Emaar to build mixed-use projects in Ras Al-Khaimah

Dubai developer Emaar Properties PJSC has signed a deal with Al Marjan Island to develop mixed-use projects, including luxury residential, hospitality, and retail components in Ras Al Khaimah, the company said in a statement.

Al Marjan Island has a development value of over $1.8 billion with 1,500 operational hotel keys and more than 2,000 residential units. Al Marjan is considered a tourist attraction in the Ras Al Khaimah emirate.

“Through the agreement, we will create a new magnet for investments in the tourism, hospitality and retail sectors supporting the vision of the government to boost the tourism sector and create jobs,” Emaar Properties chairman Mohamed Alabbar said. “Al Marjan Island has several unique features, including its spectacular location, which will appeal to investors from across the world.”

Emaar did not mention a value for the contract in the statement.