Al Marjan Island Represent Ras Al Khaimah in the Emirate at MIPIM 2018

Press release
Published March 11th, 2018 - 08:07 GMT
Al Marjan Island will put the spotlight on the competitive advantages offered by the Emirate of Rash Al Khaimah.
Al Marjan Island will put the spotlight on the competitive advantages offered by the Emirate of Rash Al Khaimah.

Al Marjan Island, the main developer of freehold areas, will exclusively represent Ras Al Khaimah to highlight the Emirate’s investment opportunities at MIPIM, the world’s leading property market at Palais des Festivals, Cannes, France, from March 13 to 16, 2018.

Al Marjan Island will put the spotlight on the competitive advantages offered by the Emirate of Rash Al Khaimah, which has recorded a growth in GDP of 4.5 per cent in 2016, higher than the national rate. With the government committed to developing the Emirate as a business and tourist hub in the region, visitors to MIPIM can gain insights on the differentiating strengths of the Emirate and Al Marjan Island at the Riviera R-G10 exhibition pavilion.

Eng. Abdullah Al Abdooli, CEO of Al Marjan Island, said: “The vision of His Highness Sheikh Saud Bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, for the Emirate will cement its reputation as a global hub for property and hospitality investments that assure strong returns. Al Marjan Island is a central component of the growth strategy of the Emirate.

“With a focus on tourism and real estate investments, Al Marjan Island is offering investors an unmatched opportunity to be part of the fastest growing tourist destination in the region, which recorded 19 per cent increase in visitor arrivals in 2017. We see significant demand from investors across the world, complementing the global interest in the emirate as a destination for tourism and investment. At MIPIM, we look forward to interacting with international investors, especially from Europe, and to present to them the value proposition of Ras Al Khaimah as well as Al Marjan Island,” he added.

Established in 1990, MIPIM gathers the most influential international property developers and is expected to host over 24,200 participants from 100 countries. Al Marjan Island has a dedicated pavilion that will present the investment landscape of Ras Al Khaimah and the opportunities offered at the master-planned development to feature beachside resorts, luxury residences and leisure attractions.

Eng. Abdullah Al Abdooli added: “The strength of Ras Al Khaimah is its diversified economy with a focus on promoting tourism, trade and manufacturing. The A/A-1 sovereign rating with stable outlook and the projected GDP growth of about 4.5 to 5 per cent serve as strong incentives for long-term investors.”

With its focus on offering a new era of luxury, lifestyle and hospitality services, Ras Al Khaimah also has one of the largest economic zones in the region more than 13,000 companies that enable investors to have 100 per cent ownership and zero income tax. With population growing 3.6 per cent in 2016 over the previous year, the Emirate continues to welcome professionals from across the world, and the population is expected to grow 11 per cent in less than five years. Only four hours flying distance away from 31 per cent of the world population and eight hours from 76 per cent of the global population, Ras Al Khaimah offers excellent airline connectivity.

Ras Al Khaimah supports tourism and resort development and features the UAE’s tallest mountain offering spectacular views, and a rich cultural heritage. Tourist arrivals are set to grow from 1 million this year to over 2.9 million annually by 2025, according to the Ras Al Khaimah Tourism Development Authority, driving the demand for hotels and resorts.

Al Marjan Island is the sought-after investment destination offering international investors the option of purchasing land plots with development rights. The infrastructure is already developed under a plug-and-play model. Most of the plots are designated for residential units, boutique hotels, resort hotels, community facilities and retail.

Al Marjan Island offers innumerable benefits to international investors such as zero per cent income and personal tax, 100 per cent foreign ownership, no foreign exchange controls, 100 per cent repatriation of capital and profits, 100 per cent ready infrastructure, 100 per cent availability of utilities services, and residency visa for homeowners. Further, Al Marjan Island is regulated by the Ras Al Khaimah Real Estate Regulatory Authority ensuring peace of mind for investors that their investment is in safe hands with accountability and transparency.

According to reports, an additional 15,000 hotel units are required in the next seven years to serve the growth in tourist arrivals. About 7,000 new hotel rooms are set to be added, mostly in the 5-star beach resort category, in the next three years. Of these, nearly 71 per cent will be delivered on Al Marjan Island.

Al Marjan Island is only 15 minutes away from the Ras Al Khaimah International Airport and 45 minutes from the Dubai International Airport. In all, the master-planned community will feature 7.8 kilometres of beaches, 23 kilometres of waterfront, 6,500 planned residential units, 8,000 planned hotel rooms, 400-room wellness retreats and 600 holiday villas.

Al Marjan Island had recently won the GUINNESS WORLD RECORDS for the ‘Largest aerial firework shell’ that marked the New Year’s Eve celebration which welcomed hundreds of thousands of guests.

Background Information

Al Marjan Island

Ras Al Khaimah - an emirate that enchants each and every one who visits. Its rich, authentic history dating back to 7,000 years ago is surrounded by the UAE’s largest and most scenic mountains, white pristine sandy beaches and its breathtaking terracotta desert. A short drive from the cosmopolitan city of Dubai, Ras Al Khaimah takes its visitors back to its traditional Arabian roots, offering the experience of savoring the mixture between a modern lifestyle and the simple yet cultural ways of society.

 

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