Marjan, the master-developer of freehold property in Ras Al Khaimah, showcased investment opportunities and the competitive advantages of investing in the emirate at the Saudi Arabia Hotel Investment Conference (SHIC).
Marjan shed light 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 per cent 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.
“SHIC offers a strong platform for us to highlight the opportunities, particularly in hospitality development projects, in Al Marjan Island and Ras Al Khaimah,” managing director and CEO, Marjan, Eng. Abdulla Al Abdouli remarked. “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 currently 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.
Al Abdouli continued: “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.”
Marjan offers international investors benefits including 100 per cent foreign ownership, 100 per cent repatriation of capital and profits within Marjan’s destinations. Other incentives include no corporate tax, zero per cent personal tax and a low VAT of five per cent.