Marjan begins RAK freehold property operations

Marjan on Sunday announced commencing operations as the master-developer of a freehold property in the emirate of Ras Al Khaimah.

“The company will operate as an independent entity responsible for leading the development of freehold projects in the Emirate,” Marjan said in a statement.

Commenting on the launch and the formation for Marjan, managing director and CEO Abdulla Al Abdooli said that his company’s vision for the emirate involved supporting Ras Al Khaimah’s diversification with a particular focus on real estate and on attracting tourists and investors from across the globe.

The newly-established Marjan will acquire Al Marjan Island and its real estate activities and assets, the firm highlighted, stressing that it would focus on strategic partnerships with top local and international property firms added to feasibility studies for new freehold projects.

Such freehold properties will play a major role in driving growth in Ras Al Khaimah.

Moreover, Marjan said it was planning to lay the foundation for the emirate’s future freehold development, indicating that it would a phased plan and prioritise the work of each freehold complex underdevelopment.

“Ras Al Khaimah has incredible growth potential and Marjan is positioned as the master-developer of urban projects within a precise and integrated framework that will help attract foreign investments and support economic growth by enhancing the performance of the hospitality, tourism, retail and real estate sectors,” Al Abdooli stated.