RAK construction keeps moving
Ras Al Khaimah shows ongoing construction activity across multiple projects, and Synergy Consulting is advising on the ISTP initiative—signs developers are pushing ahead on the ground. Local construction feeds indicate progress on several builds even as the market watches broader macro signals. (x.com) (x.com)
Synergy is acting as financial adviser to a consortium made up of Etihad Water & Electricity (EtihadWE), TAQA Water Solutions and Saur International that signed a long‑term Sewage Treatment Agreement with Ras Al Khaimah’s Public Services Department on 30 January 2026. (rakmediaoffice.ae) The Rakwa ISTP is being structured as a Build‑Own‑Operate‑Transfer (BOOT) PPP with planned treatment capacity of 60,000 cubic metres per day and an estimated service catchment of about 300,000 residents. (meconstructionnews.com) Synergy’s announcement said the firm is supporting transaction structuring and expects to move the project toward financial close with the lead sponsors, framing the deal as Ras Al Khaimah’s first large‑scale wastewater PPP. (saudigulfprojects.com) Beyond the ISTP, developers on Al Marjan Island reported visible site activity this month: the Wynn Al Marjan Island resort has reported a topped‑out tower and a 548‑metre Wynn Bridge that is approximately 48% complete with piling works finished. (caterermiddleeast.com) Richmind Development’s Oystra project released a March 6, 2026 construction update showing continuing on‑site progress and structural works along the Al Marjan shoreline for the Zaha Hadid Architects‑designed waterfront development. (youtube.com) RAK Properties reported that Bay Residences in Mina Al Arab is around 75% complete with 661 apartments accounted for in the development’s phases, while Marjan has finished RAK Central infrastructure and appointed ALEC as main contractor for the HQ Office Complex due in Q1 2027 — concrete milestones investors and contractors cite as evidence of on‑the‑ground momentum. (rakproperties.ae) (constructionweekonline.com)
