UAE launches Aston Martin-branded residential tower

Dar Global

The global development arm of Saudi-listed Dar Al Arkan Real Estate Development will launch a $250 million luxury beachfront residential project in Ras Al Khaimah with interiors designed by British luxury carmaker Aston Martin.

The residential project, located on Al Marjan Island, will be launched in May, London-listed Dar Global said in a statement.

The project is the first for Aston Martin’s design team in the GCC following brand collaborations in the United States and Japan. 

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The unnamed tower, built in collaboration with Aarvees Group, is expected to be completed in 2028.

“The introduction of a residence with interiors by Aston Martin on Al Marjan Island further enhances the appeal of our premier destination,” said Abdulla Al Abdouli, CEO of Marjan. 

Ziad El Chaar, CEO of Dar Global, said the collaboration with Aston Martin marks a significant milestone as the company expands it footprint into Ras Al Khaimah. 

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Abu Dhabi-listed Aldar Properties last September said it will partner with resort group Nikki Beach Global to develop three branded residential buildings on Ras Al Khaimah’s Al Marjan Island.

Dubai-based developer Durar launched a $190.58 million Yoo-branded residential tower on Al Marjan Island in October 2023.

Last year, S&P Global Ratings said that Ras Al Khaimah’s tourism and infrastructure projects, including the Wynn Al Marjan Island resort, could strengthen the emirate’s growth prospects over the next two to three years.

Although the hospitality sector makes up only four percent of the emirate’s GDP, this proportion will likely increase as resorts open, the rating agency said. 

There are plans to open more than 20 hotels in RAK over the next five to six years, increasing its hotel room capacity by 90 percent.