The government of Ras al-Khaimah has established a new real estate company to develop projects in the emirate. Rakeen Development will develop projects across the emirate including Al-Marjan island and a mixed-use development off Emirates road that will include an exhibition and convention centre (MEED 3:6:05).
The 3.8-square-kilometre Al-Marjan island development will be built on a 2-kilometre strip of reclaimed land extending into the Gulf in southern Ras al-Khaimah. The project will have a central lagoon and will involve the construction of 10 hotels, a marina and luxury villas with a total built-up area of about 2 million square metres.'The filling is ready and construction will start in September,' Rakeen chairman Khater Massaad told MEED on 16 August. The UK's Halcrow prepared the masterplan and is the marine and infrastructure consultant.On Emirates road, Rakeen will develop an exhibition and convention centre as part of the proposed Gateway City on the Umm al-Qaiwain border. The project also comprises business hotels with a total of 3,000-4,000 rooms, a 50,000-square-metre shopping mall, office complexes and apartments. Netherlands-based Office for Metropolitan Architecture (OMA) and Norway's Snohetta are the architects.The company is planning other projects in the remote areas of Ras al-Khaimah and will look to invest overseas.