Construction work on the project has already started and is scheduled to complete at the end of 2026
Major Developers Announces Dh1 Billion “Manta Bay” Project in Ras Al-Khaimah
UAE-based Major Developers unveiled their Dh1 billion project, Manta Bay, on Al Marjan Island in Ras Al-Khaimah. This innovative development boasts the world’s first rooftop beach, featuring real sand and seawater. Construction is already underway with a targeted completion date at the end of 2026.
Key Highlights:
- World’s First Rooftop Beach: Manta Bay offers a unique amenity – the world’s first rooftop beach with sand and seawater, creating a one-of-a-kind experience for residents and visitors.
- Residential Freehold Project: This Dh400 million residential project will offer 450 freehold units starting from Dh1.2 million.
- Strategic Location: Located on Al Marjan Island, Manta Bay benefits from its proximity to the highly anticipated Wynn Resort, further enhancing its appeal.
- Strong Investor Interest: Major Developers reports significant interest from US investors, likely driven by the Wynn Resort development.
- Projected Growth: The developer anticipates property values to increase by up to 70% by project completion, offering investors a compelling return on investment.
- Ras Al Khaimah’s Tourism Potential: Major Developers expects a significant tourism influx to Ras Al-Khaimah following the Wynn Resort opening, creating high demand for accommodation.
- Future Expansion Plans: The company’s CEO, Andrei Charapenak, expressed plans to launch a new project in Dubai to capitalize on the emirate’s thriving real estate market.
- Market Validation: The presence of established developers like Emaar and Aldar on Al Marjan Island further reinforces the area’s investment potential according to Naren Vish, Major Developers’ CMO.
Manta Bay positions itself as a groundbreaking development in Ras Al-Khaimah, capitalizing on the emirate’s growing tourism sector and offering investors a chance to participate in its projected real estate boom.
News Source: khaleej Times
