Dubai – Mubasher: Emaar Group has launched Address Al Marjan Island hotel and residences in Al Marjan Island to be managed by Emaar Hospitality Group.
Address Al Marjan Island Hotel will comprise 249 rooms including suites, while Address Al Marjan Island Residences is planned to incorporate 234 high-end apartments, according to a company statement released on Wednesday.
“Emaar's proven strengths in mixed-use developments will add significant value to Al Marjan Island with the Address hotel to contribute to our emirate’s tourism sector,” Al Marjan Island’s chairman Sheikh Khalid bin Saud Al Qasimi said.
In December 2016, Emaar Properties inked an agreement with Al Marjan Island (AMI) to develop 2 million square feet mixed-use projects.
“With its positive economic growth and focus on strengthening the tourism and investment landscape, Ras Al Khaimah has recorded robust growth in visitor arrivals and in attracting inward investments,” Emaar Properties’ chairman Mohamed Alabbar commented.
The Dubai-listed company did not reveal the deal’s value.
Planned to be a tourism and leisure hub, Al Marjan Island is a cluster of four coral-shaped islands house a development value of over AED 6.61 billion ($1.8 billion) with 1,500 operational hotel keys and over 2,000 residential units.
