Diamonds International Corporation (DIC) has unveiled plans for a Dh500-million ($136 million) mixed-use development which will take shape at Al Marjan Island (AMI), the first man-made island project in Ras Al Khaimah, UAE.

The upscale project featuring a five-star luxury hotel, branded residential apartments and 40 water villas is spread across 276,079 sq ft and 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.

Construction of the new luxury project is slated to begin in early 2016 and will be completed in three years. The project is currently in the design and planning phases and is set to offer a private enclave within AMI.

“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,” says Abdullah Rashed Al Abdooli, managing director of AMI Company. “This new project will cater to the rising demand for secluded, exclusive residences in environment-friendly regions in Ras Al Khaimah. The project boasts 340 branded residential units featuring one-, two- and three-bedroom apartments, while the five-star hotel will have 300 rooms and suites, a restaurant, a spa and fitness area.

 The project was inspired by AMI’s appeal as a future tourism destination, says Lubos Riha, chairman, founder and president of DIC.

“We are a brand that is synonymous with luxury, and AMI is the perfect venue for this new project.

“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,” Riha says.

The new project is a major foray for DIC in the UAE realty industry and the company is committed to providing clients with the same level of luxury it offers in the diamond industry, he adds.

Starting 10 years ago as a purely Czech company, DIC has grown internationally within five years, becoming the fastest growing diamond brand on the continent and a symbol of luxury worldwide. It is one of few companies in the world trading with investment diamonds.

DIC is also specialist in the production and sale of original diamond jewellery.