Bab Al Bahr bids to roll out as Rakeen plans Al Marjan
Piling and shoring contracts due in three months, with main contract set for the end of the year.
Bids for the main construction package for Rakeen's US $327 million (AED1.2 billion) Bab Al Bahr resort in Ras Al Khaimah will be invited early next year, while tenders for the piling and shoring contract will be sent out within the next three months.
Bab Al Bahr will be the first project to be developed by Rakeen on Al Marjan Island, the man-made coral-shaped atoll being built to extend 4km into the Arabian Gulf.
"Construction on the project will begin in the next six months and is expected to be completed in 2009. We will invite bids for the main construction package at the beginning of next year," said Wahid Attala, CEO, Spectrum Consultants, the official consultant on the project.
Five residential buildings, incorporating 710 residential freehold apartments, are earmarked for construction, including 110 studio apartments, 300 one-bedroom apartments, 220 two-bedroom apartments and 90 three-bedroom apartments.
Bab Al Bahr will also encompass a 290-room, four-star hotel incorporating 120 time-share apartments, in addition to a 25-storey Bab Al Bahr retail and office tower.
"We will work closely with Rakeen to create a modern day haven, combining top of the line luxuries with the grace of nature to generate the ideal home in an idyllic island lifestyle. We are also committed to upholding Rakeen's responsible development methods, as Bab Al Bahr is the ultimate eco-friendly development and promotes clean, energy-efficient and pollution-free living," said Attala.
Rakeen is a private joint stock company established in 2006 to support the development of Ras Al Khaimah's real estate and property development sectors. Rakeen has slated additional projects for completion in the near future, including an exhibition and convention centre, offshore financial districts and new urban developments.