The 3,623m2 development will be completed by 2020.
Comprising one-, two-, and three-bedroom apartments, as well as duplex units, the tower will be surrounded by amenities such as restaurants, shopping options, parks, walkways, and gardens.
Designs for the development’s one- and two-bedroom apartments focus on functionality and modernity.
The project’s three-bedroom apartments feature open spaces and spacious living areas.
Meanwhile, the duplex homes will offer high-end furnishings.
Commenting on the project, Mohammed Sultan Al Qadi, the managing director and chief executive officer of RAK Properties, said: “With the exponential market response to Hayat Island, Northbay Residence is continuing to attract investors.
“The development will leverage from our expertise of delivering vibrant and modern communities,” he added.
RAK Properties is developing the project in line with the UAE’s initiatives to attract visitors and tourists, Al Qadi said.
This September, the company unveiled Hayat Island, a 55.7ha mixed-use project that will feature food and beverage, shopping, and recreational offerings, in addition to hospitality and residential options, in Ras Al Khaimah.
Hayat Island‘s residential component comprises 2,457 apartments, split as 1,152 one-bedroom, 985 two-bedroom, and 320 three-bedroom units.
Townhouses and villas will also be developed as part of the project’s residential component.
A five-star InterContinental-branded hotel, featuring 351 rooms, will also be developed within the project, in addition to 200 serviced apartments, and two more hotels, according to a press statement by RAK Properties.
Commenting on the project, Al Qadi said: “Hayat Island is RAK Properties’ latest flagship project in the market and will be one of our distinctive developments.
“The property is set against a beach, which will make it the most sought after destination in years to come.”