FINANCIAL NEWS

UAE’s Al Hamra Real Estate grants USD40.82m contract to Chinese firm

08 Mar 2015

(MENAFN) UAE Al Hamra Real Estate granted a USD40.82 million contract for marine and infrastructure work, at Falcon Island project, to China Harbour Engineering Company, Gulf Business reported.

The development in Ras Al Khaimah, with an estimated value of USD272.18 million, is set to feature 150 villas and mansions with European architecture and luxury interiors.

The Chinese company is set to supervise the landscaping of private and public beaches and power, sewage, and road networks. Current beaches at Al Hamra Village are also included to be enhanced in the contract.

“Falcon Island will be a retreat from the fast pace of the big cities, a place where families can enjoy some of the finer things in life,” the General Manager of Al Hamra Real Estate said in a statement.

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