Business & Money | Saturday 16 September, 2017 12:15 pm |

Top UAE investors and developers have invested in more than 6 million square feet of land in Al Marjan Island developing more than 16 Million square feet in hospitality and residential projects as per a report shared by Al Marjan Island. The report confirms that UAE companies are in the lead with 61% outperforming investors of all other nationalities.

 

While UAE buyers continue to make up the largest contingent of customers for Al Marjan Island, Kuwaiti investors constitute 10 per cent with 1 million square feet of land followed by India and China.

 

“More than 12 nationalities have invested in Al Marjan Island. This is a reflection of the confidence regional and international investors have in our profile and RAK’s realty sector, which is characterised by a strong regulatory system that provides safety and security for all parties,” said Architect Abdullah Al Abdooli, Managing Director of Al Marjan Island.

 

Al Marjan Island witnessed investments from publicly listed companies, family businesses and holding companies and high net worth individuals across varied sectors.

 

Some of the top UAE investments were represented by leading names including Emaar Properties, Mohammad Oman Bin Haider Holding Group, MR Properties; FAM Holding; SuperCasa , RAK AMI Hotels, among others.

 

The high-worth investments not only showcase a high-level of interest in Al Marjan Island, but also demonstrate the trust investors in the UAE place in Ras Al Khaimah government for its significant efforts to establish a healthy investment climate.

 

UAE based RAK AMI Hotels are developing Ras Al Khaimah’s first Mövenpick Hotel & Resort on Al Marjan Island. The resort will boast around 420 rooms, in addition to world-class entertainment attractions, restaurants, cafes and fitness facilities.

 

Emaar Properties will develop 2 million square foot project, including high-end residential, hospitality, and retail components in Al Marjan Island aimed at driving growth in the tourism, hospitality, and retail sectors.

 

Additionally, Mohammad Oman Bin Haider Holding Group a UAE conglomerate group has announced a mega project on Al Marjan Island with built-up area of 1.4 million square feet, featuring a five-star luxury hotel, luxurious apartments, commercial buildings and retail area, valued at Dh1 billion.

 

Earlier this year, Dubai’s SuperCasa Development Limited based in Dubai signed an agreement with Millennium Hotels and Resorts to develop a new five-star property at Al Marjan Island. The 339-key resort is located on a 75,000-square feet plot and will have access to a private beach, two swimming pools, a fitness centre, treatment rooms and meetings and event spaces

 

MR Properties, one of Ras Al Khaimah’s leading developers that built in 2014, 723 keys Double Tree by Hilton the largest hotel by number of keys in the northern Emirates, has also recently unveiled its newest investment on the Island with 500 room beachfront hotel total area size 117,176 square feet and will feature 4 F&B outlets, 450 metres of white sandy beach, and large pool and plenty of recreation facilities.

 

Manazel Real Estate, Sharjah based development company established its first investment in the Emirates of Ras Al Khaimah with their iconic development Marjan Spa and resort operated by Accore group, a mixed used development totally 233 hotel key and more than 300 residential units fully operational since 2014

 

Moreover, Al Marjan Island will soon be home to an up-scale property by FAM Holding. FAM Holding has acquired a plot on Al Marjan Island to develop Park Regis Al Mahra Resort. The prolific property will have guest rooms, food and beverage outlets meeting room, swimming pool, wellness club, spa and gym, elegant lobby and VIP check in areas.

 

“We are pleased to have witnessed such a high level of interest from local and global investors. While the investments continue to grow, we’ve designed several new incentives especially for Cityscape Global that will innumerable offer gains and promising returns to potential investors,” added Architect Abdullah Al Abdooli.

 

“Global hospitality brands are positive indicators for the growth of Al Marjan Island and Ras Al Khaimah. They’ve not only helped us to attain a significant position on the global map, but have been the key drivers for several other investments,” said Architect Abdullah Al Abdooli.

 

“Domestic and regional investments combined together have helped secure strategic market value for Al Marjan Island. Ras Al Khaimah’s realty sector is forging ahead towards more maturity and with Al Marjan Island continuing to launch new projects and developments; it effectively contributes to the development of the emirate,” concluded Architect Abdullah Al Abdooli.