Ras Al Khaimah, UAE: Al Marjan Island, the premier development by Marjan, has sold out all its residential units, marking a significant milestone in Ras Al Khaimah’s real estate landscape. Arch Abdulla Al Abdouli, CEO of Marjan, announced plans for further community development projects across multiple locations, aiming to create vibrant urban centers and innovative lifestyle destinations.
Development Plans for Future Communities
“Al Marjan Island is already sold out, and following this success, we are now working on diverse projects across several locations to create world-class master-planned communities that will serve as the ‘downtowns’ of the future, in addition to new lifestyle destinations on the mountains,” said Al Abdouli in an interview.
The island, spanning 2.7 square kilometers of reclaimed land, boasts 15,000 planned hotel keys and 12,000 residential units. It features 7.8 kilometers of pristine beaches and a 23-kilometer waterfront, making it a sought-after destination for both tourists and investors alike.
Demand for freehold properties, both residential and commercial, has surged across Dubai, Abu Dhabi, Sharjah, and Ras Al Khaimah post-pandemic, attracting a steady inflow of foreign investments.
Incentives Driving Investor Interest
Al Marjan Island offers attractive incentives such as 100% foreign ownership, zero personal tax, 100% repatriation of capital and profits, and long-term residency through investment, further enhancing its appeal to global investors.
Expansion and Branded Projects
The island has witnessed rapid development with the introduction of several branded projects, including Tonino Lamborghini Residences, Manta Bay, Sora Beach Residences, and an Aston Martin-branded project. Recently, Marjan launched La Mer by Elie Saab, the first Elie Saab branded residences at the premium destination, further enriching its real estate portfolio.
Strategic Growth and Market Trends
“Our strategic master-planning approach aims to leverage Ras Al Khaimah’s natural assets and lay the foundation for the emirate’s future expansion,” added Al Abdouli. Marjan continues to offer land acquisition opportunities for various developments, catering to diverse investor needs and preferences.
Investors find Ras Al Khaimah attractive due to its hospitality market growth and lower development costs, which offer approximately 10% higher returns on investment compared to the regional average.
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