Diamonds International Corporation (DIC) has launched its new upscale Dh500-million ($136 million) project, featuring a 5-star luxury hotel, branded residential apartments and 40 water villas, at the Cityscape expo in Dubai.

The mixed development will be another striking sight to be added to the UAE skyline of high-end luxury projects on Al Marjan Island (AMI), the first man-made island project in Ras Al Khaimah, said the company in a statement.

The 276,079 sq ft development will be equipped with a world-class community centre, open spaces, paved roads and parking spaces. Additional amenities include a gymnasium and a swimming pool and a group of retail outlets, it added.

Commenting on the launch, Abdullah Rashed Al Abdooli, the managing director of AMI Company, said: "We are delighted to welcome DIC to the Al Marjan Island. We have provided the required facilitation to ensure the successful implementation of the project."

"We are excited about DIC plans to add an amazing project that blends tranquility with comfortable living. This new project will cater to the rising demand for secluded, exclusive in environment-friendly regions in Ras Al Khaimah, and it is a matter of great pride for us to play our part in contributing to the strategic vision of the emirate through a slew of tourism and real estate projects on Al Marjan Island," he added.

Lubos Riha, the chairman, founder and president of DIC, said: "Our selection to Al Marjan Island was inspired by its appeal as a future for high tourism destination. We are a brand that is synonymous with luxury, and AMI is the perfect venue for this new project. AMI is a favorite destination to tourists and residents, and we are excited by the opportunity to participate in the continuing expansion of the island."

The project boasts 340-branded residential units featuring one-bedroom, two-bedroom and three-bedroom apartments, while the five-star hotel will have 300 rooms and suites, providing high degree of comfort.

It will also have a restaurant, a spa and fitness area, offering guests the option to relax or workout while enjoying panoramic views of the island and the sea.

"We anticipate high demand from those who appreciate luxury and high end living. It will set another yardstick of excellence for Al Marjan Island. We are proud to launch our first project on Al Marjan Island on a great and unique location," stated Riha.

According to him, the project is currently in the design and planning phases and it is set to offer a private enclave within AMI.

"This is a major foray for us in the UAE realty industry and we are committed to providing our clients with the same level of luxury we offer in the diamond industry," noted Riha.

DIC is one of few companies in the world trading with investment diamonds, which are one of the most stable investment   mean. It is also a specialist in the production and sale of original diamond jewellery designed by renowned designers.

"Starting 10 years ago as a purely Czech company we grew to go international within five years, becoming the fastest growing diamond brand on the continent and a symbol of luxury worldwide, he added.

Construction of the new luxury project is slated to begin in early 2016 and will be completed in three years.-TradeArabia News Service