UAE: Al Marjan Island’s 12,000 Residential Units in RAK Sold Out
Demand for freehold properties has surged across Dubai, Abu Dhabi, Sharjah, and Ras Al Khaimah, Al Marjan Island in Ras Al Khaimah is now fully sold out, with developers focusing on community development projects that will serve as new “lifestyle destinations on the mountains,” according to a senior official.
New Developments Announced
CEO of Marjan, the master developer of freehold properties in Ras Al Khaimah, revealed plans for 15,000 hotel keys and 12,000 residential units on Al Marjan Island.
“Al Marjan Island is already sold out, and following this success, we are now working on diverse projects across several locations to create world-class master-planned communities that will serve as the ‘downtowns’ of the future, in addition to new lifestyle destinations on the mountains.
A Successful Beach Resort-Style Community
He highlighted the success of Al Marjan Island as a sustainable beach resort-style community. The destination comprises 2.7 sq km of reclaimed land, 15,000 planned hotel keys, 7.8 km of pristine beaches, 12,000 planned residential units, 23 km of waterfront, and 450 holiday homes.
Surge in Freehold Property Demand
Demand for freehold properties—both residential and commercial—has surged across Dubai, Abu Dhabi, Sharjah, and Ras Al Khaimah, driven by an exceptional inflow of foreign investments post-pandemic.
Island Amenities and Global Prominence
Al Marjan Island consists of four islands with 7.8 kilometers of pristine beaches and 2.7 million sqm of reclaimed land. It houses six operational hotels, including Rixos Bab Al Bahr, DoubleTree by Hilton, Movenpick Resort, Hampton, Pullman Resort, and Radisson Resort, offering over 3,000 room keys.
The Island gained global prominence with the announcement of the launch of the US gaming Wynn Resort. It offers incentives like 100 percent foreign ownership, zero personal tax, 100 percent repatriation of capital and profits, and long-term residency through investment, attracting local and foreign investors.
Recent Major Branded Projects
In 2024, several major branded projects were launched, including Tonino Lamborghini Residences, Manta Bay, Dh4-billion Sora Beach Residences, and an Aston Martin-branded project. In July, Marjan launched La Mer by Elie Saab, the first Elie Saab branded residences at the premium destination, developed by UAE-based Arte Developments.
Leveraging RAK’s Natural Assets
“Our strategic master-planning approach is to leverage Ras Al Khaimah’s natural assets and lay the foundation of the Emirate’s future expansion.
Investment Opportunities
Marjan offers land acquisition for various uses, including hotel, residential, retail, leisure, or mixed-use development. Investors can capitalize on lower development costs and tourism growth to achieve attractive returns in the northern emirate.
“Over the past few years, the emirate has witnessed tremendous growth in its hospitality market, and with low development costs—approximately 10 percent lower than the regional average—attractive returns are achievable.
Commitment to Sustainability
Al Marjan Island’s success also highlights a commitment to sustainability. The developers have emphasized eco-friendly practices, ensuring that the island’s growth does not compromise its natural beauty. This approach has attracted eco-conscious investors and tourists, further boosting the island’s reputation as a premier destination.
Future Prospects
Looking ahead, the development of new projects on Al Marjan Island is expected to continue at a rapid pace. The combination of strategic location, attractive investment incentives, and a focus on high-quality, sustainable development positions Ras Al Khaimah as a leading real estate and tourism hub in the region.
Reference: Khaleej Times
