While Dubai remains a focus for many real estate developers, there has been an expansion in the business activities in the UAE. Al Marjan Island of Ras Al Khaimah has positioned itself as a game changer after gaining traction and investments to alter the dynamics of the property market in the area.
This artificial island covers over 2.7 million square meters and sits 4.5 kilometers off the coast of the Arabian Gulf, providing 23 kilometers of largely unspoiled beach. It is a truly unique place that combines the pleasures of luxury, relaxation, and investment and is quickly attracting more and more investors, tourists, and residents.
Among the highlights is the occurrence of Wynn Resort, which will feature the first registered casino in the UAE, which is set to be opened in the year 2027. The intriguing and historical circumstances of this project have now raised interest to a new level and show the way Ras Al Khaimah would like to develop and not rely solely on its beaches and sun for all its economic benefit.
The UAE also benefits from having no income or corporation tax, which are additional factors appealing to millionaires and institutional investors alike. Al Marjan Island is one of the first regular blockchain users in the real estate industry, which benefits the industry by finding new customers and creating more opportunities for implementing innovation in deals.
The UAE’s largest developers, such as Aldar, DAMAC, Ellington, and many more, have already reserved projects for Marjan Island with resort-like amenities and amazing sea views. Making Marjan Island a vacation hotspot allowing investors a larger investment opportunity.
