RAK Properties, Ras Al Khaimah’s leading publicly listed property developer, has unveiled its flagship masterplan, Mina – a premier island lifestyle destination.

Mina, set across a land area of 4 million sq m and comprising three districts – Raha Island, Hayat Island, and Lagoons, is situated along the Ras Al Khaimah coastline. The focus of a AED5 billion ($1.36 billion) gross development value (GDV) pipeline for 2025, the destination is at the heart of RAK Properties’ transformative growth agenda which is built upon delivering a dynamic hub for authentic island living, sustainable development, connectivity and an unparalleled sense of community, said the company.

The first new project to be launched within Mina in 2025 is Mirasol, located on Raha Island – a resort-inspired living concept, and incorporating a restaurant being developed in partnership with Spanish Michelin star chef Vicente Torres.

Mirasol features a range of studios, apartments and duplexes and is scheduled for handover in the first half of 2028. Anchored by a central podium, this two-tower, 339-unit community will include an oasis-style swimming pool and sunken beds, open-air cinema, yoga studio, children’s play area and splash pool, and lounge bar.

Sameh Muhtadi, CEO of RAK Properties, said: “Mirasol is a key component of our AED5 billion 2025 residential development launch pipeline. Combining this with our plans to create new amenities within Mina – the yacht club, wharf, marina boulevard, and multiple beach clubs – our transformation agenda is clear for everyone to see.”

Connecting the yacht club and wharf is Mina Boulevard – a vibrant, dynamic, walkable, shopping and dining destination which will transform Raha Island into a lively social hub.

Mina will feature a combination of community and destination retail experiences spread across 137 outlets and a combined 23,000 sq m of net leasable area.

Notable properties include the ultra-luxury NB Collection and two operational luxury hotels — InterContinental Ras Al Khaimah Mina Resort & Spa and Anantara Mina Ras Al Khaimah Resort. To complement the current portfolio of established hospitality brands on Mina, RAK Properties is set to announce major luxury hotel partnerships within the quarter.