Al Marjan Island, a distinctive archipelago, is situated off the shore of Ras Al Khaimah in the UAE. It is considered one of the fastest-growing areas for tourists and real estate investors in the Middle East. This island has crystal-clear beaches, lavish resorts, and astonishing views of the Arabian Gulf. It is a perfect spot for tourism and has a significant impact on real estate.
There has been a noticeable uptick in the demand for residential units due to increased tourism activities on Al Marjan Island. Short-stay accommodation options like serviced apartments, luxury villas, and townhouses are increasingly preferred by the business and leisure tourism traffic.
As much as these tourists enjoy visiting the island, the breathtaking views make a significant portion of them consider purchasing a property.
The tourism sector has increased investment in new, high-end residential, hotel, and resort developments. There is an increasing demand for high-quality services, so the variety and number of five-star resorts, amenities, and other facilities continue to grow. Developers are constructing luxury projects that offer their owners an unparalleled living experience.
The expansion of the tourism sector on Al Marjan Island has concurrently positively impacted the rental market. With new hotels, resorts, and vacation homes being built, there is a drastic surge in activity within the rental market.
Many property owners on the island have taken advantage of the high influx of tourists. They converted their properties into short-term leasing options, especially during peak seasons.
A fascinating development is the increased demand for the expansion of tourist-focused properties. More and more people are looking to utilize the unparalleled investment opportunities offered in resorts, which are altruistically priced.
No doubt, Dubai investment properties have the potential to provide unmatched value, which is why they are so highly sought after. Off-plan properties will remain one if not the most sought-after option among investors looking at the islands’ developing real estate market.
The UAE government has massive support for expanding infrastructure on Al Marjan Island. New roads, improved transportation, and upgraded facilities make it much easier for tourists to visit and explore the island. As infrastructure continues to develop, it helps the real estate market by increasing the overall appeal and access to Al Marjan Island.
Ras Al Khaimah has made some changes to encourage investment in real estate. Some of these changes include relaxed regulations and tax benefits for international investors. The demand for real estate is driven by tourism, which focuses on properties on Al Marjan Island and supports the government’s economic development goals through tourism and real estate investment. By offering strong investment prospects and ensuring smooth business operations, the government has fostered the expansion of the island’s real estate sector development.
Rental properties on platforms like Airbnb have become highly demanded in Al Marjan Island due to its tourism economy. The market appeals to many travelers seeking a more personal and secluded stay than a hotel room. Owners of properties looking to capitalize on the tourism economy through short-term rentals are gaining more ROI. At the same time, tourists find more value in the flexible and unique accommodation options that meet their needs.
The increased tourist activity at Al Marjan Island is driven by the UAE’s vision to diversify its economy. Expansion of the tourism sector has proven to provide consistency to investors in real estate. As more and more people visit the island, the ROI increases, creating incentives for new investors.
As more people visit the island, new commercial spaces are developed by retail brands and restaurant chains looking to expand their business. The increased demand for commercial real estate supports the island’s tourism growth strategy.
The increase in tourists allows the local population to seek better income opportunities. High-income opportunities improve employment prospects in the hospitality sector. This spurs housing demand and consumption.
Regarding investing in Off Plan Property in Dubai, GRD Off Plan is a leading exclusive, high-quality real estate option provider. Specializing in off-plan properties on Al Marjan Island, we provide a selection of top real estate properties from trusted developers that cater to investors and end-users looking for exceptional value. If you need our expert real estate agents, please contact us.
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