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Dubai Investments to create billion dirham development in RAK

Dubai Investments to create billion dirham development in RAK

Agreement signed for open mixed-use beachfront resort and residential development on Al Marjan Island Dubai Investments has signed a deal to create a AED1 billion ($272m) open mixed-use beachfront resort and residential development on Al Marjan Island. The agreement with Marjan, the master developer of freehold properties in Ras Al Khaimah, will include a mix

Agreement signed for open mixed-use beachfront resort and residential development on Al Marjan Island

Dubai Investments has signed a deal to create a AED1 billion ($272m) open mixed-use beachfront resort and residential development on Al Marjan Island.

The agreement with Marjan, the master developer of freehold properties in Ras Al Khaimah, will include a mix of hospitality and residential elements, including beachfront serviced apartments and villas, waterfront residential buildings, retail and F&B components along with other recreational facilities.

Khalid Bin Kalban, vice chairman and CEO, Dubai Investments, said: “Dubai Investments is excited about this new venture as we believe Ras Al Khaimah (RAK) is fast gaining traction as a hub for tourism in the region with the emirate’s government channelising resources and investing in a range of wellness initiatives to leverage its natural assets.”

The development will be situated on the View Island at the heart of Al Marjan Island.

“Al Marjan Island has become a preferred hub for visitors and investors from around the globe and we are looking forward to expanding our offering through world-class projects such as the one being developed by Dubai Investments,” added Eng. Abdulla Al Abdooli, CEO of Marjan.

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