitchen. It will also house 'The NOOK', a social lounge and co-working space. No financial details were given. Sameh Muhtadi, Chief Executive Officer of RAK Properties, said the company is focusing on delivery of more than 800 units this year, with over 3,000 homes under construction. (Writing by P Deol; Editing by Anoop Menon) (
Zawya
17-06-2025
- Business
- Zawya
RAK Properties unveils Solera: The pulse of Mina's dynamic new Downtown District
Designed for contemporary urban living, exceptional amenities include the Solera Flame Pavilion for al fresco gatherings and co-working space The NOOK Sales commence on Saturday, 21st June, 2025 Ras Al Khaimah, UAE – RAK Properties, Ras Al Khaimah's leading publicly listed property developer, today announced the launch of Solera, a vibrant new apartment community set to define the new downtown rhythm of its flagship waterfront destination, Mina. Located on Raha Island, Solera marks an exciting first chapter of the highly anticipated Downtown Mina district. Comprising 451 units across three architecturally distinct buildings anchored by a shared podium, Solera is the inaugural community within RAK Properties' ambitious new district. Upon completion, Downtown Mina will feature six integrated residential communities, offering unparalleled proximity to the wider Mina master plan's amenities. Ideally located alongside multiple dedicated retail and F&B destinations, this urban hub has ready access to an array of lushly landscaped parks, covered walkways, and dynamic community spaces. Apartments in Solera, ranging from 386 to 3,104 sqft and with prices starting from AED 768,000, are complemented by an extensive array of lifestyle amenities designed for contemporary living. Residents will enjoy a stunning 40m infinity-edge lap pool, a dedicated kids' pool and splash pad, and the unique Solera Flame Pavilion – an outdoor gathering space equipped with a BBQ kitchen for the ultimate in al fresco dining. Solera residents will also benefit from an inspirational sculptural garden, a telescope corner for unmatched daytime and nighttime vistas, a relaxing hammock garden, a skateboard park, and a state-of-the-art gym. In addition, specifically catering to the needs of today's increasingly mobile workforce, The NOOK, a dedicated social lounge and co-working space, will offer an ideal environment for entrepreneurs and professionals to connect, share ideas, and grow their businesses. Sameh Muhtadi, Chief Executive Officer of RAK Properties, commented: 'We are proud to launch Solera, the first chapter in the Downtown Mina story. With Solera, we are adding diversity to our product mix and creating new neighborhoods that add to Mina's overall character. As we continue to pursue the luxury segment elsewhere in our portfolio, Solera and Downtown Mina bring a whole new vibe to Ras Al Khaimah. Younger, edgier, and designed to appeal to work-from-anywhere professionals and entrepreneurs, Solera will contribute to the changing narrative around the Emirate as more and more investors see its real estate market appeal. Muhtadi continued: 'As we reach the midpoint of our twentieth anniversary year, RAK Properties is making good progress with its 2025 product launch pipeline, a period in which we have launched Mirasol, SKAI, Anantara Mina Ras Al Khaimah Residences, and ENTA in partnership with Hive and A.R.M Holding. This is also a year in which we are focusing on delivery – with over 3,000 homes under construction, we are targeting the handover of more than 800 to customers this year. As attention continues to focus on the future opening of the Wynn Resort, we are well placed to deliver more homes in RAK before Q1 2027 than any other developer operating in the Emirate. This will ensure that investors see immediate gains from the introduction of this major resort.' Sales for Solera commence from 10am on Saturday, 21st June, at the Mandarin Oriental Jumeirah, Dubai. For more information and to pre-register, go to: Construction is expected to start at the start of April 2026, with completion and handover anticipated to take place by the end of April 2028. About RAK Properties Founded in 2005 under the visionary leadership of His Highness Sheikh Saud Bin Saqr Al Qasimi, Ruler of Ras Al Khaimah, RAK Properties is a leading real estate developer committed to producing exceptional and sustainable destinations. Specialising in contemporary and meticulously crafted communities, RAK Properties integrates excellence, innovation, and nature to create enriching lifestyles in alignment with the aspirations of tomorrow's people. RAK Properties plays a pivotal role in achieving RAK Vision 2030, focusing on delivering economic, social, and environmental value, all aimed at enhancing lives and places, and contributing to the prosperous narrative of Ras Al Khaimah. Awards and recognitions Awarded 'Developer of the Year' 2023 by Construction Week Middle East. Bay Views Residences won the 'Best Residential Project' at the Design Middle East Awards 2023, where the residential development was recognized as the region's best design and architecture. Quattro Del Mar was awarded the Best Mixed-Use Project at the prestigious Pillars of Real Estate Awards 2024.
