Wed 13-03-2019 13:33 PM
RAS AL KHAIMAH, 13th March, 2019 (WAM) -- Marjan, the master-developer of freehold property in Ras Al Khaimah, is highlighting the emirate's high-value investment opportunities at MIPIM, the premier real estate event being held until 15th March, in Cannes, France.
In addition to highlighting the competitive advantages of investing in Al Marjan Island, the flagship waterfront mega-development by Marjan, the company is also putting the spotlight on the attractive benefits offered by Ras Al Khaimah for international investors.
Abdulla Al Abdouli, Managing Director and CEO of Marjan, commented, "Through our participation at MIPIM 2019, we are reaching out to global investors and presenting them the value-add they stand to gain by investing in Ras Al Khaimah. One of the fastest growing residential, touristic and business destinations in the region, the emirate is today a preferred business and leisure hub that appeals to international guests, underlined by the consistent growth in tourist arrivals."
With attractive benefits awaiting investors, including high return on investment, Ras Al Khaimah and Al Marjan Island assure long-term value, especially for hospitality and real estate investments. "MIPIM offers us the platform to engage with international property leaders, developers and industry professionals," he added.
Ras Al Khaimah has a diversified economy with real estate, tourism, manufacturing and trading as key growth sectors. In 2018, S&P Global ratings affirmed its "A/A-1" for Ras Al Khaimah, adding that the emirate’s outlook remains stable. Fitch also affirmed the emirate’s rating at "A" with a stable outlook, making Ras Al Khaimah an attractive and secure place in which to invest.
Ranked 45th in World Bank’s Doing Business Survey as the friendliest territory in the world in which to do business, putting it in the top two in the Gulf region, Ras Al Khaimah welcomes investors with several benefits including: 100 percent foreign ownership, 100 percent repatriation of capital and profits; 100 percent availability of utilities; and 0 percent corporate and personal tax.
The hospitality sector has recorded significant growth with tourist arrivals increasing 9.9 percent in 2018 to over 1.07 million tourists. Ras Al Khaimah is now on track to welcome 1.1 million visitors this year and 2.9 million tourists by 2025. In addition to its rich cultural offering, Ras Al Khaimah appeals to visitors for its beaches, adventure sports and the world’s longest zipline, among others.
For investors, Ras Al Khaimah offers the advantage of equity IRR of 16.1 percent for hospitality assets and 20 to 30 percent on residential assets. The emirate offers the advantage of low development cost, which is approximately 10 percent lower than the regional average.