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RAK's Al Marjan Island draws in investors

Company behind RAK manmade island development says January sales doubled in 2015

Al Marjan Island, Ras al Khaimah
Al Marjan Island, Ras al Khaimah

RELATED ARTICLES: Hilton Marjan Island in RAK to open in 2014 | Al Marjan infrastructure work to begin next month | First Al Marjan towers due for 2010 delivery

The company behind Ras al Khaimah’s first manmade island project, the $1bn Al Marjan Island, has claimed that January sales have doubled, year-on-year.

The company didn’t quote specifics but attributed the growth in interest in the project to its “unique investment environment” which was “supported by the long-term vision of the government of Ras al Khaimah.

Abdullah Rashed Al Abdooli, Managing Director of Al Marjan Island Company, said; "The heightened investment in Al Marjan Island coincides with rising demand for luxury hotels and residential apartments and, which is an indicator that investors are closely monitoring the UAE real estate market and channelling their investments accordingly.”

Al Marjan Island lies 27km south-west of Ras Al Khaimah city centre and comprises four coral-shaped islands that include a range of marina homes floating villas, hotels, resorts, sports facilities and shopping centres. The island sits 4.5km from the beach and covers 270 hectares.

 

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Construction Week - Issue 747
Aug 03, 2019