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FINANCIAL NEWS
Ras Al Khaimah to build USD544m new city
01 Oct 2014
(MENAFN) Ras Al Khaima announced it has approved plans to construct a USD544.42 million city for Emiratis within a strategy to build integrated housing areas that include all necessary services, Emirates 24/7 reported.
The Sheikh Zayed Housing Program will build the new city which will include 2.000 houses accommodating nearly 10.000 people on the basis of an average Emirati family of five.
The project’s first phase will include 500 houses, with a scheduled start of construction to be in 2015 and the whole project is expected to be completed within four to five years.
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