UK-based Magna Group has announced its first global hotel and branded residences project in Al Marjan Island in Ras Al Khaimah, having acquired a plot on the man-made island for an undisclosed sum.
Valued at AED350 million ($95.3 million), the new hotel project includes a 372-room resort as well as 78 residences and is scheduled to be completed in 2021.
The 78 branded residences will be available for purchase or longer-term rental.
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