AL MARJAN ISLAND – INVESTOR’S GUIDEThe artificial archipelago of Ras Al Khaimah (RAK) is one of the most promising areas for investment in the UAE real estate market in 2023-2024.
7 FACTS ABOUT AL MARJAN ISLAND
➊ Located in the south of the emirate, near the border with um Al Quwain, an hour’s drive from DXB airport.
➋ Composed of 4 islets arranged in the shape of coral. Total area – 2.7 km².
➌ The islets are called: Breeze Island, Dream Island, Treasure Island and View Island.
➍ It represents 45% of the total 5-star rooms in the emirate, concentrated in hotels of international brands: Rixos, DoubleTree and Hampton by Hilton, Movenpick, Radisson.
➎ By 2027, the first casino in the United Arab Emirates will open in this area, with a 1,500-room hotel and a theater. This is the largest foreign direct investment of its kind in Ras Al Khaimah and the first project of global operator Wynn Resorts in the MENA region. The cost of the project is $3.9 billion.
➏ Foreign investors can obtain full real estate ownership (freehold). The properties are mainly residential and hotel apartments.
➐ Currently, prices for ready-made properties near the sea are significantly lower than in Dubai. However, with increased demand, prices are already rising (+10% in the first half of 2024).
