Skip to content Skip to Search
Skip navigation

New $1bn Ras Al Khaimah project to have 140-foot arch

Sora Beach Residences on Al Marjan Island will span a built-up area of 1.8 million square feet Aark Developers
Sora Beach Residences on Al Marjan Island will span a built-up area of 1.8 million square feet

A new AED4 billion ($1.1 billion) residential development on Ras Al Khaimah’s man-made archipelago will house a 140-foot-high arch, its developer has said. 

Sora Beach Residences on Al Marjan Island is slated to have one the “grandest atriums ever seen in the region”, Dubai-based Aark Developers said in a statement.

The 18-floor high project will span a built-up area of nearly 2 million square feet. It will feature a private beach club, an infinity sky bar and pool, a private ferry shuttle service and a 1,000-foot private beach.

Japanese architectural firm Nikken Sekkei has designed the project.

No construction details were given. 

The news comes as the four-day annual Arabian Travel Market, the region’s biggest travel and hospitality exhibition, opens in Dubai.

In October S&P Global Ratings rated RAK’s long-term outlook as “positive”, upgrading it from “stable”.

Real GDP growth in RAK, the fourth largest emirate in the UAE, with a population of nearly 350,000 people, is likely to average close to 4 percent over the next four years, compared to 2.6 percent in 2012-2021. 

Although the hospitality sector makes up only 4 percent of GDP, this proportion will likely increase as resorts open, S&P said. 

Latest articles

Opec Secretary General Haitham Al Ghais says peak oil 'is not on the horizon'

Upstream oil and gas ‘needs more annual investment’

Annual capital expenditure for exploration and production in the upstream sector of the oil industry needs to increase by 22 percent by 2030 because of growing demand and cost inflation, experts say. A cumulative $4.3 trillion needs to be invested between 2025 and 2030, according to a report by the International Energy Forum (IEF) and […]

Rothschild Saudi

Edmond de Rothschild to run funding vehicle for Saudi projects

The Edmond de Rothschild Group is establishing a funding vehicle for infrastructure projects in Saudi Arabia along with the local firm SNB Capital, as part of a deal in which the Swiss investment bank will set up offices in the country.  Saudi Arabia’s massive economic diversification programme has run into financial obstacles as it faces […]

2KEY8G1 Emirates Airline Airbus A380 aircraft landing. Aerial view of Emirates Airlines A380-800 airplane. An Emirates plane coming in to land at LAX; a spokesperson for Emirates said the contraventions were for safety reasons

US fines Emirates for operating in prohibited airspace

Emirates has been fined $1.5 million by the US Transportation Department for operating flights carrying JetBlue Airways’ JBLU.O designator code in prohibited airspace. The transportation department said that between December 2021 and August 2022, Emirates operated a significant number of flights carrying the JetBlue Airways code between the United Arab Emirates and the United States […]

Egypt will use the US funding across a range of sectors including agriculture

US allocates $130m development funding to Egypt

The US has allocated funding of $130 million for a range of developmental projects in Egypt, it was announced on Thursday. In a press release published by the US Embassy in Cairo, ambassador Herro Mustafa Garg said that the money would go towards “advancing Egyptian efforts to achieve a brighter, healthier, and more prosperous future […]