Abu Dhabi – Mubasher: RAK Properties on Tuesday announced the launching of its new North Bay Residence Tower project in Hayat Island.

The new tower will be built over 39,000 square feet, the company said in a bourse statement, noting that the construction works would be over by 2020.

Mohammed Sultan Al Qadi, Managing Director and CEO of RAK Properties, had revealed earlier that the company had appropriated AED 3 billion to develop the “Hayat Island” project.