Gulf Asia appointed as contractor for Bay Residences
RAK Properties makes announcement as second phase of beachfront project fully sold out
UAE-based RAK Properties has signed up Gulf Asia Contracting Company (GACC) as the main contractor for the development of Phase Two of its flagship community, Bay Residences. Located on Hayat Island, the beachfront development will include 324 apartments, ranging from studios to three-bedroom units, across two towers.
The second phase of the community has already been sold out, said RAK Properties, highlighting a surge in demand for beachfront properties in the emirate, a statement from RAK Properties noted.
GACC operates across the GCC with a number of fully-active projects in the region. The firm has previously been appointed as the main contractor for several large-scale projects including hotels, residential communities, petrochemical plants, oil refineries and infrastructure-related projects.
In late November 2022, RAK Properties announced it had broken ground on the Bay Residences project and, in mid February 2023, the developer awarded the main contract for its Marbella Villas residential project to Gulf Contracting.
On the contract award, RAK Properties’ Chief Development Officer James Marsh said, “At RAK Properties we are dedicated to working with best-in-class partners to realise our vision to deliver exceptional residential communities to the people of Ras Al Khaimah and those wanting to invest in this fast-growing tourism hub. Gulf Asia is a natural partner as it shares our commitment to developing the highest quality communities. We look forward to the delivery of this exciting project which will add a new dimension to RAK Properties’ rich portfolio.”
Situated in close proximity to InterContinental Mina Al Arab Resort & Spa and Anantara Mina Al Arab Resort, Bay Residences will also provide access to several key amenities including swimming pools, playgrounds, retail stores, food and beverage outlets, and gyms, in addition to scenic pedestrian paths, parks and landscaped, open green spaces.
In late April 2023, Wynn Resorts revealed the name and design vision of its $3.9bn RAK hospitality project.
