RAK Properties has awarded a contract to build the second phase of its Flamingo Villas project in the Mina Al Arab waterfront development to the Al Nuaimi Group.
The contract covers the delivery of 68 new villas ranging in size from about 186 square metres to 217 sq metres.
Al Nuaimi Group has also been responsible for the delivery of phase one of Flamingo Villas. It is made up of 124 homes and is due for completion by the end of the year.
RAK Properties’ chief executive Mohammed Sultan Al Qadi said: “Flamingo Villas is a part of our flagship master development, Mina Al Arab, that we entrust only to partners who are highly capable of realising our vision for this landmark community. Al Nuaimi Group’s impressive work on phase one meets our expectations and showcases the type of living environment that makes the Flamingo district unique.”
Mina Al Arab is a Dh10 billion master-planned project along the Ras Al Khaimah coastline that was initially launched in May 2006.
RAK Properties is listed on the Abu Dhabi Stock Exchange. Its shares closed almost 2 per cent down at 54 fils yesterday.
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