MR Properties has announced the launch of two new hotels in in Al Marjan Island the flagship of Marj
Marjan highlights investment opportunities in Ras Al Khaimah at Saudi Arabia Hotel Investment Conference
Ras Al Khaimah, January 23, 2019
- Marjan to put the spotlight on the competitive advantages offered by the Emirate and the investment opportunities in Al Marjan Island
- With lower development cost and high return on investment, hospitality and residential investments in Al Marjan Island bring long-term value for investors
Marjan, the master-developer of freehold property in Ras Al Khaimah, is showcasing the exceptional investment opportunities and the competitive advantages of investing in the emirate, through its participation in the Saudi Arabia Hotel Investment Conference until January 23 at the Marriott Riyadh Diplomatic Quarter.
Marjan will put the spotlight on the residential, hospitality and commercial investment value propositions offered at Al Marjan Island, its flagship mega-development that has already established its credentials as a regional tourism and lifestyle hub.
Among the competitive features that make Al Marjan Island an ideal fit for investors is the assured high return on investment. Return on investment in hospitality developments is about 16% in the waterfront destination that is home already to world-class hotels and resorts, making Ras Al Khaimah, a fast-growing tourist and business centre, highly preferred by international investors.
Eng. Abdulla Al Abdouli, Managing Director and Chief Executive Officer of Marjan, said: “The Saudi Arabia Hotel Investment Conference offers a strong platform for us to highlight the opportunities, particularly in hospitality development projects, in Al Marjan Island and Ras Al Khaimah. As our first participation since our mandate as the master-developer of freehold properties, we will leverage our participation to present the diverse breadth of investment choices in the emirate.
“Al Marjan Island has leading hospitality brands operating high-end resorts, and several prestigious brands developing their prestigious hotel projects. Investors in Saudi Arabia seeking a long-term and high-value investment proposition will find Al Marjan Island and Ras Al Khaimah as a good fit to grow their portfolio.”
Currently, Al Marjan Island has over 1,600 operational five-star hotel keys, including Rixos Hotels, Hilton Hotels & Resorts and Accor Hotels brands, and more than 2,000 residential units including Bab Al Bahar residential and Pacific by Select Group.
Marjan offers international investors benefits including 100% foreign ownership, 100% repatriation of capital & profits within Marjan’s destinations. Other incentives include no corporate tax, 0% personal tax and a low VAT of 5%.
Marjan, working with Ras Al Khaimah government entities, had put the global spotlight on the emirate and on Al Marjan Island with the Ras Al Khaimah New Year’s Fireworks that won two Guinness World Records for the ‘Longest chain of fireworks’ and the ‘Longest straight line of fireworks’.
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