Solanki Holdings & Investments Ltd announces Dhs12bn worth of investment in Ras Al Khaimah

The flagship venture is a premium development on Ras Al-Khaimah's scenic Al Marjan Islands worth Dhs9bn.

The community will comprise of residential villas and apartments, commercial property and hotels. It will also include an elaborate shopping mall, with various entertainment options and retail offerings at par with those in Dubai. The development is a part of the initiative by the group to extend the scope of medium to high-end properties offered in the country to the Northern Emirates.

Despite the current crisis faced by the real estate market, the team at Solanki holds confidence in its choice of time to launch, and believes that this community will have an edge over other available properties.

Business activity has been on the rise in Ras Al-Khaimah, with the RAK Free Trade Zone being one of the fastest growing free trade zones in the country.

The IT Park and the Media Free Zone and Film City have attracted ample investment from other emirates and abroad, having served as more cost effective alternatives to Dubai's Internet City and Media City.

The Ras Al-Khaimah government has predicted that its population will go from just under 200,000 to 750,000 by the year 2020. Given these factors, Solanki Holdings has identified the need for an all-inclusive high-end property incorporating the demands of current and potential residents and investors in Ras Al-Khaimah.

"We have been operating diverse business in the UAE for 35 years now," says Abdulrahman Ismail Solanki, Chairman of Solanki Holdings.

"We are proud to announce our first real estate venture. Ras Al-Khaimah's spectacular Al Marjan Islands were an obvious location choice for us, serving as a beautiful backdrop for a mixed-use community while giving us the opportunity to cater to the emirate's growth in terms of commercial activity, tourism and population," he adds.

Solanki Holdings was founded in 1972, and has maintained strong quality standards across its diversified business interests. Its various ventures span the fields of construction, interiors, health care, education and now real estate. Solanki Engineering and Construction, with branches all over the UAE, has made significant contributions to the country with its diverse projects that include buildings, villas, labor camps, schools, farmhouses and mosques.

Solanki Interiors has acquired a reputable position in the market, with clients ranging from global hotel chains, to local municipalities and personal projects for Dubai's ruling family.

Solanki Dental Centre and Smile Care Medical Centre were established as the group's initiative to make a contribution to the health and wellness of residents in the UAE.

Following the launch of the Al Marjan Islands project, Solanki Holdings plans to extend its real estate offerings to other emirates, starting with Dubai.

"Our real estate arm has a fast-developing portfolio that comprises a wide spectrum of projects across the U.A.E in the freehold and non-freehold areas," says Abdulbasit Ismail Solanki, President of Solanki Real Estate.

"International City, Dubai Silicon Oasis, Dubailand and Jumeirah Village are just a few projects besides our flagship Al Marjan venture that are on the horizon for us."