Dubai Investments signs deal to develop $272m project in Ras Al Khaimah – The National

Dubai Investments signs deal to develop $272m project in Ras Al Khaimah – The National

Dubai Investments signed an agreement with Ras Al Khaimah-based master developer Marjan to acquire land to develop a Dh1 billion ($272.2 million) mixed-use waterfront destination on Al Marjan Island.

The project will include a beachfront resort, serviced apartments and villas plus residential buildings, retail, food and beverage outlets along with other recreational amenities, the listed investment holding company said in a statement to the Dubai Financial Market, where its shares are traded.

The agreement was signed by Khalid bin Kalban, vice chairman and chief executive of Dubai Investments, and Abdulla Al Abdooli, chief executive of Marjan.