UAE developers with new projects could be looking to Europe to access cheaper funding options. UAE’s project funding market is buzzing with activity all over again, whether for infrastructure, new residential or commercial projects, and industrial ventures. Amidst all this, project funding options are also opening. With borrowing rates set to rise, cost of financing will also be heading up shortly. So, if there are funding sources available that can provide longer tenor disbursals, then UAE developers will be giving them some serious attention. As for Dubai Investments, the Dh1 billion Ras Al Khaimah venture will see it swing into full activity. The developer, known more for its industrial parks in Dubai, has been expanding its interests in some of the other emirates. The Ras Al Khiamah project, however, is its most ambitious. Located on Al Marjan Island, the resort will have 300 hotel keys, apart from 160 villas and up to 400 apartments. Throw in a full-scale wellness centre and the project can compete with the bets out there.
A lot of those plans were delayed by the COVID-19, and there was nothing the companies nor governments planning these projects could do. Now, starting to get these back on track the companies have approached the Egyptian authorities to allow us the land. There’s definite progress being made in Angola. The Dubai Investments Park model is something others want to create in respective own countries and keep getting invitations to build. If COVID-19 finally takes a backseat.