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Sat 23 May 2015 01:14 AM

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RAK Properties awards contract for marina construction

Majestic Jetties & Marinas wins deal to build phase 1 of marina project at Mina Al Arab development

RAK Properties awards contract for marina construction
Construction at the Mina Al Arab development.

RAK Properties, one of the biggest property developers listed on the Abu Dhabi Stock Exchange, has announced that it has awarded a contract for the construction of phase 1 of its lifestyle marina at Mina Al Arab.

The marina, which will be located at the centre of the Lagoon Walk, will provide long-term berthing for recreational vessels that area up to 25 metres in length and will be built by Majestic Jetties & Marinas.

When complete in the fourth quarter of 2015, the marina aims to further boost the appeal of Mina Al Arab, a mixed-use development along the coastline of Ras Al Khaimah being developed by RAK Properties.

Mohammed Sultan Al Qadi, managing director and 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, according to RAK Properties, is seeing growing interest from retail and F&B outlets.

RAK Properties launched Mina Al Arab - spread over 43 million sq ft at a cost of AED10 Billion ($2.72 billion) - in May 2006.

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