Rakeen has announced that it will present its AED 1.2 billion Bab Al Bahr resort at Cityscape 2007, the business-to-business real estate investment and development event in the world, being held at the Dubai International Exhibition Centre from October 16-18, 2007.
“Our clients range from families, investors, businessmen to prominent individuals; there is something for everybody from all walks of life, which is exactly the message we aim to deliver during our participation at Cityscape. Our marketing initiatives have already created a strong impact and many prospective investors and buyers are now looking forward to learn more about Bab Al Bahr during the exhibition,” said Wahid Attalla, CEO, Spectrum Consultants, Project Managers of Bab Al Bahr.
Bab Al Bahr is the inaugural development project on the Al Marjan Island, Rakeen’s man-made coral-shaped atoll that extends four kilometres into the Gulf. The development includes a four-star deluxe hotel, time-share apartments, freehold residential apartments, a shopping centre and an office tower, offering occupants 360 degree sea views and open private beach fronts.
On completion in the first quarter of 2010, Bab Al Bahr will feature five residential buildings and a total of 710 residential freehold apartments broken into 110 studio apartments, 290 one-bedroom apartments, 220 two-bedroom apartments and 90 three-bedroom apartments. Facilities at the residential areas also include a pool bar, gym, themed swimming pools, children’s play areas, and other club privilege access.
Rakeen is now in the process of determining the project’s main contractor in a move to break ground before end of this year; while it has already gathered a line-up of partners for the development and operations of Bab Al Bahr, including B&G Hotels & Resorts, the hotel management company; ASTECO, the real estate agent for the freehold apartments; Union National Bank, the mortgage facilitator for the project; and Spectrum Consultants.