(MENAFN- Khaleej Times) Return on property investment in the emirate of Ras Al Khaimah can be between 16 to 20 per cent, a veteran developer said.
“Ras Al Khaimah is currently giving ROIs of 16-20 per cent, which is one of the highest in the world. With the gaming resort coming up, and space being limited, this is only going to grow,” Rahul Kumar Gupta, chairman of Aark Developers, said.
Aark Developers last week announced the launch of its latest project Sora Beach Residences a Dh4 billion project in Al Marjan IslandAbdulla Al Abdouli, CEO of Marjan, said;“Sora Beach Residences will further elevate the appeal of Al Marjan Island and offer an exceptional opportunity to invest in ultra-premium waterfront living. This further reinstates Ras Al Khaimah's appeal as a fast-growing investment and lifestyle destination.”
The new property will be the first of its kind highrise in Al Marjan Island, standing 18 floors tall, with unobstructed sea views from every residence. In addition, it will have the largest beachfront on Al Marjan Island.
The property's architectural design has been conceptualized by renowned Japanese architectural firm Nikken Sekkei, the creatives behind global iconic landmarks in Asia, Middle East and most recently the acclaimed One Zabeel development in Dubai.“This architectural marvel will have unique design elements such as magnificent halls, splendid facades and a larger-than-life lobby atrium with a striking 140 feet high arch. This is slated to be one of the grandest atriums ever seen in the region,” Fadi Jabri, the CEO of Nikken Sekkei FZ Dubai, said.
With a focus on family tourism, a large part of the project has been earmarked for rentals.“We have kept 20 per cent of the space for airbnb bookings,” Gupta said.
The project is expected to be completed by the fourth quarter of 2026.
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