More progress on Al Marjan Island project

Construction Week - July 15, 2009

Select_AlMarjanSelect Group has announced that final piling and layout has commenced on the foundations of its development on Al Marjan Island, a man-made project off the coast of Ras Al Khaimah.

Work on the ‘Pacific’ island is on schedule for completion in June 2011 and the developer says that escrow account requirements have been finalised in preparation for expected investment into the property there.

“Maintaining a healthy pace of development is one of our key priorities, which is why we are closely and constantly monitoring the progress of the Pacific as well as the rest of the property developments on Al Marjan Island,” said Eng Yehia Kambris, general manager of the Ras Al Khaimah Investment Authority’s real estate regulator.

“RAKIA has also been coordinating with all developers to ensure that all properties are built according to the highest quality standards and specifications that we have set beforehand. At the same time, we are making sure to protect the interest of investors by strictly enforcing the escrow account regulations,” Kambris added.

Work on the Al Marjan Island project as a whole seems to be progressing well; earlier this week, Manazil Real Estate announced that it had completed foundation work at its Marbella Bay luxury resort development.

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