Dubai: Dubai Investments is expanding its reach – it has acquired land in Ras Al Khaimah for a Dh1 billion mixed-use residential and resort project.
“Ras Al Khaimah is fast gaining traction as a hub for tourism in the region with the emirate’s government channelizing resources and investing in a range of wellness initiatives to leverage its natural assets,” said Khalid Bin Kalban, Vice-Chairman & CEO, Dubai Investments. “The company is optimistic this new project will further accentuate the well-being appeal, providing a comfortable lifestyle seamlessly integrated with nature.”
Marjan, the master developer in RAK that owns some of the most desirable beachfront locations in the emirate, sold the land. There are already multiple hotels on Al Marjan Island.
Dubai Investments’ venture will be located at the “heart of Al Marjan Island” on View Island. The project is designed to provide a private enclave with waterfront views.
With its tourism investments set to triple in the next two years, Ras Al Khaimah believes it has the best chance of bouncing back from a pandemic-induced lag.