Al Marjan Island in Ras Al Khaimah remains fully sold out while new community development projects are being planned corresponding to the ‘downtowns’ as well as new ‘mountain lifestyle destinations,’ a top official said.
Speaking on Al Marjan Island’s development, Arch Abdulla Al Abdouli, the chief executive office of Marjan- a master developer of freehold properties in Ras Al Khaimah revealed that there are plans for 15, 000 hotel keys and 12,000 units in the residential building.
“Al Marjan Island is fully sold out now, further, after this success, the company is planning distinct projects in many places to develop international standard integrated urban spaces which will be the ‘heart’ of the new hi-rise developments along with new lifestyle places on the mountains,” Al Abdouli told in an interview.
“We have been Ambitious and very successful in developing World Class Sustainable beach resort style community at Al Marjan Island. Today, the destination has 2. 7 sq km of Reclaimed land, 15,000 proposed hotel keys, 7. 8 Km of pristine sandy beaches, 12,000 proposed residential unit, 23 Km of waterfront and 450 proposed holiday homes,” he added.
Purchasing freehold residential and commercial properties has never witnessed such tremendous boost in its demand within Dubai, Abu Dhabi, Sharjah as well as Ras Al Khaimah region after COVID-19 as foreign inflow persisted to flow in exceptionally.
Al Marjan Island is made up of four islands with 2.7 million sqm of reclaimed land. On the plot, it manages six active hotels which include; Rixos Bab Al Bahr, DoubleTree by Hilton, Movenpick Resort, Hampton, Pullman Resort, and Radisson Resort. Taken as a whole, they hold more than 3,000 room keys between them.
The Island – which suddenly came to international limelight due to the announcement of opening of the US gaming Wynn Resort – has 100 percent free hold for foreign investors, no personal bene, full remittance for capital and profit and permanent residency for investment are among some of the facilities it provides to the investors.
Island has attracted a lot of interest from the locals and international investors since the start of several of the today’s leading hospitality chains and property developers ventures in it.
In 2024, some of the major branded projects that hit the market included Tonino Lamborghini Residences, Manta Bay, Dh4-billion Tonino Lamborghini, Residences in Collaboration with Arista Developments, Dh4-billion Sora Beach Residences, Aston Martin branded Project and others.
Marjan in July unveiled La Mer by Elie Saab, the first Elie Saab branded residences at the ultra-luxury location. This waterfront property is proposed to be constructed by UAE based Arte Developments at Al Marjan Island. It comprises of three tower with a complex connectivity of the two lobbies and it has numerous facilities within the compound.
Capitalizing RAK’s natural possessions
“The concept of our strategic master planning is to capitalize on Ras Al Khaimah’s natural advantages and to build the framework for the further growth of the Emirate, “elucidated Al Abdouli.
Marjan sells land for investment and development purposes for hotel, residential, retail, leisure or mixed-purpose project development.
“These are perfect specifications for existing and new developers who can obtain their hands on virgin land that is open for any modification,” Nyamweya said, noting that the main mandate of Marjan is to avail appropriate plots depending on the needs of the investor including but not limited to the development rights on the land use and Gross Floor Area (GFA) which is agreed with the investor on the investor’s specifications.