Al Marjan Island in Ras Al Khaimah has reached a remarkable milestone with the complete sell-out of its residential units. As the demand for premier real estate grows, developers are focusing on community development projects, turning the island into a new lifestyle destination.
Vision and Development
Arch Abdulla Al Abdouli, CEO of Marjan, the master developer of freehold properties in Ras Al Khaimah, announced plans for 15,000 hotel keys and 12,000 residential units on Al Marjan Island. Following the sell-out, diverse projects across various locations are underway to create world-class master-planned communities.
Rising Demand for Freehold Properties
The demand for freehold properties, both residential and commercial, has surged across Dubai, Abu Dhabi, Sharjah, and Ras Al Khaimah, especially post-pandemic, driven by a significant inflow of foreign investors.
About Al Marjan Island
Al Marjan Island comprises four islands, featuring 7.8 kilometers of pristine beaches and 2.7 million sqm of reclaimed land. The island hosts six operational hotels: Rixos Bab Al Bahr, DoubleTree by Hilton, Movenpick Resort, Hampton, Pullman Resort, and Radisson Resort, offering over 3,000 room keys.
Investment Opportunities and Incentives
The island gained international attention with the announcement of the US gaming Wynn Resort. Investors benefit from 100% foreign ownership, zero personal tax, full repatriation of capital and profits, and long-term residency through investment. These incentives have attracted significant local and foreign investment.
Recent Developments and Projects
In 2024, several major branded projects were launched, including Tonino Lamborghini Residences, Manta Bay, and Dh4-billion Sora Beach Residences, in partnership with Arista Developments. Other notable launches include an Aston Martin-branded project and La Mer by Elie Saab, developed by UAE-based Arte Developments. La Mer will feature three interconnected towers with a dual lobby and various on-site facilities.
Al Marjan Island's successful development and sell-out highlight its appeal as a premier real estate destination. With ongoing projects and attractive investment incentives, it continues to draw interest from investors worldwide.
If you're interested in buying property in Ras Al Khaimah, contact us now to explore the opportunities on Al Marjan Island.
Source : https://www.khaleejtimes.com/business/realty/uae-al-marjan-lsland-with-12000-residential-units-in-rak-sold-out-says-ceo?_refresh=true
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