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This comes a day after hundreds of pagers owned by Hezbollah members detonated simultaneously injuring thousands
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RAKIA Continues Works on Al Marjan Island in Full Swing
RAS AL KHAIMAH — Ras Al Khaimah Investment Authority (RAKIA) said on Thursday that the infrastructure work on Al Marjan Island, the first man-made island in the emirate, is progressing at a good pace.
RAKIA provides investment opportunities and one-stop solutions in its Free Zones, Industrial Parks and Offshore facilities as well as in Real Estate developments and other ventures.
Phase I of the infrastructure, which consists of the Peninsula, Island No. 1 and Island No. 2, was awarded to Kumho Industrial from South Korea, who started working in September 2008. Phase II of the infrastructure, which comprises Islands No. 3 and 4, was awarded to the Italian contractor Rizzani De Eccher, who started mobilisation in November 2009. Their contract foresees completion of all activities within 20 months. By the same time the roads, street lighting and channel crossings for both Phases will be completed as well.
Dr. Fawzi Shadid, Project Director, Rakeen — the appointed Project Management for Al Marjan Island — stated: “We have finalised approx. 80 per cent of infrastructure services such as Potable Water System, Storm Water System, Irrigation System, Risingmain System and Vacuum System. By the time the first developers on the island complete their projects, all the infrastructure facilities will be available for a hook-up with their developments.” Dr. Khater Massaad, CEO, RAKIA, said: “Al Marjan Island is a unique investment opportunity that offers everything an investor can wish for: An excellent location alongside kilometres of beautiful white sandy beaches and in 5 minutes driving distance to the major industries of RAKIA’s Free Zone, surrounded by 5- and 7-star hotels of international standard, an 18-hole golf course and the completed Al Hamra Village with all its greeneries and amenities, including Al Hamra Mall with comprehensive retail & dining facilities and general services.
Developers on Al Marjan Island will enjoy 100 per centfree hold ownership and construction regulations with a maximum of flexibility and service. Be it a commercial, residential or mixed-use property, a hotel, an office tower, a mall or a private villa – all feasible projects are welcome on Al Marjan Island, as long as they will blend in the community we want to bring together.
Al Marjan Island was created with a vision to redefine the lifestyle in the beautiful and vibrant emirate of Ras Al Khaimah, where the luxury of living on an island is affordable and within reach.
This iconic landmark will provide a work-life-balance unrivalled in the UAE that will combine peaceful island living with all facilities within a self-contained community and abundant employment opportunities only minutes of driving away. Al Marjan Island will truly be a piece of paradise, and we welcome anybody who is interested in becoming a part of it.”
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