Mohamed Alabbar is set to launch a remarkable island project off the coast of Abu Dhabi. The project, called Ramhan Island, will be developed through Eagle Hills, Alabbar’s privately owned development firm, and is expected to cost $3.5B.
The island will feature 1,800 beach villas, a hotel, a marina, and 1,000 branded residences. Ramhan Island, which is already in existence, is being described as “natural, raw, and untouched.” The development will include a world-class marina, luxury hotel, and floating villas. Alabbar has expressed his desire to create a “quality of life” that has never been seen before.
The villas will vary in size, ranging from 2862 square feet to 7539 square feet, with eight different designs and layouts. Alabbar hopes that the first villas will be ready for occupancy within three years. The launch comes just three months after Alabbar launched the $2.5B Durres Yacht Club and Marina in Albania. Alabbar said that properties located by water “are usually looking at a 35 percent premium on their value.”
