Tuesday, July 22, 2008

Stallion Properties launches Santorini development at RAK

Santorini Development in Ras Al Khaimah
Inline with its plans to raise the total portfolio of its projects to Dh.4.5bn in UAE, Stallion Properties launched Dh.1.2bn worth Greek-style development on Marjan Island in Ras Al Khaimah.

The Santorini development will include 560 units, spreading across an area of 463,000 Square Feet. The units will include Zeus villas, Aphrodite townhouses, Artemis luxury condos and Apollo condos, water bungalows, and five-star hotel.

Inspired by the iconic Greek archipelago, Santorini development offers residents the enjoyment of majestic romance of Greek island, together with the luxuries of Arabia.

Each property in the Santorini development comes with its own unique features. The Zues villas offer wonderful panoramic sea views with Jacuzzi on terrace and your own private infinity pool. The Aphrodite townhomes offer the luxury of serene views of a private lake, while the Apollo condos include duplexes and penthouses with Gymnasiums, pools, and podium parking. The Artemix luxury condos go further in offering private clubhouse, vas Jacuzzi, lap pool and children's wading pool.

The construction will commence in October this year, and will be complete in 2011. Stallion Properties has also entered into tie-up with Aspire Real Estate to help with sales and marketing of Santorini project.

The units at Santorini are sold in packages of seven, as the investors intend to make money from resales, with the cheapest package being available for around Dh.10mn.

The Marjan Island is a Dh.6.6bn project and is also one of the major developments in progress in Ras Al Khaimah. The mega-project is a mini archipelago, and includes five man-made islands spread across 2.7mn square meters. The Island is so designed that it stretches over two kilometers into the Gulf.

Stallion Properties also plans to launch two towers in Palm Jebel Ali at a cost of Dh.3bn, thereby increasing the portfolio of the company to around Dh.4.5bn.

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