Saraya Islands, a Real Estate Development and Asset Trading and Management company, will be conference sponsor of MEED conference held in Ras Al Khaimah (RAK) under the patronage of his Highness Sheikh Saud Bin Saqer Al Qasimi, Crown Price and Deputy Ruler of Ras Al Khaimah on February 12th -13th, 2007 at the Hilton Hotel. The conference hosts more than 175 participants including businessmen, investors and economic decision makers. The event is organized by MEED Economic Magazine, the Investment and Development office (IDO) of the Ras Al Khaimah Government. This conference is considered to be one of the most important economic and investment conferences in the region. Through its participation, Saraya Islands aims at shedding the light on its leading real estate and development project "Saraya Islands" which is considered to be a pioneer in the travel and tourism industries within the RAK Emirate. Furthermore, Saraya's participation aims at supporting the economic and investment environment that helps to place RAK on the worldwide tourism map. Mr. Ali Kolaghassi, Vice Chairman and CEO of Saraya said: “The importance of the conference resides in the doors it opens towards showcasing the attractive investment environment in Ras Al Khaimah and revealing the opportunities for attracting major local and foreign investments”. Among a group of experts who will discuss a series of investment and economic topics regarding the RAK emirate, Eng. Karim Musfi, Senior Manager for Design Services at Saraya Development Group, will present the latest updates and developments of the Saraya Islands project during a session on the real estate projects in Ras Al Khaimah. Saraya Islands, the real estate and tourism project situated in Ras Al Khaimah - United Arab Emirates, comprises approximately of 1.2 million square meters and a total cost of US$ 1.3 billion. The three founding partners behind Saraya Islands are the Investment and Development Office of the government of Ras Al Khaimah, Saraya Holdings limited and the Arab Bank. The partners together bring a wealth of global experience and expertise to the project. Saraya Islands consists of four islands inter-connected through a series of appropriately scaled resort-style roads and bridges. These islands are called: al-Boum, al-Marsa, al-Sahab, and al-Wahat. Each of these islands is considered as a gated community for the exclusive use of its residents and Saraya Islands clients. The central island, the Al Marsa, forms the focus of the development with its Ibn Majid Center, cultural facilities, a 5-star hotel, marina and sea-view service and apartments. The Ibn Majid Centre and Hotel will be accessed from the Saraya Village on the mainland, which will accommodate mixed use developments, retail market, and parking facilities. Situated to the south of Al Marsa Island is Al Boum Island, a family resort holiday and leisure destination with its two hotels, serviced villas, water theme park, sports centre, planetarium, Ibn Majid Sailing Institute and mangrove bungalows. The Al-Sahab Island located to the immediate north of the Al-Marsa Island is exclusively dedicated to a resort and spa development. Whereas, the Al-Wahat Island, located to the north of the Al-Sahab is a high end residential island with palatial villas, sea-view beach villas, lagoon view villas, beachfront townhouses and a club house. Moreover, Saraya Islands project will comprise of retail shops, restaurants, entertainment and leisure services, outdoor sports courts, a planetarium, cultural center, convenient pedestrian pathways and boardwalks as well as Sailing, fishing and navigation facilities, training and developing institute, car parking, six kilometers of sandy beaches, tidal exploratory walkways, bird observatory. The project will be completed in 2010 transforming the area into a worldwide tourism destination. -Ends- About Saraya Islands Situated in Ras Al Khaimah, Saraya Islands will occupy a pristine 7 kilometer long natural island running parallel to the RAK coastline thereby creating a natural lagoon between the project and the mainland. The three founding partners behind Saraya Islands are the Investment and Development Office of the government of Ras Al Khaimah, Saraya Holdings and the Arab Bank. The partners together bring a wealth of global experience and expertise to the project. Saraya Islands consists of four islands inter-connected through a series of appropriately scaled resort-style roads and bridges. These islands are called: al-Boum, al-Marsa, al-Sahab, and al-Wahat. Saraya Islands will offer “state-of-the-art” resort and hotel destinations, an array of waterfront villas, houses, services apartments and condominiums, a theme park, high quality entertainment and leisure services all united within the context of serenity, heritage and nature. Saraya Islands comprises approximately of 1.2 million square meters, of which around 950,000 square meters will evolve into the actual project, while 250,000 square meters are dedicated to beaches, landscaped areas, open-air activity areas and circulation space. The total cost of the project is US$ 1.3 billion. The exclusive build contractor for Saraya Islands project is Saudi Oger Ltd, ensuring the delivery of the highest construction standards. Saraya Islands will commence operations in 2010.
