Bay Residences: Getting into RAK's Waterfront for 5% Down
Bay Residences is a residential project by RAK Properties on Hayat Island, within the Mina Al Arab master community in Ras Al Khaimah. Tower 4 delivers the building's mix of apartments and duplexes, priced from AED 680,000 for a studio to AED 2,600,000 for a three-bedroom apartment.
5% Down, 60% After Keys
The down payment is 5%. At AED 680,000 entry, that is roughly AED 34,000 upfront. At AED 1,120,000 for a one-bedroom, the initial commitment rises to AED 56,000. A further 25% is paid during construction, 10% at handover, and 60% comes post-handover.
| Phase | % |
|---|---|
| Down payment | 5% |
| During construction | 25% |
| Handover | 10% |
| Post-handover | 60% |
Total paid before receiving keys: 30%. The 60% post-handover portion is the defining feature of this structure: the bulk of the financial obligation sits after possession. For investors planning to let the unit after handover, rental income and post-handover payments run in parallel. How much of that 60% rental proceeds can absorb depends on unit type, achievable rent, and the repayment intervals within the schedule.
Hayat Island and What the Location Delivers
Mina Al Arab is RAK Properties' waterfront master community in Ras Al Khaimah. Hayat Island sits within it as a dedicated residential island with direct water frontage. The project is built on the water, not near it, and the amenity list confirms this: water views and landmark views are both explicitly listed features.
Dubai is approximately 45 to 60 minutes by road from this location. A buyer commuting to Dubai daily carries that leg each way. For a lifestyle buyer or an investor whose priority is the waterfront address in a lower-cost emirate, the distance is a secondary consideration. The building also lists onsite restaurants as an amenity, which covers routine convenience without leaving the development.
AED 680K to AED 2.6M: Who Sits at Each Level
Studios start at AED 680,000, ranging from 365 sq ft to just over 600 sq ft. These are compact units. The buyer here is focused on cost of entry above all else.
One-bedroom apartments open at AED 1,120,000, with a notable size spread within the tier: from 755 sq ft up to 1,502 sq ft across different layouts, all at the same base price. The size difference between the smallest and largest one-bedroom is substantial.
Two-bedroom apartments begin at AED 1,550,000, running from 1,194 sq ft to 1,668 sq ft. Three-bedroom apartments top the standard range at AED 2,600,000 for 1,808 sq ft.
The duplexes sit apart: 3-bedroom units at 3,358 sq ft and 3,638 sq ft, considerably larger than any apartment in the building.
What 24 Amenities Signal About This Building
| Wellness and Leisure | In-Unit Features | Services |
|---|---|---|
| Health Club | Private Pool | Concierge |
| Shared Pool | Private Gym | Maid Service |
| Shared Spa | Private Jacuzzi | Security |
| Shared Gym | Private Garden | Covered Parking |
| Children's Play Area | Balcony | Central A/C |
| Restaurants | Walk-in Closet | Kitchen Appliances |
| Study | Maids Room |
The defining feature of this list is the split between private and shared versions of the same amenity: private pools alongside a shared pool, a private gym alongside the health club and shared gym. This dual structure means residents in different unit types have fundamentally different experiences. The private amenity packages most likely attach to the duplexes, while apartment buyers draw on the communal facilities.
Maid service, a maids room, and concierge position this as a managed, service-forward building. Pets are permitted. A study is included for residents who work from home.
Timeline
Construction on Bay Residences began in November 2022. The expected completion was November 2025, which has now passed. Buyers considering this project today are most likely looking at a building at or past the original handover milestone.