Bin Haider Holding Group unveils AED 1 billion mega real estate project on Al Marjan Island

Mohammad Oman Bin Haider Holding Group P.S.C. has announced an upscale mega project on Al Marjan Island, spread across 1.4 million sq ft., featuring a 5-star luxury hotel, luxurious residential apartments, commercial buildings cluster and retail area, totally valued at AED 1 billion. 

The announcement was made on the first day of Cityscape Global 2016, the major international three-day estate development and investment event that kicked off today (Tuesday, 6 September) at the Dubai International Convention & Exhibition Centre (DICEC).

The new project on AMI will be a key contributor to the leadership position of Bin Haider Group in the UAE realty market, reflecting the group’s confidence in executing such a huge project which is one of the big-ticket launches at Cityscape Global, a global platform for investments in the property, hospitality and retail sectors. 

“We are delighted to seal this deal with Bin Haider Group to launch one of the biggest projects on AMI this year. The project signifies another shot in the arm to the property and hospitality sectors in Ras Al Khaimah and the UAE, through the addition of more hotel rooms, residential apartments, retail shops, further diversifying the offerings at AMI. It also reflects the diverse investment opportunities offered by AMI and the emirate of Ras Al Khaimah, which has emerged as a high-potential market for property and hospitality in the UAE and across the Middle East,” said Architect Abdullah Al Abdooli, Managing Director of Al Marjan Island. 

“The launch of this mega project on the first day of Cityscape Global will help consolidate the positioning of AMI on the international real estate and tourism map among major real estate and hospitality companies globally,” added Al Abdooli. 

“Our decision to develop this iconic project directly reflects our confidence in the potential of AMI as a premier investment and tourism destination in the UAE and the Middle East, based on its picturesque location in a stunning natural setting and world-class infrastructure, two key factors critical to the success of any project. We are positive this project will represent great value addition to the property and retail scene in Ras Al Khaimah,” added Hakam Khalil, CEO, Mohammad Oman Bin Haider Holding Group P.S.C.

“We will work on executing this huge project over the coming months as part of our strategic plan to treble the number of our hotel rooms and residential units by 2020,” Khalil added.

Al Abdooli highlighted the importance of building the confidence of leading local and international hospitality groups, such as Bin Haider during Cityscape Global. This will be translated into mega projects that will further accelerate the growth of AMI and enhance its contribution to boosting the tourism sector in Ras Al Khaimah.