Orascom breaks ground on beach property in RAK

The US $60 million project will cover 50 acres of virgin beach property on the coastline

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By  Conrad Egbert Published  May 14, 2005

Egyptian construction giant, Orascom Hotels and Development (OHD) has broken ground on The Cove, its first major project in the UAE. The US $60 million (AED221 million) project will involve the development of 50 acres of beach property on Ras Al Khaimah’s coastline. The Cove is 40 minutes away from Dubai International Airport, using the new Emirates Highway, and includes 134 Nubian-style furnished villas. Nearly 50% of the villas were sold within a few days of its unveiling. The Cove development is located close to a golf course, a choice of shopping malls, supermarkets, international schools and hospitals. The Ras Al Khaimah free zone is only a few minutes away. Samih Sawiris, the chairman of Orascom Hotels and Development, said: “We’re excited about The Cove. Not only is it our first major project in the UAE, but it’s also going to be one of the most prestigious destinations in the region. “This development is the beginning of a long range of projects in the region.” He added: “The opening ceremony was only a small hint as to what we have planned for the cove. We expect people everywhere to talk about this project, we want the cove to be the stepping stone for future projects in the UAE and we are very happy that we can bring our services and years of experience to the region.” Construction of The Cove is expected to be completed by winter 2007.

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