RAK property projects sold out as zero tax, full foreign ownership attract global investors
Demand for properties in Ras Al Khaimah is growing exceptionally well, mainly driven by investors looking for long-term rental income and short-term holiday home rentals. Numerous private developers are setting sights on the emirate’s real estate market to cash in on the demand, especially after the announcement of the $3.9 billion (Dh14.3 billion) gaming resort Wynn Al Marjan Island in Ras Al Khaimah.
Being developed by local partners Marjan LLC and RAK Hospitality Holding, the hospitality and gaming project will attract thousands of visitors from around the world. This project is expected to boost the profile of the emirate, with high-profile investors pumping money into the projects on Al Marjan Island.