The Emirate of Ras Al-Khaimah is developing a one billion dollar free zone concept that combines luxury waterfront residential and resort facilities with a high tech Technology Park.
Work has already begun on the Jazirat Al-Hamrah project that will include the five-star Al Hamrah Fort Hotel, an 18-hole golf course, beaches, lagoon and over 300 properties that can be purchased freehold by non United Arab Emirates (UAE)-nationals. There are also plans to add a smaller version of Dubai’s Palm Islands.
The 500-hectare Jazirat Al-Hamrah scheme and its associated Technology Park are part of Ras Al-Khaimah’s Three Park system showcased at the International Investment Summit Network Marketing Exhibition, at the Grand Hyatt Dubai Conference Center. The other two zones are the Business Park and the Industrial Park.
The International Investment Summit Network Marketing Exhibition, organised by IIR on behalf of the Dubai Development and Investment Authority (DDIA), has brought together investment authorities and promotion boards, multinational corporations, major property developers, international and regional non-governmental organizations, free zone representatives and financial institutions. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
