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Ras Al Khaimah, UAE: Marjan, the master-developer of freehold projects in Ras Al Khaimah, is showcasing the attractive investment opportunities in Ras Al Khaimah, particularly in the property and hospitality sectors, at Expo Real, Europe’s largest real estate and investment trade fair.
Held at Messe Munich Exhibition Centre in Germany, Expo Real brings together industry stakeholders from across the world as well as high net worth investors keen to explore investment opportunities globally in the real estate sector. Marjan is not only presenting the investment value proposition offered by Al Marjan Island, its flagship mega-development, but also the enormous value that Ras Al Khaimah offers for investors through assured returns and yields.
According to industry estimates, investing in Ras Al Khaimah offers property investors the dual advantage of 20 to 25 per cent lower development cost and a return on investment of about 15.8 per cent on hospitality and 20 to 30 per cent on residential projects. An annual 10 per cent yield is assured on residential leasing too.
All this is in addition to the benefits offered by Marjan, including 100 per cent foreign ownership, and 100 per cent repatriation of capital & profits within its destinations. Other incentives include no corporate tax and zero personal tax. Additionally, there will be no foreign exchange contracts reducing extra costs and any uncertainties.
Arch. Abdulla Al Abdouli, CEO of Marjan, said: “Expo Real serves as a gateway to investors from Europe, who are increasingly focused on global investments that assure long-term returns. With our strong track-record of attracting high value investors from Europe and other parts of the world to Ras Al Khaimah, we see our participation in the event driving more foreign investments. The value-add that our developments – as well as the business environment of Ras Al Khaimah offers – is among the best in the region, especially for hotel developers and operators and real estate developers.”
Marjan is presenting the diverse facets of Al Marjan Island to visitors, who represent the entire cross-section of the global real estate sector. Owners and investors in hospitality and real estate projects, developers of new assets, sovereign fund representatives and hotel groups are among the key visitors, to whom Marjan will highlight the unique features of Ras Al Khaimah.
Currently, Al Marjan Island has over 1,600 operational five-star hotel keys, including Rixos Hotels, Hilton Hotels & Resorts and Accor Hotels brands, and more than 2,000 residential units including Bab Al Bahar residential and Pacific by Select Group. More than 1,680 hotel rooms are under construction by leading global developers. Further, Uniestate Living Bay, a mixed-use project, has finished the construction of 1,100 homes. Another 2,400 hotel-, residential- and mixed-use units are under design review with the projects planned to be completed by 2025.
Among upcoming hotel projects, Al Marjan Island is on track to open the Hampton by Hilton, the largest under the brand in the world, next year. Nearly 40 per cent construction is over and work is progressing as per schedule. The 4-star affordable and contemporary resort, an investment by MR Properties, provides exclusive access for guests to a 450-metre long beach and will have 515 interconnecting rooms and several world-class amenities. MR Properties has also announced Conrad Marjan Island Resort, which will offer 120-guest rooms including beach villas and water villas.
Mövenpick Resort Al Marjan Island, which has a total development value of AED 543 million, is scheduled to open in 2021. RAK AMI Hotel, a company based in Ras Al Khaimah with the mission to develop and manage hotels, is developing the hotel, which will add 418 hotel rooms, including 295 rooms, 95 suites and family rooms, and 28 chalets. Spanish Barceló Hotel Group has announced that it will operate a 500-room, five-star resort hotel in the third quarter of 2021 on Al Marjan Island.
In 2018, Ras Al Khaimah exceeded its target of welcoming 1 million visitors, and now with a new Destination 2019-2021 strategy, the Emirate aims to attract around 1.5 million visitors by 2021, highlighting the investment potential offered by Ras Al Khaimah.
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