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Emaar Properties has signed an agreement with Al Marjan Island to develop 85,000m2 of mixed-use projects including high-end residential, hospitality and retail components on Al Marjan Island in Ras Al Khaimah.

Emaar Properties will pilot the first phase of its project on the man-made island, which will feature a five-star luxury hotel and serviced residences along with a world-class retail zone.

The agreement predicts the development of several hospitality and retail projects in Al Marjan Island, which extends over 4.5km2.

Commenting on the initiative, Mohamed Alabbar, chairman, Emaar Properties, said, “Through the agreement, we will create a new magnet for investments in the tourism, hospitality and retail sectors supporting the vision of the government to boost the tourism sector and create jobs.”