Rakeen Completes Reclamation Of $1b Rak Project

Rakeen, the real estate development arm of the Ras Al Khaimah government, on Monday said it had recently completed reclamation work on the $1 billion (Dh3.67 billion) Al Marjan island project - the first man-made island in the emirate, effectively expanding the emirate's coastline by an additional 21km. Rakeen also revealed that infrastructure work for the first phase of the 2.7 million-square-metre project was underway - covering water, electricity, district cooling, sewerage, storm water service drainage, telecommunication, roads, channel crossings and street lighting facilities. Phase One of the infrastructure works comprises the Peninsula, Island No 1 and Island No 2 of the four-island cluster. Rakeen is responsible for the reclamation and infrastructure works on Al Marjan island and is also developing Bab Al Bahr, the island's inaugural development project that will serve as a gateway to the integrated island community. Dr Fawzi Shadid, Infrastructure and Project Director at Rakeen said: "We have maintained the highest standards in all aspects of the project, and have adopted modern technology and pro-environment techniques that will distinguish Al Marjan island as an environmentally friendly business and residential destination in the region.

Moreover, our commitment to protect the interests of investors and stakeholders of the project is clearly manifested by Rakeen's timely completion of the project's reclamation work. Rakeen completed the reclamation work after fin-alising the sand filling and rock work on the third island in January. Reclamation works on Island No 2 and Island No 4 were completed in 2008. When Rakeen took over as master developer of Al Marjan island from the Public Works Department in May 2007, the Peninsula, Island No 1 and about 40 per cent of Island No 2 had been reclaimed. Construction of Bab Al Bahr is in full swing with the first residential buildings scheduled for handover in mid-2010. Bab Al Bahr is a mixed-use development comprising six residential buildings, an office and mall tower and a hotel. Other developments on Al Marjan island are also underway such as the Pacific by Select Group and the Marbella Bay by Manazel. Extending 4.5km into the sea, Al Marjan island will feature a wide range of residential developments.