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Dubai: A Dh2 billion residential and resort complex along the Ras Al Khaimah coast yesterday revealed a new masterplan and opened a section of its island-bound units for sale to investors.
Saraya Islands, a development by Jordan-based Saraya Holdings, is dividing a 5.5 kilometre natural island into four smaller islands for a low-density hotel and residential complex with most buildings between four to eight storeys in height.
Residential units on the RAK mainland called the Village will connect to the islands via auto and pedestrian bridges.
"What we've done today is taken that masterplan and developed it and enhanced it," Mahdhar Al Tamimi, general manager of Saraya Islands, told Gulf News. "There is more connectivity for people to have active lifestyles." Some of these measures include building a marina deepening the lagoon by several meters, he said.
Saraya, which specialises in developing untapped locations, is making available the first of four islands and the village. Overall, the project will have 4,000 residential units, 35,000 square metres of retail space, and six hotels with 1,650 rooms.
The first phase of the project is expected to be ready in 2010 or 2011. Simultaneously, the Ras Al Khaimah government is also planning a redevelopment program to improve roads and infrastructure and hopes to attract niche businesses to the northern emirate.
Time-frame
The entire project is expected to seven to eight years to complete and will be geared to foreigners seeking second homes as well as fulltime UAE residents seeking active lifestyles, including commuters working in Dubai.
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