THE Ras Al Khaimah Government and the PDSI Development Group have launched a Dh20 billion ($5.44 billion) real estate project that will include a mountain resort, wildlife sanctuary and marina.
The two parties have already signed an agreement for a 50-50 joint venture on a freehold basis that is open to foreign investors. Construction will commence within six months.
The resort will be built on Al Jees Mountain and will be accessible only by helicopter and gondolas, Peter Dalkeith Scott, president of PDSI, was quoted as saying in the report.
Scott told media an 18 hole-golf course at the resort will be designed by two-time US Masters golf winner Jose Maria Olazabal of Spain.
A large number of villas will be built facing the golf course along with a 450-room hotel, and they will involve extensive use of glass.
The resort will also include Ski RAK, featuring the UAE's longest ski slope, 550 m long. The resort will also have a nature park which will include all the creatures of natural marine environment.