BNW Developments Forms $272M Alliance with Masah for Aqua Arc in RAK

In a landmark partnership set to redefine ultra-luxury waterfront living in the UAE, BNW Developments has appointed MAN Construction, a subsidiary of Masah Group, as the principal construction partner for its flagship project, Aqua Arc, located on Al Marjan Island. The agreement, valued at over $272 million (AED 1 billion), marks the beginning of a long-term collaboration between two regional powerhouses, with more ambitious projects on the horizon.

Strategic Alliance Between Industry Leaders

This alliance brings together BNW, the fastest-growing private developer in Ras Al Khaimah with a bold portfolio exceeding $6 billion (AED 22 billion), and Masah, a Tier 1 contracting giant renowned across the GCC for its execution of complex, high-value developments in healthcare, infrastructure, and aviation.

The signing ceremony saw senior leadership from both sides in attendance, reflecting the strategic weight of the partnership. Representing Masah were:

• Mohammed Abdul Nayeem, Chairman of Masah Holdings & MAN Construction
• Sheikh Mohammed Bin Sulaiman Alhabib, Vice Chairman
• Althaf Kazi, CEO & Managing Partner of MAN Specialized Contracting
• Mirza Naseem Beg, CEO & Managing Partner of Alpha Metals
• Mohammed Misbah, Advisor to the Chairman

From BNW:

• Ankur Aggarwal, Chairman & Founder
• Vivek Anand Oberoi, Managing Director & Co-founder

Masah: Building Landmark Legacies

Masah has delivered many of the region’s most ambitious projects, including Ajdan Rise, Sulaiman Al Habib Hospitals, and the Red Sea Global Terminal at Red Sea International Airport. Behind this legacy stands Dr. Sulaiman Al Habib, a pioneering figure in GCC healthcare and infrastructure. His son, Sheikh Mohammed Bin Sulaiman Alhabib, continues this legacy by fostering world-class, cross-border collaborations.

Mohammed Abdul Nayeem, who was recently ranked among the top 25 in Construction Week Middle East’s Power 150, has led Masah’s growth across key verticals including hospitality, aviation, and healthcare.

“Partnering with BNW Developments for Aqua Arc is a proud milestone for Masah. We see this as a symbol of a shared vision to create landmark communities that reflect global standards and regional character,”, Mohammed Abdul Nayeem, Chairman, Masah Holdings & MAN Construction.

Aqua Arc: Vision Meets Execution

Nestled on the pristine shores of Al Marjan Island, Aqua Arc is one of BNW’s most anticipated developments, offering a blend of architectural innovation and sea-facing elegance. With Masah onboard, the project benefits from unmatched technical expertise and executional confidence.

“At BNW, we’ve always believed that design vision means little without executional brilliance. Aqua Arc demands nothing short of mastery, and with Masah, we’re confident that’s exactly what we’ll achieve,”, Ankur Aggarwal, Chairman & Founder, BNW Developments.

“Masah isn’t just a contractor, they’re craftsmen of scale. Their consistency in delivering high-performance projects aligns perfectly with our ambition to create globally relevant residential landmarks,”, Vivek Anand Oberoi, Managing Director & Co-founder, BNW Developments.

Expansion and Long-Term Impact

The partnership not only enables the timely delivery of Aqua Arc but also strengthens BNW’s operational resilience and governance capabilities, paving the way for sustainable regional expansion. BNW’s next major milestone is its anticipated entry into Saudi Arabia by 2026, where it aims to replicate its success on a larger scale.

With the institutional strength of Masah and the leadership legacies behind both companies, this alliance marks a pivotal step in shaping the future of luxury real estate in the Middle East.