Raincrest Residence is a real estate development undertaken by Rainbow Singhal Developers Pvt Ltd, a joint venture company formed by Rainbow Construction Pvt Ltd and Singhal Engineering Maldives Pvt Ltd (a subsidiary of Singhal Engineering, India) both reputed developers in their countries of origin. Located on Reethigas Magu, Hulhumale, which is considered as the spine of residential and commercial buildings in the island, Raincrest Residence is a mixed use residential condominium, composed of two 14 storey towers consisting of 136 apartments. The building is conveniently located to face three main roads as well as a pedestrian link, meaning that it does not share a boundary with any other plots, a rare feature in the City.