ATARA Growth has signed an settlement with Marriott Worldwide to launch The Residences on the Sheraton Al Marjan Island Resort, marking the primary Sheraton-branded residences within the GCC.
The project will probably be located on Al Marjan Island in Ras Al Khaimah.
The beachfront improvement options 141 models and will probably be co-located with the Sheraton Al Marjan Island Resort.
First Sheraton branded residences in GCC introduced for Ras Al Khaimah
The settlement was executed within the presence of dignitaries from Marjan and Marriott, with Arch. Abdulla Al Abdouli, CEO of Marjan, becoming a member of ATARA management for the signing ceremony.
This improvement represents ATARA’s growth into major property improvement and serves because the cornerstone of the corporate’s portfolio.
The agency has deliberate over 1 million sq. ft of improvement within the subsequent two years, constructing on accomplished initiatives in Dubai’s Pearl Jumeirah Island, La Mer South Island, and Dubai Islands.
“We’re delighted to welcome ATARA Growth and The Residences at Sheraton Al Marjan Island Resort to our vibrant neighborhood. Situated on the prime shores of Al Marjan Island, this mission displays the caliber of world-class developments we envision for our vacation spot. By combining ATARA’s experience in luxurious residences with Sheraton’s legacy of hospitality excellence, it affords a particular proposition for each residents and buyers — additional strengthening Al Marjan Island’s place because the area’s premier coastal life-style hub. We sit up for seeing this landmark mission come to life,” Arch. Abdullah Al Abdouli, CEO of Marjan mentioned in an announcement.
Al Marjan Island continues to expertise development in each residential markets and tourism sectors.
The Ras Al Khaimah economic system is projected to develop by a mean of 4 per cent yearly from 2024 to 2027, attracting hospitality and actual property operators.
The Residences at Sheraton Al Marjan Island Resort will function trendy structure, interiors, and over 50 facilities.
ATARA Growth will franchise in-house hospitality providers to supply resort-style residing aligned with Sheraton model requirements. The residences will showcase Sheraton’s design strategy, incorporating fluid areas with a particular type.
“For ATARA, this flagship mission marks a defining second as we set up our id within the UAE’s actual property market — one which goes far past bricks and mortar. It paves the way in which for a future constructed on prime, strategic places and premium luxurious, distinguishing us in a aggressive panorama. Extra than simply our first improvement, it represents a brand new chapter the place we craft full life-style ecosystems, not simply houses. Our imaginative and prescient for The Residences at Sheraton Al Marjan Island displays the aspirations of discerning shoppers and what they honestly need — a benchmark mission that can ship an expertise they will sit up for with confidence,” Umid Bazarov, Chief Working Officer of ATARA Growth added.
ATARA’s in-house building group will deal with mission execution, masking structural work and ending particulars to satisfy high quality and class requirements.
“The Residences at Sheraton Al Marjan Island Resort mark a strategic milestone in our world residential portfolio. As the primary Sheraton residences within the GCC, this improvement will champion the model’s wealthy historical past of service and legacy of fostering connections. We’re delighted to collaborate with ATARA Growth to convey this imaginative and prescient to life and ship the Sheraton expertise that displays a way of belonging, accomplishment, and success for the residents,” Sandeep Walia, Chief Working Officer, Center East and Luxurious, Europe, Center East, and Africa, Marriott Worldwide concluded.
The event represents one in every of a restricted variety of Sheraton-branded residences worldwide, positioning it as a waterfront residing alternative on Al Marjan Island.