Ras Al Khaimah-based developer Al Hamra announced on Wednesday the award of main works package for its one-billion-UAE dirham ($272 million) Falcon Island development to UAE-based Construction and Reconstruction Engineering Company (CRC).

CRC is part of Egypt-headquartered construction company DORRA Group.

Al Hamra said in statement that CRC would be responsible for constructing 502 villas and townhouses on Falcon Island.

The construction timelines and value of the contract were not given.

The project was launched in March 2022 with enabling initiated in September 2022.

The Falcon Island project, spread across two islands, is located in the heart of Al Hamra Village.

Al Hamra has over 40 million square feet of land parcels for potential real estate and hospitality developments, Group CEO Benoy Kurien told Zawya Projects in February 2023.

(Writing by D Madhura; Editing by Anoop Menon)