Tenders for US $1.3bn RAK hotel to go out this October

Bids for the main construction package of a US $1.3 billion (AED4.78 billion) hotel resort will be invited at the end of October by UK-based ACW Holdings.

OCTOBER WIN: Construction work will begin this December and be completed by 2011.
OCTOBER WIN: Construction work will begin this December and be completed by 2011.

Bids for the main construction package of a US $1.3 billion (AED4.78 billion) hotel resort will be invited at the end of October by UK-based ACW Holdings.

An award can be expected by mid-December. The 1350-room hotel will be built on Al Marjan Island, Ras Al Khaimah (RAK).

Construction is scheduled to begin in December, and is expected to be completed by September 2011. ACW Holdings is also planning two further 17-storey developments for Ajman.

Both projects go out to tender at the start of next year.

There is no construction timetable in place at present, according to ACW Holdings general manager Ian Pask.

"We have architectural drawings of the new developments. We've really just been finalising things over the last week," said Pask.

Pask spoke to Construction Week at the launch of ACW's latest development, Platinum Two, a residential and serviced apartment's project in the Arjan district of Dubailand.

The $54.5 million, 254-room apartment building will be constructed by Haqqani.

Al Hawraa Engineering Consultants is the consultant, project manager and architect for the project.

The building is marketed on the back of potential investor returns of up to 45% per year through a pooling system. Return is based upon the area owned.

The figure is based partly on the number of tourists visiting Dubai reaching a predicted 15 million annually by 2010.

Tourism is expected to grow by 7.1% year on year until 2020, against a global average of 4.1%, according to figures presented by ACW at the launch.

Al Marjan Island is a $1.8 billion reclaimed island project covering 2.7 million m2 in the south-west of RAK. It is RAK's first man-made island project, aimed at the tourism, leisure and high-end residential markets.

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