Major Developers unveils Phase Two of Manta Bay on Al Marjan Island
Ras Al Khaimah, UAE – Following the phenomenal success of Phase One, Major Developers unveiled today Phase Two of its flagship project, Manta Bay, located on the iconic Al Marjan Island.
Phase Two has been launched in response to heightened demand, with strong investor interest and expressions of interest (EOIs) already translating into multiple initial bookings. Units are selling fast, reflecting the unparalleled appeal of this unique luxury development.
Designed to cater to the preferences of a global investor base spanning over 25 nationalities, Phase Two offers innovative luxury living solutions. The buyers can also choose fully furnished units to enhance investment potential. Additionally, these units feature private jacuzzis and BBQ-equipped terraces, creating an exceptional lifestyle experience that distinguishes Manta Bay both in the UAE and worldwide.
Andrei Charapenak, CEO of Major Developers, said:
'The overwhelming interest in Manta Bay Phase Two is a testament to the project's appeal and the confidence investors have in our vision. With exclusive new units and its prime location on Al Marjan Island—home to transformative developments like the Wynn Al Marjan Island resort—this phase enhances the luxury living experience.'
He added: 'We are thrilled to see strong momentum from both local and international buyers, with Phase Two already receiving bookings and EOIs from investors across 25 countries. This is a clear reflection of Manta Bay's global appeal and its potential as a prime investment opportunity. To meet this growing demand, we have introduced a wider range of layouts designed to accommodate evolving investor and resident needs.'
Ras Al Khaimah continues its rise as a premier real estate and tourism hub, supported by bold development initiatives. A recent study projects the emirate will welcome over 5.5 million visitors by 2030, achieving a compound annual growth rate (CAGR) of 28% from 2022. Transformative projects like the Wynn Al Marjan Island resort underscore the emirate's potential as a global destination.
Major Developers also welcomed Italian football legend Francesco Totti as their brand adviser, adding a touch of international celebrity recognition to its already prestigious appeal. Totti's association highlights the development's global allure and luxurious lifestyle, reinforcing its reputation as a world-class destination for discerning investors and residents.
Manta Bay aligns seamlessly with Ras Al Khaimah's ambitious vision to become a global hub for tourism and investment, further cementing its position as a standout destination on the world stage.
-Ends-
About Major Developers
Major Developers is a UAE-based real estate company specializing in delivering luxury living experiences across prime locations. Known for their commitment to quality, innovation, and sustainability, Major Developers create bespoke residential communities that redefine modern living dedicated to enhancing lifestyles through architectural excellence and cutting-edge amenities. Major Developers' projects are designed to offer a perfect blend of comfort, functionality, and elegance, catering to the evolving needs of discerning homeowners and investors. For more information, pls visit https://majordevelopers.com/
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gulf Today
an hour ago
- Gulf Today
How badly could Donald Trump hurt Elon Musk?
Io Dodds, The Independent Even for Elon Musk, this is — to use the precise technical term — bonkers. Barely one week after leaving the Trump administration with every semblance of amity, the world's richest person is going scorched earth against the leader of the world's richest nation. Insults and threats. Calls for impeachment. Sinister references to Jeffrey Epstein. Somehow, Kanye West is also involved. It's like the messiest online influencer drama you've ever seen, except the parties are two of the most powerful people on Earth. But when it comes down to brass tacks, what exactly does Musk stand to lose in this titanic celebrity divorce? If Trump were to follow through on all his threats, and use every available weapon against Musk's business empire, how badly could it hurt him? The short answer is: pretty badly. In fact, with some admittedly quick and dirty math, we can put a price tag on some of it. SpaceX and the $68bn black hole. Elon Musk's estimated $388bn fortune — already $26.6bn smaller than it was before this frank exchange of thermonuclear warheads — depends on the success of two companies which are both intertwined with the US political system. One is Tesla, which makes electric vehicles; the other is SpaceX, which builds rockets, spacecraft, and satellites. X, formerly Twitter, can be left aside for now; having bought the social network 2022 for $44bn, Musk is still struggling to recoup his investment and has almost certainly lost money overall. Let's start with Space Exploration Technologies Corp., aka SpaceX. Not many people can afford to rent a rocket, so a lot of its business comes from government contracts, and U.S. government contracts most of all. As of writing, according to federal data, the Texas-based company has been paid or promised just under $21bn by Uncle Sam since 2008. The total potential value of all SpaceX's existing contracts, however, is much higher: $89.2bn. If Trump cancelled every contract tomorrow, that would mean a theoretical maximum of $68bn in lost potential income. For context, that's more than four times SpaceX's entire forecasted revenue for 2025, and nearly 15 times its revenue from 2022. Of course, there's no way to know if those maximum payments would ever actually have been made. So we could also get a rough sense of what SpaceX stands to lose by looking at the actual cash it received from federal coffers every year. In 2022 that was $2.8bn; in 2023, $3.1bn; and in 2024, $3.8bn. On the plus side for Musk, the US government is so dependent on SpaceX that some critics have called it a monopoly in the making. SpaceX ferries our astronauts to and from the International Space Station, is heavily involved in Nasa's moon landing program, and manages an increasing share of government satellite communications as well. Still, that does not guarantee safety. Would you really, in all soberness, bet against Donald Trump doing something that hurts the country merely to punish his personal enemies? In fact, as Talking Points Memo editor-in-chief Josh Marshall argues, SpaceX's critical role might actually put it in greater danger, because it leaves the feds with few options except "expropriation or nationalisation". Tesla in regulators' crosshairs?Like SpaceX, Tesla has benefited greatly from taxpayer money, mostly in the form of emission trading payments from non-electric carmakers and tax credits or consumers buying electric vehicles. An analysis by The Washington Post put Tesla's total income from emission credits since 2007 at $11.4bn as of this February. Its gain from tax credits, which allow more people to buy its cars at higher prices, has been estimated at $3.4bn. Those emission credit schemes are run by US states, not by the federal government. Nevertheless, Trump and the Republican Party have tried to undermine such schemes by contesting states' ability to set their own emissions rules. The wider impact is difficult to calculate. In contrast to SpaceX, Tesla sells to ordinary people, who tend to have their own opinions independent of government. In reputational terms, splitting noisily with Trump could reverse some of its recent sales losses; on the other hand, it might just make Tesla hated on both sides of politics. The biggest risk may be regulatory. At the time of Trump's second inauguration, Tesla was being investigated by numerous federal agencies including the Justice Department, the National Labor Relations Board, and the National Highway Traffic Safety Administration — which by itself had six pending probes. During his time at DOGE, Democrats feared Musk could use his power to influence or cancel these cases. But Trump's unabashed willingness to wield state power to punish those who displease him while rewarding loyalists cuts both ways. Live by the chainsaw, die by the chainsaw. How much that costs Tesla would depend on how far Trump is willing to go, and on the outcome of any ensuing court battle. But when U.S. stock exchanges closed on Thursday its share price had crashed by nearly 12 percent, wiping $122bn off its market value. Potential deportation — or worseSo far we've only addressed Elon Musk's finances. Yet there are other, more personal ways that Trump could hurt him if the former reality TV star truly isn't here to make friends. For example, Trump's old advisor Stephen Bannon — who has previously branded Musk a "parasitic illegal immigrant" — urged the administration to investigate Musk's immigration history, and potentially deport him. Unlike some of the feverish allegations that emanate from the extended Trump-o-sphere, this one actually has some substance. An investigation by The Washington Post last year alleged that Musk had worked illegally in the US while launching his Silicon Valley career in the mid-90s. Musk has denied this, and in any case he has been a US citizen since 2002. Still, legal experts have said his citizenship could technically be revoked if he were proven to have lied to immigration authorities. And while those laws have only rarely been enforced in the past 25 years, some Trump aides and allies have said they want that to change. Nor is that anywhere close to the only alleged skeleton in Musk's closet. What is his relationship with ecstasy, Adderall, ketamine, or magic mushrooms? Has he ever been in regular contact with Vladimir Putin? Did his colleagues at DOGE rigorously follow information security laws when extracting sensitive data from federal systems? What happened to all that data after it was obtained? At least we can probably can rule out plain old assassination by government special forces. Although, to be fair, that is literally something that Trump and his lawyers have argued should be protected by presidential immunity.
The National
2 hours ago
- The National
UAE Property: ‘Can my landlord evict me for not agreeing to a rent rise?'
Question: I have been renting a villa in Dubai for the past three years, and my tenancy contract is due for renewal in a couple of months. My landlord has just informed me that he intends to increase the rent by 15 per cent, which seems excessive. I checked the Real Estate Regulatory Agency's rental index, and according to it, my current rent is already within the acceptable range for similar properties in my area. I've raised this with my landlord, but he insists on the increase and says if I don't agree, he will not renew the contract. I've always paid rent on time and maintained the property well. Do I have any legal recourse in this situation? Can he evict me just because I'm not agreeing to the rent hike? CT, Dubai Answer: Under Dubai's tenancy laws, specifically Law No. 26 of 2007 as amended by Law No. 33 of 2008, landlords cannot arbitrarily increase rent beyond what is permitted by the Rera. The new smart rental index is the official tool that governs permissible rent increases and any proposed rise must fall within the parameters it outlines. If your current rent is already within the acceptable range compared to similar properties in your area, and the index confirms that a 15 per cent increase is not justified, then the landlord cannot legally impose such a rise. Furthermore, the landlord must provide a minimum of 90 days' written notice before the renewal date if he intends to amend any terms of the contract, which obviously includes the rent. If he has failed to do so within this time frame, the existing terms – including the current rent – will automatically carry forward into the new lease term. Regarding eviction, the law is clear: a landlord can only evict a tenant for specific reasons, such as wanting to move in themselves or to sell the property. These reasons must be supported by proper documentation. Even then, they are required to provide at least 12 months' notice through a notary public or registered mail. In your case, if the landlord is threatening to evict you purely because you are not accepting an illegal rent increase, this would not stand in front of the Rental Dispute Settlement Centre (RDSC). You have every right to challenge such a demand and I would encourage you to gather all communication in writing and, if need be, file a complaint with the RDSC to uphold your rights. Q: I'm based in London and am considering buying a property in Dubai as an investment. While I'm familiar with the sale prices, I want to make sure there are no hidden costs or taxes that could catch me off guard. What additional costs should I expect when purchasing a property in the UAE, especially in terms of government fees, taxes and continuing expenses? GC, London A: The UAE, and particularly Dubai, remains one of the more attractive property markets globally due to its relatively low transaction costs and absence of annual property taxes. However, there are still several upfront and continuing costs you should be aware of: Upfront costs Dubai Land Department (DLD) fees: This is the most significant government-related cost. The DLD charges a 4 per cent transfer fee on the property's purchase price, plus an administration fee (typically Dh580 for apartments/villas). Agency commission: If you use an estate agent, expect to pay around 2 per cent of the purchase price as a commission. Trustee office fees: These are the service centres that process the legal transfer. The cost is around Dh4,000 for properties above Dh500,000 (and Dh2,000 for those below that threshold). Mortgage registration fee: If you're borrowing to buy, the DLD charges 0.25 per cent of the loan amount, plus Dh290 in admin fees. Valuation fee (for mortgages): Lenders typically charge around Dh2,500 to Dh3,500 for property valuation, paid by the buyer. Developer's NOC fee: For secondary market purchases, the developer must issue a no objection certificate (NOC) to transfer ownership. This usually costs between Dh500 and Dh5,000, depending on the developer. Continuing costs Service charges: These are annual fees paid by property owners to maintain the building or community (covering cleaning, security, landscaping, etc.). Charges vary widely by project and are calculated per square foot. Maintenance/repairs: These are not regulated and depend on the age and condition of the property. It's wise to budget for unexpected repairs. One of the major benefits in the UAE is that there is no annual property tax on owned real estate or any tax on selling the property either, making it an appealing investment environment. That said, if you let the property, you may need to consider income from rent in your home country's tax filings, depending on your residency status and tax obligations abroad. In conclusion, while there are no hidden taxes, the combined cost of these fees can total between 7 per cent to 8 per cent of the property price, so it's important to budget accordingly.
Khaleej Times
6 hours ago
- Khaleej Times
‘I feel lighter': UAE pilgrims on Hajj say shaving head is about 'shedding arrogance'
In Mina, surrounded by thousands of pilgrims and resting after a long day of spiritual rituals, Jassim Al Khatib from Dubai sat on a barber's chair shaving his head, speaking to his younger brother over a video call. 'I did it,' Jassim told his brother, running his hand over his completely shaved head. 'It's all gone. I feel lighter, like something heavy has been lifted from within.' Jassim is among the thousands of UAE residents who are currently performing Hajj, one of the five pillars of Islam. With the major rites completed, including standing at Arafat and the symbolic stoning of the devil at Jamarat, Jassim had just fulfilled one of the final acts of the pilgrimage — shaving his head, which is called Halq in Arabic. 'More than just hair' Speaking to Khaleej Times over the phone, Jassim remembered the moment he completed the shaving ritual. 'When the barber passed the blade over my head, I closed my eyes and just thought about everything I wanted to leave behind — my sins, my ego, my past mistakes. This isn't just about removing hair. It's about shedding arrogance and walking into a new life.' According to Islamic tradition, shaving the head after Hajj is a powerful symbol of humility, purification, and renewal. Pilgrims believe it marks the end of a transformative journey — a reset of both body and soul. 'I feel reborn' Sohail Siddiqui, a 40-year-old Indian expat from Ajman, also underwent Halq shortly after completing the stoning ritual in Mina. Texting his wife, through a voice note, due to poor network coverage, he broke the news. 'I sent her a voice note saying I just got my head shaved and I am leaving the state of Ihram,' said Siddiqui. His wife replied with a duaa, along with a voice message from their two daughters praying for his safe return. Sohail's group is expected to return to the UAE on June 11, after performing Tawaf al-Wada, the farewell circumambulation around the Holy Kaaba. 'Even though I haven't stepped into my home yet, I feel like I am returning as a better human, a better husband, and hopefully a better Muslim,' he said. For pilgrims, the act of shaving the head is a deeply personal and emotional moment. 'Millions of people surround you, yet you feel very close to God,' said Jassim. 'And in that moment, when you let go of your hair, your pride, your appearance, you are just a servant of Allah.' Significance of shaving the head Shaving the head during Hajj is a deeply spiritual act rooted in obedience and humility, said Sheikh Ayaz Housee, imam at the Next Generation School and khateeb at Al Manar Islamic Centre in Dubai. 'It is a command from Allah performed purely out of submission,' he said. The ritual symbolises purification, as pilgrims shed their hair, they symbolically shed sins, starting afresh. It also serves as a powerful expression of humility, with hair often seen as a symbol of pride and beauty. 'By removing it, the pilgrim humbles himself before Allah, abandoning vanity,' added Sheikh Ayaz. He further said that this ritual is emulating Prophet Muhammad (PBUH), who also shaved his head during Hajj. Joining millions of others in this act, pilgrims reinforce unity, equality, and the brotherhood of Islam.
