The next big location for branded homes in the United Arab Emirates is Al Marjan Island in Ras Al Khaimah, since there is a decent amount of demand for these kinds of developments.
Demand for the artificial island has skyrocketed, particularly after the $3.9 billion (Dh14.3 billion) Wynn Al Marjan Island resort opened.
“We view Al Marjan in Ras Al Khaimah to be the next big branded residences market in UAE, more to the attention and attraction around the Wynn Gaming resort. Branded residences do define a certain level of quality and highest standards to the purchasers. UAE has definitely set a trend for branded residences in global resale estate trends, and as a tourist addition with the added value of the Wynn resort Ras Al Khaimah will look to capitalise on this segment for international investors,” said Jackie Johns, managing partner at Christie’s International Real Estate Ras Al Khaimah.
Wynn Resort building has already commenced and is expected to be finished in 2026.
International Real Estate Christie’s The recently unveiled Dh700 million branded property Masa Residence on Al Marjan Island is managed and sold by Christie’s International Real Estate subsidiary Ras Al Khaimah. The project has shown exceptional growth over the past year and is drawing some of the biggest names in the world.
The Masa Residence will have 394 total units, comprising villas and apartments with 1-2 bedrooms. Construction is expected to begin in January 2024 and be finished by the end of 2026.
Masa Residences, an elite branded residential complex in Ras Al Khaimah, was introduced by Durar, a high-end real estate developer in the United Arab Emirates. Investors may expect significant capital gains and beachfront villas with top-notch amenities.
Unprecedented demand is being seen for waterfront properties on artificial islands in the United Arab Emirates, including Al Marjan Islands, Palm Jumeirah, and the recently opened Palm Jebel Ali. Industry insiders assert that the scarcity of waterfront real estate, particularly in Dubai, is the reason why their values are increasing more quickly than the market as a whole.
Similar opportunities for significant capital appreciation are presented to investors by Al Marjan Islands projects.
“There is a fair demand from UAE to the (Al Marjan) island, but we will look to target Asia and CIS (Commonwealth of Independent States) markets through Christie’s International Real Estate’s existing international affiliation,” said Johns.
Johns said their research and market data indicated a steady increase in demand for housing dwellings in Al Marjan Island. “We believe the time is right to unveil a premium branded residential project. We are excited about the project’s launch and confident of a sellout,” Johns added.
Over 1.13 million people visited Ras Al Khaimah in 2022, up 15.6% year over year, according to the Ras Al Khaimah Tourism Development Authority (RAKTDA). With important source markets including Kazakhstan, Russia, the UK, Germany, and the Czech Republic, foreign tourism climbed by 40%.
