Select Group, the Dubai-based luxury property developer yesterday announced that it has awarded a contract to the Construction Technology Contracting (CTC), a Ras Al-Khaimah based company, for construction of its Pacific project on the man-made development of Al Marjan Island.
The project, which is worth about Dh.1bn, is a joint development between Select Group and the UK-based Select Property. The Pacific will include six contemporary spectacular properties each named after Pacific Islands, and will comprise studios, single and double bedroom apartments, duplexes, Pacific Suites and Gulf Suites.
According to Rahail Aslam, the CEO of Select Group, Pacific is an exclusive waterfront project, and one of the first developments by the company at Ras Al Khaimah. CTC is the ideal construction partner for this project, which is due for completion in 2011.
The project, spreading across 25,300 square meters on the top isle of Al Marjan Island, is designed by architects JRHP. All properties will have a private beach, and other five star amenities, including rooftop infinity pools, spa, health clubs, 24-hour concierge and maid service.
Select Group and Select Property are the first company to provide investors with the security of a self-imposed Escrow option with a 15 year payment plan. This unique payment scheme offers easy installments for all investor categories.
Aslam, expressing his happiness over awarding the largest construction contract till date, for a project on Al Marjan Island, mentioned that the investor response for the Pacific project has been tremendous, ever-since its official announcement.
Established in 2005, CTC is one of the leading contractors in Ras Al Khaimah, and is expertized in the field of design and construction.
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