Al Marjan Island to showcase investment opportunities
Posted on 7th March 2018
According to *Tradearabia news report, Al Marjan Island, a world-class luxury resort destination in Ras Al Khaimah, is showcasing investment opportunities within the flagship development and in the emirate at the International Hotel Investment Forum in Berlin, Germany.
Al Marjan Island, a patron of the event, will highlight the remarkable evolution of the master-planned destination that will feature beachside resorts, branded and non-branded residences and leisure attractions.
The development pipeline and the long-term expansion plans for the destination will also be presented to underline the investment opportunities offered for the hotel industry within the development.
This further builds on the record growth in tourist arrivals to Ras Al Khaimah in 2017, with the number of tourists going up 19 per cent over 2016. According to the Ras Al Khaimah Tourism Development Authority, Germany, Russia, the UK and India were the top international source markets. Hotel occupancy also recorded growth to 73.6 per cent with the average length of stay increasing by 2.71 per cent to 3.41 days.
At Al Marjan Island, international investors can purchase land plots with development rights. The infrastructure for the land is already developed under a plug-and-play model. Most of the plots are designated for residential units, boutique hotels, resort hotels, community facilities and retail.
Eng. Abdullah Al Abdooli, CEO of Al Marjan Island, said: “One of the increasingly sought-after hospitality destinations in the UAE, Al Marjan Island is a vibrant tourism and lifestyle development that offers tremendous value for investors. Through our participation at the International Hotel Investment Forum in Berlin, we are putting the spotlight on the high-value investment opportunities for European and international investors within Al Marjan Island and in Ras Al Khaimah. They will be part of one of the fastest-growing tourist and hospitality hubs in the Middle East region as Ras Al Khaimah consistently records growth in tourism and hotel performance.”
With its distinctive positioning as an attractive beach resorts destination, Al Marjan Island complements the focus of the Ras Al Khaimah government to establish the emirate as one of the fast-growing business and leisure hubs in the region. With one of the largest economic zones housing more than 13,000 companies, Ras Al Khaimah offers investors 100 per cent ownership and zero income tax.
Ras Al Khaimah is making significant gains in tourism with its extensive coastline, golden sand beaches, natural mangroves, the UAE’s tallest mountain which is home to the longest zip line in the world, and a rich cultural heritage highlighted by the archaeological findings. According to the Ras Al Khaimah Tourism Development Authority, tourist arrivals are set to grow from 1 million this year to over 2.9 million annually by 2025, driving the demand for hotels and resorts.
With a GDP growth of 4.5 per cent in 2016, higher than the national average, Ras Al Khaimah’s hospitality sector has recorded sustained growth. From 2009 to 2016, room nights demand for five-star hotels increased by a CAGR of 13.83 per cent while room night supply grew 11.59 per cent.
Significantly, Al Marjan Island is regarded as the project of choice for property investors and developers who are seeking exceptional residential and leisure amenities. With the impressive growth in the number of tourist arrivals as well as Ras Al Khaimah’s emphasis on promoting industrial diversification, the emirate is an ideal fit for European investors.
An additional 15,000 hotel units are required in the next seven years to serve the growth in tourist arrivals, with the sector set to record a growth of 23 per cent per annum. About 7,000 new hotel rooms are set to be added, mostly in the five-star beach resort category, in the next three years (by 2021), with nearly 71 per cent to be delivered on Al Marjan Island. Underlining the robust performance of hotels, RevPAR figures have increased by over 5 per cent in the last three years.
Only 15 minutes from the Ras Al Khaimah International Airport and 45 minutes from the Dubai International Airport, Al Marjan Island comprises four islands – Breeze, Treasure, Dream and View. The entire development is served by a well-integrated road network that connects to all key cities of the UAE,
With 7.8 kilometres of pristine beaches, 23 kilometres of waterfront, 6,500 planned residential units, 8,000 planned hotel rooms, 400-room wellness retreats and 600 holiday villas, Al Marjan Island has an evolved hospitality sector already with Breeze Island being home to Rixos, DoubleTree by Hilton and Bab Al Bahr – exceptional hotels -that offer the perfect harmony of luxury and nature.
*News source: http://tradearabia.com/news/CO...Back to all Construction News
Share this story: