Latest news with #AndreiCharapenak
Trade Arabia
6 days ago
- Business
- Trade Arabia
Football legend Rijkaard buys RAK waterfront residence
UAE-based Major Developers has announced that football legend Frank Rijkaard has officially bought a residence at the brand's landmark seafront development, Manta Bay, located on Al Marjan Island, in Ras Al Khaimah. Known across the globe for his legacy as a player and manager, leading teams like FC Barcelona and the Netherlands national squad, Rijkaard is now applying his strategic vision to real estate, choosing Manta Bay for both its elegance and its exceptional investment potential, said the Emirati developer. Lauding the decision, CEO Andrei Charapenak said: "We are honoured to welcome Rijkaard to the Manta Bay community. His storied legacy in football, rooted in vision, excellence, and purpose, aligns closely with our own development philosophy." "It is incredibly rewarding to see world-class individuals resonate with what we are building on Al Marjan Island, in Ras Al Khaimah. His trust is a validation of the investment credibility we have worked hard to cultivate," he stated. Rijkaard's stratergic buy stands as a powerful testament to the growing global appeal of Manta Bay, which has already captivated a discerning investor base, observed Charapenak. "His decision follows the footsteps of fellow football legend Francesco Totti, who has also chosen to align with Major Developers by investing in residences within the project," he stated. "As one of the fastest-selling projects on Al Marjan Island, Manta Bay has become synonymous with design-driven living, sweeping Arabian Gulf views, and seamless access to luxury hospitality with the region's first Sky Pool Beach," he noted
Trade Arabia
24-05-2025
- Business
- Trade Arabia
Major Developers awards contract for Al Marjan Island project
UAE-based Major Developers has appointed New System Engineering (NSE) as the main contractor for its upcoming luxury project, Manta Bay on Al Marjan Island in Ras Al Khaimah. Its scope of work ranges from master planning to execution. This collaboration signifies more than a contractual milestone as it represents a convergence of shared values, industry depth, and a mutual vision to redefine the architectural narrative of Ras Al Khaimah's burgeoning coastline. For Major Developers, this partnership is an affirmation of its guiding philosophy: that enduring luxury is born out of trusted collaboration, technical rigour, and a relentless focus on detail. "In today's fast-evolving market, the true measure of a developer lies not just in what is built, but in how and with whom it is built," remarked its CEO Andrei Charapenak after signing the deal with NSE General Manager & Partner Imad Eddin Khalil. "With New System Engineering, we've found a partner whose discipline, reputation, and culture of excellence echo our own. This collaboration marks an important chapter in our journey - one where quality is not a goal but a guarantee," he stated. Set against the panoramic backdrop of Al Marjan Island, this development promises to be a benchmark in design, livability, and construction finesse. From master planning to execution, every facet will reflect the hallmarks of precision, aesthetic harmony, and enduring value. has been a cornerstone in the UAE's engineering landscape for over two decades. Their portfolio spans transformative residential, commercial, and infrastructural projects, each marked by integrity, innovation, and adherence to the highest international standards. The signing also signals the start of an exciting new phase for Major Developers, as it continues to solidify its presence in the Northern Emirates of the UAE, stated Charapenak. A new project in RAK Central is already on the horizon, poised to further Major Developers' vision of creating urban experiences that are both aspirational and sustainable, said the Emirati developer.
Web Release
22-05-2025
- Business
- Web Release
Mortgage Market in Ras Al Khaimah Surges by Over 22,000%, Cementing Investor Confidence
Ras Al Khaimah's property market continues to defy expectations, with mortgage activity emerging as a clear indicator of long-term investor trust in the emirate's economic trajectory. According to the latest data released by the Ras Al Khaimah Statistics Centre, the total value of mortgages in the emirate has soared from just AED 15.8 million in July 2017 to an astonishing AED 3.47 billion in July 2024—a rise exceeding 22,000% over seven years. This extraordinary leap underscores a dramatic shift in buyer behaviour, where both local and international investors are increasingly opting for mortgage-backed acquisitions to secure their stake in the emirate's rapidly evolving real estate market. Andrei Charapenak, CEO of Major Developers, commented on this milestone: 'A surge of over 22,000% in mortgage values is not just a statistic—it's a powerful signal that Ras Al Khaimah has transitioned into a mature, finance-driven real estate market. It reflects rising investor confidence, robust demand for quality developments, and the availability of attractive financing solutions.' He continued: 'This trend shows that buyers aren't just speculating—they're committing. Whether it's for primary residences, investment properties, or vacation homes, we're seeing a growing appetite for long-term ownership, and mortgages are enabling that vision.' Major Developers, a leading force in Ras Al Khaimah's real estate sector, has been instrumental in supporting this shift through master-planned communities that combine luxury, livability, and financial accessibility. The company's latest offerings are designed to meet the needs of today's mortgage-savvy buyer—prioritizing quality construction, sustainability, and future-ready design. The surge in mortgage-backed purchases comes as Ras Al Khaimah continues to roll out a series of transformational initiatives—from expanding its international airport and boosting hospitality infrastructure to introducing new economic free zones and sustainability-driven urban plans. These developments are not only attracting global attention but also creating fertile ground for end-users to invest with confidence. With this financial upswing, Major Developers remains committed to enabling accessible homeownership and investment opportunities, empowering more buyers to become part of the emirate's exciting future.
Zawya
28-03-2025
- Business
- Zawya
RAK nets $688mln in real estate sales amid property boom
The real estate market in Ras Al Khaimah has witnessed unprecedented growth, with transaction volumes skyrocketing by nearly 25,000% over the past seven years, according to the latest data from the Ras Al Khaimah Statistics Centre. The total value of real estate transactions in June 2024 reached an astonishing AED2.53 billion ($688 million) - an exponential leap from just AED10 million ($2.72 million) in June 2017. Similarly, mortgage values have soared, recording AED3.47 billion in July 2024, compared to AED15.8 million in July 2017 - an unprecedented increase of approximately 21,849%. This surge underscores the growing investor confidence and the emirate's rising prominence as a real estate powerhouse, said Andrei Charapenak, the CEO of Major Developers, a leading developer in Ras Al Khaimah. "Ras Al Khaimah is no longer an emerging player, it has cemented itself as a prime investment destination. The staggering increase in real estate transactions and mortgage values reflects the emirate's economic momentum, fuelled by visionary leadership, strategic infrastructure developments, and a strong appetite for premium residential and commercial spaces," he noted. The surge in transactions, he stated ,comes at a time when Ras Al Khaimah is attracting heightened interest due to its strategic initiatives, including the expansion of Ras Al Khaimah International Airport, hospitality and entertainment investments, and a strong push toward sustainable urban development. "We are seeing a paradigm shift in investor sentiment - luxury, sustainability, and lifestyle integration are driving purchasing decisions. Major Developers is committed to shaping the future of real estate in Ras Al Khaimah," he added.- TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
27-03-2025
- Business
- Trade Arabia
RAK nets $688m in real estate sales amid property boom
The real estate market in Ras Al Khaimah has witnessed unprecedented growth, with transaction volumes skyrocketing by nearly 25,000% over the past seven years, according to the latest data from the Ras Al Khaimah Statistics Centre. The total value of real estate transactions in June 2024 reached an astonishing AED2.53 billion ($688 million) - an exponential leap from just AED10 million ($2.72 million) in June 2017. Similarly, mortgage values have soared, recording AED3.47 billion in July 2024, compared to AED15.8 million in July 2017 - an unprecedented increase of approximately 21,849%. This surge underscores the growing investor confidence and the emirate's rising prominence as a real estate powerhouse, said Andrei Charapenak, the CEO of Major Developers, a leading developer in Ras Al Khaimah. "Ras Al Khaimah is no longer an emerging player, it has cemented itself as a prime investment destination. The staggering increase in real estate transactions and mortgage values reflects the emirate's economic momentum, fuelled by visionary leadership, strategic infrastructure developments, and a strong appetite for premium residential and commercial spaces," he noted. The surge in transactions, he stated ,comes at a time when Ras Al Khaimah is attracting heightened interest due to its strategic initiatives, including the expansion of Ras Al Khaimah International Airport, hospitality and entertainment investments, and a strong push toward sustainable urban development.
