Latest news with #Charapenak
Zawya
26-03-2025
- Business
- Zawya
Ras Al Khaimah's real estate boom: Transactions surge nearly 25,000% in 7 years
Ras Al Khaimah, UAE – 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 AED 2,535,067,291—an exponential leap from just AED 10,113,300 in June 2017. Similarly, mortgage values have soared, recording AED 3,475,928,534 in July 2024, compared to AED 15,836,398 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. Andrei Charapenak, CEO of Major Developers, commented on this remarkable market transformation: '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.' Major Developers, a key player in Ras Al Khaimah's booming property sector, has been at the forefront of this growth, delivering landmark projects that cater to the rising demand from local and international investors. '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, introducing world-class developments that align with global standards,' Charapenak added. The surge in transactions 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. As the emirate continues its growth, Major Developers remains committed to leveraging this momentum, spearheading innovative projects that redefine the real estate landscape in Ras Al Khaimah. 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 .
ME Construction
17-02-2025
- Business
- ME Construction
Phase II of Manta Bay launches
Property Phase II of Manta Bay launches By Al Marjan Island development has already attracted interest from international developers, featuring key location and an array of lifestyle amenities UAE-based Major Developers has launched Phase II of its flagship project, Manta Bay, located on Al Marjan Island, Ras Al Khaimah, following the 'strong success' of Phase I. Announcing the new launch, the developer said this has been in response to heightened demand, with strong investor interest and expressions of interest (EOIs) already translating into multiple initial bookings. Designed to cater to the preferences of a global investor base spanning over 25 nationalities, Phase Two offers innovative and landscaped luxury living solutions. Buyers can also choose fully furnished units to enhance investment potential, with the units featuring private jacuzzis and BBQ-equipped terraces, with access to a wide range of other on-site lifestyle amenities. Major Developers' CEO, Andrei Charapenak said, 'The overwhelming interest in Manta Bay Phase II 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. 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,' concluded Charapenak.
Khaleej Times
13-02-2025
- Business
- Khaleej Times
RAK's real estate market witnesses remarkable growth amid luxury appeal
Ras Al Khaimah is experiencing a remarkable surge in its real estate market, marked by record-breaking transaction volumes that underscore the emirate's growing allure for luxury living at a fraction of the cost compared to established markets worldwide, property experts said. In 2024, total real estate transactions skyrocketed to Dh15.08 billion, reflecting an astonishing 118 per cent increase from Dh 6.94 billion in 2023, according to the latest data from Ras Al Khaimah Municipality. This unprecedented growth highlights RAK's transformation into a hub for high-end yet accessible real estate, offering a unique blend of luxury, affordability, and long-term investment potential. Real estate experts assert that this uptrend solidifies the emirate's position as one of the UAE's most promising property markets. 'The surge in transactions reflects the emirate's continued evolution into a premier destination for high-end real estate, combining luxury with affordability,' said Andrei Charapenak, CEO of Major Developers. 'As an early believer in RAK's potential, we are committed to delivering premium waterfront projects that align with the emirate's vision for sustainable, high-value real estate.' The emirate's appeal is further enhanced by its prime waterfront developments, ongoing infrastructure projects, and expanding entertainment options, including the much-anticipated Wynn Al Marjan Island. These developments are drawing both global and regional investors seeking lucrative opportunities. Charapenak elaborated, 'Our commitment to shaping RAK's future through innovative projects is evident. In 2024, we've seen a surge in demand, confirming that both investors and homebuyers recognise the unique opportunities this market presents. We are dedicated to creating world-class developments that maximise long-term returns.' Real estate analysts highlight that RAK is not just a property market; it is evolving into a major lifestyle and tourism destination. The emirate's burgeoning hospitality sector, bolstered by new world-class resorts and enhanced air connectivity, is amplifying its appeal to global visitors and residents alike. Projects like Al Marjan Island, known for its sought-after waterfront residences, are experiencing heightened demand as investors anticipate strong rental returns ahead of the Wynn Resort's grand opening. Major Developers is at the forefront of this transformation, actively contributing to the emirate's growth with innovative residential and mixed-use projects designed for both end-users and investors. 'Ras Al Khaimah boasts an exceptional quality of life, investor-friendly regulations, and high rental yields, solidifying its status as one of the UAE's most dynamic real estate markets,' added Charapenak. The emirate's appeal extends beyond homebuyers, with a robust rental market supported by a growing expatriate population and strong demand for quality properties. 'Ras Al Khaimah's strategic developments, particularly the limited supply of 20,000 units on Al Marjan Island, position it as a lucrative destination for investors,' noted a realty expert. 'Projects like Manta Bay, which offers the most affordable studio apartments starting at Dh 1.2 million, are especially attractive due to their proximity to key attractions like the upcoming Wynn Resort.' With two years remaining until the Wynn Resort's grand opening, the average hotel room rate in the area currently ranges between Dh1,000 and Dh1,500 per night. For property investors in Manta Bay, renting an apartment at Dh 1,000 per night for 255 days a year—a conservative 75 per cent occupancy rate—could yield Dh 255,000 in annual rental income. After deducting management fees (15 per cent, or Dh30,000), service charges (Dh 6,000), and other expenses (Dh 7,000 for utilities), investors would net Dh 212,000 annually. This translates to an impressive rental return on investment (ROI) of 15 per cent, reaffirming RAK's position as a stable and well-regulated environment offering long-term returns. Market pundits said RAK's real estate market is not only thriving but also redefining luxury living, making it a compelling destination for investors and homebuyers alike. As demand continues to rise, developers are poised to create landmark projects that promise to elevate the emirate's profile on the global real estate stage, they added.
Zawya
31-01-2025
- Business
- Zawya
Major Developers unveils Phase II of RAK flagship project
UAE-based Major Developers has launched the Phase II of its flagship project, Manta Bay, located on the iconic Al Marjan Island in Ras Al Khaimah following the success of its first phase. Announcing the new launch, the developer said this has been 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, it stated. 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, it stated. CEO Andrei Charapenak said: "The overwhelming interest in Manta Bay Phase II 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." "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," noted Charapenak. "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," he added. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
30-01-2025
- Business
- Trade Arabia
Major Developers unveils Phase II of RAK flagship project
UAE-based Major Developers has launched the Phase II of its flagship project, Manta Bay, located on the iconic Al Marjan Island in Ras Al Khaimah following the success of its first phase. Announcing the new launch, the developer said this has been 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, it stated. 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, it stated. CEO Andrei Charapenak said: "The overwhelming interest in Manta Bay Phase II 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." "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," noted Charapenak.
