Saudi Oger set to start RAK islands

Work due to start on Saraya Islands in Ras Al Khaimah

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By  Sean Cronin Published  September 24, 2005

Contractor Saudi Oger is set to start work on the US $500 million Saraya Islands project being developed in Ras Al Khaimah. The development will spread over one million m2 of land and is one of the largest leisure-based schemes to have been announced for the emirate. Chief executive Ali Kolaghassi said that Saudi Oger would act as both the main contractor and construction manager on the project. He also said that the firm was close to announcing a second leisure-based project in the UAE. The development will include several five-star hotels, up- market residences and commercial venues. The development company is being established as a joint venture between the Investment Development Office - the Government of Ras Al Khaimah, Saraya Emirates and Arab Bank. The major investor in the project is Saraya Emirates, a subsidiary of Saraya Holdings, which is chaired by Sheikh Saad Rafic Hariri.

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