Sunday, July 12, 2009

Luxury resort-inspired housing complex of Al Marjan Island completes foundation and piling works

Luxury resort-inspired housing complex of Al Marjan Island completes foundation and piling works

AED 400 million Marbella Bay offers modern waterfront lifestyle in a verdantly landscaped community

July 12, 2009
Manazil Real Estate has announced the recent completion of piling works, load tests, foundations and basement of Marbella Bay, a luxury resort development on Al Marjan Island, the first-of-its-kind man-made island in Ras Al Khaimah. The property units of the project have a combined value of approx. AED 400 million. Manazil has further revealed that it has closely coordinated with Ras Al Khaimah Investment Authority (RAKIA), the government body responsible for the socioeconomic growth of the emirate, for the smooth and safe development of the project and on-time delivery of property units to the customers.

Designed to be one of the finest resorts in the UAE, Marbella Bay comprises luxurious waterfront apartments and a range of leisure facilities in a verdantly landscaped community inspired by the architectural style of the historic Spanish region of Andalusia. Manazil has awarded the construction contract of the project to Nasria Construction Company, which is now working on the project's second parking floor and has completed a furnished mock-up flat at the site, providing customers a preview of the size and type of finish of their future residence. Manazil further revealed that various property units of the project have been sold for a combined total of AED 250 million.

Eng. Yehia Kambris, General Manager, RAKIA RERA said, "RAKIA has been closely monitoring the progress of the entire development as well as other projects being constructed on Al Marjan Island. We are also making sure that all developers comply with the escrow account regulations, and that development projects are constructed according to RAKIA's strict building regulations. Furthermore, we are closely working with Manazil and the rest of the stakeholders of Al Marjan Island to make sure that construction work on the different property developments progress smoothly and harmoniously. RAKIA is making this one of our top priorities as part of our efforts to reassure investors and safeguard their interest."

Eng. Abdul Mohsen Al Hammadi, CEO, Manazil Real Estate said: "We have achieved great progress in the construction work of Marbella Bay as RAKIA has provided critical strategic support that has contributed significantly to the healthy pace of development. We are very optimistic of the excellent prospects of this project as Marbella Bay is poised to emerge as one of the most exciting island-inspired residential destinations in the region."

Marbella Bay will encompass a total area of around 500,000 square feet. Only about 60 per cent of the project site's total land area has been used for the buildings, with the remaining space dedicated to communal parks, swimming pools and lakes. The project consists of a ground floor, two floors dedicated for car parking, and seven floors dedicated for a combined total of 430 residential and commercial units.

Marbella Bay will feature cafes, retail shopping and sea food restaurants overlooking the Arabian Gulf, and will also be equipped with separate health club facilities for men and women, outdoor and indoor swimming pools with temperature control facilities, multi-purpose halls equipped with TV, free internet access, billiard and snooker tables; children playing areas equipped with TV monitoring systems with full parental access in the apartments; a fully serviced mosque; a range of water activities such as fishing, scuba diving, jet skiing and boat trips; and 24-hour security and maintenance services.

Al Marjan Island is a pioneering development project that effectively extends the emirate's coastline by an additional 21 kilometres. Reaching some 4.5 kilometres into the sea, Al Marjan Island will feature a range of residential developments, hotels, resorts, recreational facilities and commercial and retail amenities.

No comments:

Post a Comment

Blog Widget by LinkWithin