Rakeen to reclaim second island for Dh2bn

Rakeen, the real estate development arm of the Ras Al Khaimah Government, has launched Dana Island, its second reclaimed island project after Al Marjan Island, with the aim to transform the emirate into a full-fledged tourist destination, a senior executive said.

"Construction work on Dh2 billion Dana Island will commence in the next 15 days. The development is expected to be completed in the next 30 months," Wahid Attalla, member of the board, Rakeen, told Emirates Business.

Dredging International, a principal operating company of the Belgian Antwerp-based Dredging, Environmental and Marine Engineering Group, has been awarded the contract for the reclamation work. Dana Island, which is expected to accommodate 250,000 people, will have several hotels, and commercial and residential complexes. It will extend seven kilometres into the sea and will create an estimated 53 kilometres of new shoreline in Ras Al Khaimah.

Al Marjan project, which was launched in October 2007, is a cluster of five coral-shaped islands extending more than 2.7 million square metres and will consist of waterfront homes, floating villas, hotels, resorts, sporting facilities and commercial areas.

Rakeen has appointed the international consultant COWI to carry out an environmental impact assessment for the project and an environmental management and monitoring plan is being implemented during the construction phase.

When asked about power and sewage issues faced by Northern emirates, Attalla said that the RAK Government was working on "solutions" and will announce the plan when it is completed. The island, however, will not have captive power plants and will rely on the government for power supply.

Sand required for the construction will be sourced offshore, while rocks will be sourced from various quarries from the emirate.

Rakeen, which has launched projects worth $6bn (Dh22bn) till date, is not ruling launching a similar concept overseas. "We are looking at all the options, but we haven't decided on anything," Attalla added.

Currently, Rakeen is working on projects such as the RAK Financial City, Gateway City, RAK Convention Centre, Azure Hotel, Jabel Al Jais and Banyan Tree Resort in RAK. It is also developing extensive mixed-use projects internationally such as Isfahan, Iran among others.

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