Al Marjan Island to tap Indian investors
Al Marjan Island, the mega mixed-use realty project at Ras Al Khaimah in the UAE, is being promoted by its master developer Al Marjan Island LLC as an ideal investment destination for both Indian firms as well as citizens. The project is a cluster of four islands extending 4.5km into the Arabian Gulf, covering an area of 2.7 million sq metres of reclaimed land.
“Al Marjan Island has great potential to establish itself as the favourite destination for all,” said Abdullah Rashed Al Abdooli, managing director of Al Marjan Island LLC. “The Indian market is huge — we are trying to tap it aggressively. We would like Indian developers and investors to come to Al Marjan Island as partners in the development of the place.”
According to a recent study by Colliers International, investments made in Al Marjan Island are delivering a 16% equity IRR, which is on a par with other similar established projects in the region. The Al Marjan Island project is regulated by the Ras Al Khaimah Real Estate Regulatory Authority (RERA) and comes with residency visa for homeowners.