The new marina, which will be located in the center of the Lagoon Walk, will provide long-term berthing for recreational vessels up to 25 meters in length
RAK Properties PJSC, one of the biggest property developers listed on the Abu Dhabi Stock Exchange, has announced that it has awarded a contract to Majestic Jetties & Marinas for the construction of Phase 1 of its lifestyle marina at Mina Al Arab. The marina, which will be located in the center of the Lagoon Walk, will provide long-term berthing for recreational vessels that are up to 25 meters in length. When complete in Q42015, the marina will further boost the appeal of Mina Al Arab, a mixed-use development along the coastline of Ras Al Khaimah that is regarded as one of the most prominent projects in the Northern Emirates.
Mohammed Sultan Al Qadi, Managing Director &CEO of RAK Properties, said, “We are pleased to award this contract to Majestic Jetties & Marinas, which has an excellent track record of constructing marinas across the UAE. A world-class waterfront development such as Mina Al Arab which has lifestyle living at its core, would undoubtedly require top-notch berthing facilities for recreational vessels, and we are glad that the construction of the new marina will commence soon.”
The marina is expected to significantly drive visitor footfall to the Lagoon Walk which is seeing growing interest from retail and F & B outlets. RAK Properties revealed that a new marina office facility will also be set up.
RAK Properties, a Public Joint Stock Company listed on the Abu Dhabi Securities Market, is a real estate development company established to implement the emirate’s plans to promote real estate, tourism and leisure facilities in RAK and invest in interesting projects. It is intended that its activities will encourage economic growth in the UAE in general and Ras Al Khaimah in particular. The company launched its first project, Julfar Towers –a 45-storied twin office and residential project at a cost of AED 500 million –in February 2006 followed by Mina Al Arab –spread over 43 million sq. feet at a cost of AED 10 Billion –in May 2006. It also launched RAK Tower in Abu Dhabi at Cityscape Dubai.