Al-Marjan Island (AMI), claimed to be the first man-made island real estate project in Ras Al Khaimah, has signed as gold sponsor of the upcoming Cityscape Global, a global exhibition and conference for the real estate industry, which will be held from Sept. 8-10, at the Dubai International Convention and Exhibition Centre.
“We are delighted to be a gold sponsor of Cityscape Global. This new relationship reflects the dramatic growth experienced by Al Marjan Island, emerging as a magnet for local and foreign investors. There is global interest in AMI. We have been contacted by local, regional and international investors ready to make significant investments in hospitality and real estate projects on AMI,” said architect Abdullah Rashed Al-Abdooli, MD of Al-Marjan Island Company.
AMI will showcase a host of mixed developments that will reinforce RAK’s emerging role on the regional real estate map. “The aim is to create a haven of luxury and comfort, which will significantly boost the economic and tourist potential of Ras Al Khaimah. As can easily be imagined, the islands of Al-Marjan will be home to number of new hotels, villas, apartments, well-being centers, community facilities, a tourist port, restaurants, shops and lifestyle hotspots,” said Al-Abdooli, while noting the high levels of success reported by the existing five-star hotels on the island, such as the Rixos Bab Al-Bahr and the Al-Marjan Resort and Spa.
“At Cityscape Global 2015, we will highlight the new investment opportunities for all levels of investors across diverse sectors. We are confident that RAK’s ideal location spells attractive investment potential for hotels and other real-estate projects,” said Al-Abdooli.
AMI is a 2.7 million sqm cluster of four man-made islands in upscale Ras Al Khaimah that extends 4.5 km into the Gulf.
AMI signs as gold sponsor of Cityscape Global 2015
AMI signs as gold sponsor of Cityscape Global 2015
Sulaiman Al-Rajhi Endowment projects worth SR8bn launched in Makkah
Sulaiman Al-Rajhi Real Estate Company has announced the launch of several real estate projects belonging to the Sulaiman Al-Rajhi Endowment system in Makkah, with a total investment exceeding SR8 billion ($2.1 billion). These projects include commercial, residential, and hospitality developments, as well as strategic land plots, as part of the company’s commitment to supporting the Kingdom’s real estate sector and enhancing the quality of life in the holy city.
The announcement was made during a field tour by a delegation of high-level officials including Saleh Al-Rasheed, CEO of the Royal Commission for Makkah City and Holy Sites; Ihsan Bafakih, chairman of the board of directors of Sulaiman bin Abdulaziz Al-Rajhi Holding Company; Haitham Al-Fayez, chairman of Sulaiman Al-Rajhi Real Estate Company and CEO of Sulaiman Al-Rajhi Holding Company; Moath Al-Mukhudub, managing director and CEO of Sulaiman Al-Rajhi Real Estate Company; and Anas Mansour Abadi, CEO of real estate at Sulaiman Al-Rajhi Holding Company and representative of the Sulaiman Al-Rajhi Endowment, alongside members of the board of directors of both the holding and real estate companies and the executive team.
The tour included the launch of the Tilal Towers project, with an investment value of SR2 billion, featuring more than 2,500 hotel rooms, strengthening the hospitality sector in Makkah.
The delegation also visited the Tilal Village project, valued at SR2.8 billion. It is one of the prominent qualitative projects within the hospitality ecosystem in Makkah.
Furthermore, the visit covered the residential buildings within Tilal Village, comprising 828 units, with an investment of SR800 million. The delegation inspected the specialized hospital, medical complex housing, and the office and commercial plazas.
During the tour, a contract was signed for the Al-Rajhi Center project, valued at SR250 million, as part of a comprehensive rehabilitation plan.
The inspection also included the Al-Ukayshiyyah land, spanning 4 million square meters, and the Al-Ghazzawi project land, valued at SR250 million.
The tour concluded with prayers at the Aisha Al-Rajhi Mosque, the second-largest mosque in Makkah after the Grand Mosque, with a capacity for 50,000 worshippers.
This visit underscores the importance of these investments, which represent a clear direction toward enhancing the management of the endowment’s assets through diversification, redevelopment, and strategic expansion, in line with the development goals of the Makkah city and Saudi Vision 2030.
Sulaiman Al-Rajhi Real Estate, a subsidiary of Sulaiman bin Abdulaziz Al-Rajhi Holding Company, continues to provide innovative solutions to elevate the real estate sector to international standards.
