Al Marjan Island in Ras Al Khaimah has become a highly sought-after destination, with all properties being sold out. The master developer, Marjan, is now focusing on the development of community projects that will serve as the ‘downtowns’ and new lifestyle destinations on the mountains, according to CEO Arch Abdulla Al Abdouli. Plans for the island include 15,000 hotel keys and 12,000 residential units, making it a prime location for real estate investment.
The success of Al Marjan Island has led to the expansion of diverse projects across various locations to create world-class master-planned communities. The island boasts impressive features such as 7.8 kilometers of pristine beaches, 23 kilometers of waterfront, and 450 holiday homes, making it an attractive destination for both tourists and investors. The development of freehold properties in Dubai, Abu Dhabi, Sharjah, and Ras Al Khaimah has seen a significant increase in demand post-pandemic, with foreign investment flowing at an exceptional pace.
With four islands, 2.7 million square meters of reclaimed land, and 7.8 kilometers of beaches, Al Marjan Island offers a unique opportunity for investors. The island provides 100% foreign ownership, zero personal tax, and 100% repatriation of capital and profits, making it an ideal choice for real estate investment. The presence of top hospitality brands and real estate developers on the island has further fueled the demand from local and foreign investors over the years.
Several major branded projects have been launched on Al Marjan Island, including Tonino Lamborghini Residences, Sora Beach Residences, and an Aston Martin-branded project. The recent launch of La Mer by Elie Saab, the first Elie Saab branded residences at the premium destination, has added to the island’s appeal. Leveraging Ras Al Khaimah’s natural assets, Marjan aims to lay the foundation for the Emirate’s future expansion through strategic master-planning.
Investors have the opportunity to acquire land for various purposes such as hotel, residential, retail, leisure, or mixed-use development on Al Marjan Island. The lower development costs in the northern emirate, which are approximately 10% lower than the regional average, coupled with tourism growth, present attractive opportunities for investors to achieve significant returns. Marjan’s strategic approach to provide suitable plots for investors from diverse nationalities has contributed to the island’s growing popularity in the real estate market.
In conclusion, Al Marjan Island in Ras Al Khaimah has emerged as a premier destination for real estate investment, with all properties sold out and a focus on developing world-class communities and lifestyle destinations. The island’s unique features, attractive incentives for investors, and strategic master-planning approach make it a lucrative opportunity for both local and foreign investors. With ongoing projects and partnerships with renowned brands, Al Marjan Island is set to continue its growth as a top real estate destination in the region.
