Major Developers, the leading real estate developer in the UAE, announces that its project, Manta Bay, has won the Arabian Property Award in the category of the Best Apartment/Condominium Development for Ras Al Khaimah. The official award presentation was held recently at the Habtoor Grand Resort Hotel in Dubai to celebrate excellence in real estate across the region.
On the occasion, Andrei Charapenak, CEO of Major Developers, said, “We are deeply honoured to receive this prestigious recognition for Manta Bay. This award reflects the dedication of our team to crafting a development that truly embodies the essence of luxury living in Ras Al Khaimah. Manta Bay is a milestone for Major Developers as it reflects our commitment to innovation and excellence.”
He added: “The project has garnered exceptional interest, reflecting the strong demand for high-quality residential developments in Ras Al Khaimah. With the Emirate’s population projected to grow exponentially by 2030, driven by rising tourism and a flourishing real estate market, the project aligns perfectly with the increasing need for upscale residential properties. Additionally, RAK’s hospitality market is experiencing unprecedented growth underscoring the strategic importance of developments like Manta Bay in attracting investors and end-users alike.”
The Arabian Property Awards, now in their 31st year, are recognized as the largest and most esteemed real estate accolades in the industry. Judged by an independent panel of over 100 industry experts, the awards emphasize design, quality, service, innovation, originality, and sustainability. Winning this category underscores Manta Bay’s status as a transformative development in Ras Al Khaimah’s luxury real estate sector.
Manta Bay, a landmark AED 1 billion development on Al Marjan Island, showcases striking architecture inspired by the manta ray. Strategically located on Al Marjan Island, the project offers a unique blend of luxury and sustainability. As part of Ras Al Khaimah’s rapidly growing real estate market, projected to meet an additional demand for 45,500 high-quality residential units by 2030, the development capitalizes on its panoramic sea views and innovative amenities.
This recognition comes as Ras Al Khaimah’s real estate sector experiences strong growth, with transactions rising by 15% in 2024. Manta Bay plays a key role in this growth, attracting high-net-worth individuals and global investors to the emirate’s luxury property market.
