About the Sponsors & Founders
DIC EAST DMCC FZE a company registered in the Dubai Multi Commodities Center Free Zone is the landowner for the two plots HRL 05 and HRL 06 sites, both dedicated for the development of the pre-selected Steigenberger Hotel & Resort on Al Marjan Island, and has entered into a Joint Venture with FAM HOLDING, a Dubai based prominent real estate developer and contractor, to undertake the development and the construction of this 225 million USD project.
The Directors of DIC EAST DMCC and FAM HOLDING respectively, Dr. Lubos Riha and Dr. Faisal Ali Mousa together with their professional and highly experienced teams, have joint their efforts to ensure that this development and the funds collected for this purpose will be managed properly and diligently.
Under this newly formed equally owned Joint Venture “DIC-FAM”, both founders are set to contribute their respective assets, cash plus lands for DIC and cash plus development cost, including construction for FAM HOLDING. To date both parties have injected into the JV in cash over 15 million USD of their own equity and continue to do so as to such extent that the cash equity founders contribution by the end of 2019 will stand at 25 million USD.
Discover Al Marjan Island (RAK)
- Al Marjan Island is an offshore island tourism development built in the southwest of Ras Al Khaimah (RAK) in United Arab Emirates (UAE), only 45 minutes from Dubai International Airport. Al Marjan Island comprises of four man-made coral-shaped islands, covering over 2.7 million square metres (29 million square feet), 23 kilometers of waterfront, 7.8 kilometers of pristine beaches and extend approximately 4.5 kilometres into the Arabian Gulf.
- Al Marjan Island has already attracted major developers and hotel operators, such as EMAAR THE ADDRESS with 249 rooms and 234 branded residences under construction, DOUBLE TREE by HILTON (725 rooms), RIXOS (647 rooms), MOEVENPICK (under construction), PARK-INN (under construction), AVANI (under construction)…; Marjan Island is also connected to neighbouring Al Hamra development with renowned WALDORF ASTORIA (346 rooms) and RITZ CARLTON (133 rooms).
- Pre-selected STEIGENBERGER DIC Resort is located in prime beachfront plots of land on the View Island, adjacent to EMAAR THE ADDRESS. View Island is the heart and soul of Al Marjan Island and forms the northern tip of the archipelago Al Marjan, with 3.5 kilometers of sandy beaches and 2.4 kilometers of waterfront. The View Island’s unique setting spans over 5 million square feet and offers a unique blend of retail destinations, leisure and beach clubs set around an urban core.