The UK developer Crowngate International will build a Dh200m upmarket resort on Al Marjan Island in RAK. It is the second such deal for the island this week. Courtesy WAM 





WAM
The UK developer Crowngate International will build a Dh200m upmarket resort on Al Marjan Island in RAK. It is the second such deal for the island this week. Courtesy WAM WAM

RAK’s Al Marjan Island lures another resort developer



Crowngate International, a UK-based property development company, has acquired a plot on Al Marjan Island in Ras Al Khaimah to develop a new upscale resort.

Valued at Dh220 million, the new property is scheduled to open in late 2019, the firm said.

“It is indeed a pleasure to welcome Crowngate International to the Al Marjan Island. Associating with them will not only add value to our island, but also position us as premium facilitators for world-class living and investments,” said architect Abdullah Al Abdooli, the managing director of Al Marjan Island (AMI) Company.

Joe McCormack, a founding partner at Crowngate International, said the resort would bring the firm global recognition. “It will also help us showcase our unrivalled expertise in developing luxury properties,” he added.

“In a very short period, Al Marjan Island has become a leading luxury lifestyle and tourist destination for visitors not just from the GCC, but internationally.”

Crowngate’s portfolio includes a commercial office development in Dubai, as well as luxury apartments and penthouses in the United Kingdom, predominantly in and around London.

The company’s acquisition is the second such this week. On Sunday, Novel, a diversified investment company from China, said it hasd signed an agreement with AMI) to take 720,000 square feet of land on the man-made island.

The project involves a mixed-use development hotel, a hotel apartment and retail and it targets global tourists and visitors, according to AMI. No financial details were given.

Headquartered in Shanghai, Novel International Group has a newly set up overseas Engineering Construction Fund, estimated at more than $200m, to focus on overseas construction projects, especially in the Middle East, the firm said.

RAK is aiming to attract one million visitors by the end of 2018 and encourages growth and diversification across the accommodation portfolio and tourism offerings for both business and leisure travellers.

chnelson@thenational.ae​

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The Color Purple

Director: Blitz Bazawule
Starring: Fantasia Barrino, Taraji P Henson, Danielle Brooks, Colman Domingo
Rating: 4/5

Company profile

Company: Verity

Date started: May 2021

Founders: Kamal Al-Samarrai, Dina Shoman and Omar Al Sharif

Based: Dubai

Sector: FinTech

Size: four team members

Stage: Intially bootstrapped but recently closed its first pre-seed round of $800,000

Investors: Wamda, VentureSouq, Beyond Capital and regional angel investors

The specs: 2019 BMW X4

Price, base / as tested: Dh276,675 / Dh346,800

Engine: 3.0-litre turbocharged in-line six-cylinder

Transmission: Eight-speed automatic

Power: 354hp @ 5,500rpm

Torque: 500Nm @ 1,550rpm

Fuel economy, combined: 9.0L / 100km

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The flights

Emirates offer flights to Buenos Aires from Dubai, via Rio De Janeiro from around Dh6,300. emirates.com

Seeing the games

Tangol sell experiences across South America and generally have good access to tickets for most of the big teams in Buenos Aires: Boca Juniors, River Plate, and Independiente. Prices from Dh550 and include pick up and drop off from your hotel in the city. tangol.com

 

Staying there

Tangol will pick up tourists from any hotel in Buenos Aires, but after the intensity of the game, the Faena makes for tranquil, upmarket accommodation. Doubles from Dh1,110. faena.com

 

SPECS

Engine: 4-litre flat-six
Power: 525hp (GT3), 500hp (GT4)
Torque: 465Nm (GT3), 450Nm (GT4)
Transmission: Seven-speed automatic
Price: From Dh944,000 (GT3), Dh581,700 (GT4)
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Torque: 760Nm from 3,000-5,750rpm
Transmission: Eight-speed dual-clutch auto
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Price: From Dh1.05 million ($286,000)

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Starring: Lakshya, Tanya Maniktala, Ashish Vidyarthi, Harsh Chhaya, Raghav Juyal

Rating: 4.5/5


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