Al Marjan Island, the main developer of freehold areas in Ras Al Khaimah, recently presented attractive value propositions at the 2018 World Forum for Foreign Direct Investment in Liverpool, UK.
The investment opportunities within Al Marjan Island and the competitive advantages offered by the development were highlighted at the three-day event, attended by ministers, high-ranking government officials and international business leaders from over 41 countries.
Engineer Abdullah Al Abdooli, CEO of Al Marjan Island, said: “The World Forum for FDI in the UK is a significant platform that brings together high-level decision makers on investment opportunities across high-growth markets such as the UAE. We underlined the success of our nation’s transformation as a fully-diversified economy and also presented the value to be gained through investments in Al Marjan Island in sectors including hospitality, residences and more. We see these international platforms as central in reaching out to international visitors and offering them a truly distinguished opportunity for FDI.”
Ras Al Khaimah recorded a growth in GDP of 4.5 per cent in 2016, higher than the national average. Tourist arrivals to Ras Al Khaimah grew 19 per cent in 2017, and is expected to reach 1 million this year. The A/A-1 sovereign rating with stable outlook and the projected GDP growth of about 4.5 to 5 per cent serve as strong incentives for long-term investors. The lower development costs – at about 10 to 25 per cent than the regional average, and the impressive 16 per cent growth in the number of tourists to the emirate are also indicators of the potential that it can offer.
Ras Al Khaimah also has one of the largest economic zones in the region with more than 13,000 companies that enable investors to have 100 per cent ownership and zero income tax. Only four hours flying distance away from 31 per cent of the world population and eight hours from 76 per cent of the global population, Ras Al Khaimah offers excellent airline connectivity. The emirate supports tourism and resort development and features the UAE’s tallest mountain offering spectacular views, and a rich cultural heritage.
Benefits to international investors include zero per cent income and personal tax, 100 per cent foreign ownership, no foreign exchange controls, 100 per cent repatriation of capital and profits, 100 per cent ready infrastructure and 100 per cent availability of utilities services. Al Marjan Island is also regulated by the Ras Al Khaimah Real Estate Regulatory Authority, ensuring peace of mind for investors that their investment is in safe hands with accountability and transparency.
Al Marjan Island is only 15 minutes away from the Ras Al Khaimah International Airport and 45 minutes from the Dubai International Airport. In all, the master-planned community will feature 7.8 km of beaches, 23 km of waterfront, 6,500 planned residential units, 8,000 planned hotel rooms, 400-room wellness retreats and 600 holiday villas.
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