Privately-owned, Ras al-Khaimah-based Al-Hamra Real Estate Development Companyis developing an AED 1,000 million ($270 million) tourist resort, one of a number of schemes in the emirate to attract tourists and long-term residents.The complex will be located near the existing Al-Hamra Fort Hotel, on the coast south of Ras al-Khaimah town. On completion, scheduled for 2006, the resort will comprise 1,300 residential units, a five-star hotel, a three-star hotel, a marina, an 18-hole golf course and other leisure facilities. About 350 units have already been sold. The properties are the first in Ras al-Khaimah to be open for sale to expatriates on an unencumbered freehold basis. The masterplan for the resort was developed by Design & Architecture Bureau (DAR)of Dubai and the UK’s Maunsellis the infrastructure consultant. In January, the government of Ras al-Khaimah launched an architectural competition to design a number of hotels and resorts, following its approval of a tourism masterplan in 2003 (MEED 23:1:04).