THE UAE's Northern Emirates namely Sharjah, Ras AI Khaimah, Ajman, Umm AI Quwain, and Fujairah-have witnessed significant transformation in recent years, driven primarily by strategic development initiatives such as investment-friendly policies, long-term visas for property buyers and investors, and public-private partnerships. This transformation has had a profound impact on the real estate and construction sectors.
Real estate development has emerged as a key pillar of their diversification strategy. This fact is most apparent in Ras AI Khaimah, which is described as 'the rising star of the UAE real estate market'. The trailblazer in this was the announcement in January 2022 of the establishment of the $3.9-billion Wynn Resort AI Marjan, which is expected to be the first integrated resort in the Middle East and North Africa (Mena) region.
Since then, the once-sleepy Ras AI Khaimah has seen numerous local, regional and international developers confirming interest in setting up residential, hospitality and mixed-use developments in the emirate, with AI Marjan island - which will host the Wynn gaming resort - being the host of many of these developments.
AI Marjan island, which covers an area of almost 62 hectares and offers spectacular views of the Arabian Gulf, is now set to host a myriad of projects ranging from branded Tonino Lamborghini and Elie Saab homes to luxury residential apartments that boast the highest beach in the world.
Diese Geschichte stammt aus der November 2024-Ausgabe von Gulf Construction.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der November 2024-Ausgabe von Gulf Construction.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Cityscape Global nets $61bn realty deals
Global confirmed its position as the largest real estate exhibition in the world, bringing down the curtain on its second edition at the Riyadh Exhibition and Convention Center last month by revealing a staggering SR230 billion ($61.3 billion) in real estate transactions across the four-day show. This total, organisers say, underlines how “Saudi Arabia is now a global hub for real estate”.
Kleindienst reveals $6bn plan for 5,000 Dubai rooms
Group, a leading global business conglomerate and the master developer behind The Heart of Europe on Dubai’s World Islands, has announced a major expansion that will see the addition of 5,000 five-star hotel rooms to Dubai’s hospitality sector.
Adnoc JV awards $2bn EPC deals for petchem project
TA’ZIZ, a joint venture between key Emirati entities Abu Dhabi National Oil Company (Adnoc) and ADQ, has awarded engineering, procurement and construction (EPC) contracts worth over $2 billion for the development of essential site infrastructure to advance the Ta’ziz chemicals and transition fuels ecosystem under development in Al Ruwais Industrial City, Al Dhafra Region of Abu Dhabi.
Damac Properties unveils sixth master community
Properties, UAE’s leading property developer, has announced the launch of its third and largest master community – Damac Islands – unveiled this year and the sixth in its portfolio of master development projects.
Dubai's $4.36bn roads plan to cover 22 projects
AED16-billion ($4.36 billion) 2024-2027 Main Roads Development Plan will add 22 projects across the emirate’s expanding road network, benefiting over six million people and supporting Dubai’s comprehensive development plans, it has been revealed.
Wynn's RAK resort project on track for 2025 completion
Resorts Limited has announced that work was moving at a steady pace on its newest resort-Wynn AI Marjan Island - coming up in Ras AI Khaimah with 55 per cent of the structural concrete work completed.
Nakheel marks milestones at Palm Jebel Ali project
NAKHEEL has announced the release of its latest luxury residences at Palm Jebel Ali: The Beach Collection - an exclusive collection of bespoke beach villas.
NHC to build 10,000 new residential units in Riyadh
Arabia's National Housing Company (NHC) has announced the launch of 11 key residential projects in the Khuzam area of capital Riyadh featuring over 10,000 units ranging from luxurious villas to contemporary apartments - thus catering to different clients' needs.
Tilal unveils $1.6bn luxury development in AI Khobar
Real Estates, a leading real estate company in Saudi Arabia, has unveiled its premium mixed-use project - Heart of Khobar (HOK) which will come up in the Eastern Province at an investment of SR6 billion ($1.63 billion).
Global firms to set up factories at Spark
THREE global groups - MAN Industries and Thermocables (both from India) and Hong Kong-based Dalipal Holdings - have signed agreements with King Salman Energy Park (Spark) to set up steel pipes and cable manufacturing facilities within the mega industrial development in the Eastern Province of Saudi Arabia.
