Al Marjan Island: 12,000 Residential Units Sold Out in Ras Al Khaimah

The demand for freehold properties in the UAE, especially in Ras Al Khaimah, has reached unprecedented levels, leading to the complete sell-out of residential units on Al Marjan Island. This remarkable development, announced by Arch Abdulla Al Abdouli, CEO of Marjan, underscores the growing appeal of RAK as a prime investment destination.

Unprecedented Demand Across UAE

The surge in demand for freehold properties is not limited to Ras Al Khaimah but is seen across Dubai, Abu Dhabi, and Sharjah as well. The pandemic has accelerated this trend, with a significant influx of foreign investors seeking stable and lucrative opportunities in the UAE real estate market.

Al Marjan Island: A Master-Planned Success

Al Marjan Island, a flagship project by Marjan, has been transformed into a world-class, sustainable beach resort-style community. The island spans 2.7 square kilometers of reclaimed land, featuring 7.8 kilometers of pristine beaches, and 23 kilometers of waterfront. It boasts 15,000 planned hotel keys and 12,000 residential units, with six operational hotels offering over 3,000 room keys, including renowned brands like Rixos Bab Al Bahr, DoubleTree by Hilton, and Movenpick Resort.

Key Attractions and Investor Incentives

The Island gained global attention with the launch of the US gaming giant Wynn Resort. Al Marjan Island offers several investor-friendly incentives, including 100% foreign ownership, zero personal tax, and full repatriation of capital and profits. Long-term residency through investment further enhances its appeal to both local and international investors.

Strategic Developments and Future Projects

In 2024, Al Marjan Island saw the launch of major branded projects such as Tonino Lamborghini Residences, Manta Bay, and Aston Martin-branded developments. The recent launch of La Mer by Elie Saab marks the introduction of Elie Saab branded residences, adding to the island’s luxurious offerings.

Leveraging Ras Al Khaimah’s Natural Assets

Marjan’s strategic master planning aims to capitalize on Ras Al Khaimah’s natural assets, paving the way for the emirate’s future expansion. Investors are drawn to the lower development costs, approximately 10% below the regional average, and the promising tourism growth in RAK.

Diverse Investment Opportunities

Marjan provides land acquisition opportunities for various uses, including hotel, residential, retail, leisure, and mixed-use development. This flexibility attracts a diverse range of investors from around the globe, enabling them to tailor their investments to their specific needs and capitalize on the emirate’s growth potential.

Conclusion

Al Marjan Island’s success story is a testament to the robust demand for freehold properties in Ras Al Khaimah. With its strategic developments, world-class amenities, and investor-friendly incentives, RAK is poised to become a leading destination for real estate investment in the UAE.

Interested in exploring investment opportunities in Ras Al Khaimah? Contact us today to learn more about the latest projects and developments.