FORBES MIDDLE EAST // AL MARJAN ISLAND
Architect Abdullah Rashed Al Abdooli, Managing Director of Al Marjan Island Company talks to us about the iconic development in Ras Al Khaimah that covers 2.7 million square meters, including a 23-kilometer beach.
Can you tell us a bit about what you offer to investors and visitors?
Al Marjan Island provides an investment opportunity as
unique as its landscape, offering exceptional accommodation
and leisure facilities that provide unique lifestyle choices. It
gives investors:
• 0% Personal Tax
• 0% Income Tax
• 100% Foreign Ownership
• No Foreign Exchange Controls
• 100% Repatriation of Capital and Profits
• 100% Ready Infrastructure
• 100% Availability of Utilities Services
• Availability of Labour Housing
• Regulated by Ras Al Khaimah Real Estate Regulatory Authority (RERA)
What makes you stand out from your competitors?
The island location in the Arabian Gulf, with unique beachfront
and waterfront facilities, set it apart from competitors. It
is supported by world-class utilities and infrastructure.
The island is also connected to three main highways, E11,
E311 and E611, and is close to three international airports:
15 min from Ras Al Khaimah, 25 min from Sharjah, and 45
min from the busiest airport in the world, Dubai international
airport.
How do you create and encourage sustainable living?
Through the joint efforts of our board members, staff, contractors,
consultants, investors and development partners, we
aim to create and encourage sustainable community living.
We are creating landmark developments on Al Marjan
Island by adopting innovation in technology and operational
excellence and applying it to the environment. Our team is focused
on creating world-class sustainable real-estate developments
for residents, tourists, developers and investors.
By adopting global best practice in areas such as LED
lighting, low water landscaping, recycled water and maintenance
of the marine habitat, we are committed to delivering
a large-scale integrated community that is relevant to the
market. We are also working closely with key government
agencies to deliver sustainable living and environmentally
friendly outcomes.
Most recently, we awarded the contract for the fourth
flushing channel to China Harbour Engineering Company.
This will improve water circulation and enhance the aesthetics
of the island, therefore ensuring high long-term returns on
investment. This unique flushing channel is a key component
of our comprehensive marine development strategy to create
crystal-clear water throughout the development and maintain
the highest standards of marine tourism for visitors and residents
of the island.
This initiative further strengthens our continued commitment
to sustainable and environmentally friendly development.
What key projects or opportunities do you have coming up
in future?
Recently Diamonds International Corporation, a Czech diamond
trading company, announced plans for a $136 million
project on the island. The development will include a 300-
room, five-star hotel, 340 residential apartments and 40 water
villas. Construction is expected to begin next year and the
project is to be ready in three years.
