Al Marjan Island Calling in the Gulf : Great Opportunity for Investments

almarjanislandBy Accommodation Times News Services

Al Marjan Island, a mixed use development project administered by Al Marjan Island LLC, who are

master developers of the project under the able stewardship of Arch. Abdullah Rashed Al Abdooli,

Managing Director.

The four islands of Al Marjan are home to a 3 world class hospitality properties (Rixos, Double Tree

by Hilton & Marjan Island Resort & Spa (managed by Accor) and forthcoming developments like

hotels, villas, apartments, well-being centres, community facilities, a tourist port, restaurants, shops

and lifestyle hotspots. Propensity to spend of those visiting the Island is high and it is targeted as a

destination for Leisure, Luxury & Lifestyle.

The strategic location of the Island makes it an ideal investment destination for Indian investors;

paired with the freehold facility that makes investment not only secure (as the title ownership of the

property is with the investor), but also TAX FREE!  Additionally, there is no restriction on the

repatriation of Capital and Profits. The success of the Island project so far is testimony to the support

and advise extended by Al Marjan Island LLC to its investors and developers.

Al Marjan Island LLC works as a partner with its investors and other stakeholders thereby pre-

empting most possible causes for delays and postponements. Development of projects within a

stipulated period of time ensures that the island as a whole reaches set milestones thereby

delivering time-bound success and growth to investors, owners.  This has been a bedrock of genuine

investors making the Island their preferred investment destination.

Additionally, Ras Al-Khaimah Tourism Development Authority (RAK TDA) has chalked out an

ambitious plan to attract one million visitors to Ras Al-Khaimah by the end of 2018, aiming to boost

the tourism revenues to AED 4 billion and, Al Marjan Island is gearing up to be a key pillar in realising

this vision. The RAK TDA new strategic plan targets a more diversified tourism mix that ensures more

demand stability and reduces exposure associated with a small number of markets. It expects 10-

15% growth in the number of tourists from India.

 

Real estate Investment opportunities in Al Marjan Island:

? About 1.15 mn SqM of area is available for investors, developers to construct, develop

different categories of Real Estate; from Hospitality to Residential to Retail and/or

Commercial projects.

According to a recent study by Colliers International, investments made in Al Marjan Island

are delivering a 16 odd percent Equity IRR, which is on par with other similar, established

projects in the region

? The high return on investments is due to the affordable land prices, competitive

operational costs, and subsequent high levels of profitability. This despite the premium

attached to waterfront properties.

Benefits for Real Estate Developers and Investors

? 0% Personal Tax

? 0% Income Tax

? 100% Foreign Ownership

? No Foreign Exchange Controls

? 100% Repatriation of Capital and Profits

? 100% Ready Infrastructure

? 100% Availability of Utilities Services

? Availability of Labour Accommodation

? Regulated by Ras Al Khaimah Real Estate Regulatory Authority (RERA)

? Residency Visa for Homeowners.

 

Ras Al-Khaimah’s competitiveness as an investment destination

? RAK enjoys a diversified economy in which no single segment exceeds more than 20% of

GDP. RAK's major industries are tourism, commodity trading and manufacturing. Thereby

giving a boost to real estate development opportunities

? It is not dependent on Oil as a driver of the Economy

? Currently RAK is growing at 4.5% and has maintained this growth rate in 6 out of  the last 8

years- Source: RAK’s Statistical Year Book

? Due to its stability, affordability, and lack of reliance on oil, RAK has the potential to attract

investors that are averse to taking risk in a volatile market





Similar Articles

Leave a Reply

Top