Claiming its place in the sun

Nov 2016 , by , in Developers Speak

Coming out of the shadows of Dubai and Abu Dhabi, is one of the UAE’s seven Emirates, Ras Al Khaimah,literally translated as ‘headland of small huts’. And located in Ras Al Khamaih’s is Al Marjan, the archipelago of four man made islands extending 4.5km into the pristine waters of the Arabian Gulf.

Al Marjan Island is located just 45 minutes from Dubai International Airport, 35 minutes from Sharjah International Airport and 25 minutes from Ras Al Khaimah International Airport. Currently, there are three operational resorts – Double Tree by Hilton with around 450keys, Rixos Bab Al Bahar with around 650keys and Marjan island resort &spa (managed by Accor) with around 350keys.  The hotel occupancy is on an average 65-75%.

New Hospitality Projects

Double Tree Hotel has augmented capacity from 450 to 650 keys after acquiring the adjoining property. There are four developments under different stages of design planning and/or construction are expected to add another additional 1,000 odd room keys

The island has entered into a strategic partnership with Mövenpick Hotels & Resorts to launch its first resort in Ras Al Khaimah, and another with Super Casa to develop a 5-star hotel on a 75,000 sq.ft. plot on the island.

Residential Developments

Some of the Al marjan residential units have been completed and some are nearing completion,Most Al Marjan’s residents will have a sea view and all of them will have direct beach access, with around 28% of them having beachfront settings.

Al Marjan Facts

23 kilometres of water-frontage

Seven kilometres of white, sandy beaches

6,500 planned residential units

8,000 planned hotel rooms

400 room wellness retreats

600 holiday villas

Investment Benefits Personal Tax 0%

  • Income Tax 0%
  • Foreign Ownership 100%
  • No Foreign Exchange Controls
  • Repatriation of Capital and Profits 100%
  • Ready Infrastructure 100%
  • Availability of Utilities Services 100%
  • Availability of Labour Accommodation
  • Regulated by Ras Al Khaimah Real Estate Regulatory Authority (RERA)
  • Residency Visa for homeowners

 

About Ras Al-Khaimah

RAK enjoys a diversified economy in which no single segment exceeds more than 20% of GDP. RAK’s major industries are tourism, commodity trading and manufacturing. Thereby giving a boost to real estate development opportunities

It is not dependent on Oil as a driver of the Economy.  Currently RAK is growing at 4.5% and has maintained this growth rate in six out of the last eight years- Source: RAK’s Statistical Year Book. Due to its stability, affordability, and lack of reliance on oil, RAK has the potential to attract investors that are averse to taking risk in a volatile market

 

 

 

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