An agreement was signed between 'Carl Lagerfeld' and 'Ark' to develop a new luxury residential project on the waterfront of Ras Al Khaimah, specifically on Coral Island, under the name 'Carl Lagerfeld Residences'. The project includes residential apartments ranging from one to four bedrooms. The project's value exceeds 5.14 billion dirhams (1.4 billion dollars) and is considered one of the largest luxury residential projects on the waterfront in the United Arab Emirates. It is scheduled for completion in 2028 and will feature 663 residential units with direct sea views.
