Spectrum Consultants announced that ASTECO, the exclusive sales agents has officially commenced the sales of the residential apartments at Bab Al Bahr, offering investors freehold ownership opportunities for the AED 1.2 billion luxury resort being developed by Rakeen on the Al Marjan Island in Ras Al Khaimah.

The sales launch provides investors with the chance to purchase studio, one, two, and three bedroom apartments, complete with 360 degree sea views and 560 metres of private beach front, at attractive prices being offered for a limited period.

On completion in 2009, Bab Al Bahr will encompass freehold residential apartments, a shopping centre, a 25-storey office tower and a four-star deluxe hotel on Rakeen’s man-made coral-shaped atoll being built to extend four kilometres into the Arabian Gulf.

“We had a very successful project launch last month, so we are hoping to emulate that success at the sales launch by encouraging investment in one of the UAE’s most charming emirates. Rakeen has a very fresh approach to development, and this will appeal to investors who want to live in the ultimate resort destination, and enjoy the calm of the sea combined with the sophistry of modern lifestyle,” commented Wahid Atalla, Chief Executive Officer of Spectrum Consultants – Bab Al Bahr owners’ consultants and representatives.

The apartments, which range in size from 43 square metres for a studio – to 314 metres square for three bedrooms, start at AED 321,000 for the launch promotion. Home buyers are offered mortgage facilities of up to 90 per cent through Union National Bank, as well as a UAE residence visa on purchase and a buy-to-rent option.



A total of five residential buildings, incorporating a total of 710 residential freehold apartments, are earmarked for construction, including 110 studio apartments, 290 one-bedroom apartments, 220 two-bedroom apartments and 90 three-bedroom apartments. Ownership includes access to amenities such as gymnasium and health facilities, themed swimming pools, private beach, children’s play areas, parking for 800 cars, and 24 hour security.

Located only twenty minutes from the Ras Al Khaimah International Airport and 45 minutes from Dubai, Bab Al Bahr will be a self-contained community, offering residents and visitors leisure facilities including, exotic gardens, beach parks, a la carte dining options, beach activities and a nearby golf course. The resort will be landscaped to have a tropical look, with coconut trees, flowers, shrubs, stones and waterfalls that are designed to allow for easy internal and external accessibility flow of residential and visitor traffic.

Rakeen, the master developers have appointed a selection of experts in their field for the development and operations of Bab Al Bahr, including Spectrum Consultants, the Owner’s representatives and consultants; ASTECO – the real estate agent for the freehold apartments, freehold offices and rental of the retail centre; Union National Bank - mortgage facilitator for home and office owners; and B&G Hotels & Resorts - the hotel management company;

Literally translating to ‘central pillar’ in Arabic, Rakeen is a private joint stock company established in 2006 by the Emirate of Ras Al Khaimah to support the development of the emirate’s booming real estate and property development sectors. With an authorised capital of AED 3 billion, Rakeen has slated additional projects for completion in the near future, including an exhibition and convention centre, offshore financial districts and new urban developments both locally and internationally.