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Mohamed Ruqait (MR) Properties Pumps To Develop Its Second Hotel With Investment Of Dhs 400 Million At Al Marjan Island (11 September 2017)

Following the successful operation of DoubleTree by Hilton in Al Marjan Island, this is MR Properties’ second development on the scenic island

MR Properties, a leading developer of residential and commercial properties in Ras Al Khaimah, announced a new 4-star beachfront property, during Cityscape Global 2017 which runs from 11th to 13th September at Dubai International Convention and Exhibition Centre.  This new announcement comes on the heels of the successful operation of the largest hotel in the Northern Emirates, the 723 room DoubleTree by Hilton in Al Marjan Island which has the largest room inventory for Hilton Worldwide in UAE. This is MR Properties’ second development on the scenic island. Valued at Dhs 400 million the new development has been thoughtfully designed to meet the lifestyle aspirations of a global audience

The hotel is expected to open at by the fourth quarter of 2019 spread over an area of 10,886 sqm. Aimed mainly for the business and leisure travellers, the 500-key beachfront development will feature retail, recreation facilities and beach activities. The prolific property will host four F&B outlets, 450m of white sandy beach and 1000 sqm pool and plenty of other recreational facilities including children’s club, a health club and water sports facilities. An observation deck will also offer unencumbered, 360-degree views of the island

“It is an honour to mark the expansion of our portfolio at Al Marjan Island. Our first development, DoubleTree by Hilton has spelt major success for the island and Ras Al Khaimah (RAK),and we are confident that with the development of this second hotel, Al Marjan Island will appeal to visitors from across the world,” said Mr. Mohammed Ruqait, Chairman of MR Properties.

“Al Marjan Island has its roots in the region; as such it was our first choice for the development of our second property. This new property will not only help Al Marjan Island deliver excellent hospitality, but also support Ras Al Khaimah to promote and increase tourist visitors,” added Mr. Mohammed Ruqait.

Figures published by CBRE confirmed that Ras Al Khaimah is the fastest-growing hospitality and tourist market in the region, with the industry witnessing a tremendous growth of 8.7 per cent between 2014 and 2017, surpassing that of the UAE, which has grown 5.7 per cent in the same period.

“We are delighted to have MR Properties develop this new hotel on Al Marjan Island. Our collaboration with MR Properties dates back to DoubleTree by Hilton, and with the new beachfront property to be developed soon, the project is a barometer of the confidence that investors hold in Al Marjan Island, indicating our long-term success,” said Architect Abdullah Al Abdooli, Managing Director of Al Marjan Island.

“The new development will host unique offerings that will meet the requirements of discerning visitors. Economically and geographically, Ras Al Khaimah serves a highly appealing investment destination, and we are confident that this strategic partnership will not just play a crucial role in changing the investment and real estate sphere in Ras Al Khaimah, but also attract attention of a modern, cosmopolitan, thoughtful traveller that represents exactly the kind of market demographic we aspire,” added Architect Abdullah Al Abdooli.

Al Marjan Island is a cluster of four islands in the upscale area of Ras Al Khaimah. Equipped with unique opportunities for investors and residents, the island has proven to be one of the biggest and most promising drivers for RAK’s economic growth.

“Our new beachfront property will showcase authentic luxury and personalised hospitality. The resort’s discerning guests will not only benefit from the project’s integrated lifestyle, but also have access to best-in-class experiences. Ras Al Khaimah and Al Marjan Island has enormous growth potential in the tourism and lifestyle sector, and the development of our new beachfront property marks a key strategic move that provides synergy and diversifies Al Marjan’s well-established presence in the region and beyond,” concluded Mr. Mohammed Ruqait.

MR Properties’ currently boasts a high-profile portfolio of luxurious and affordable developments including Khozam Complex, Al Musalla Complex, Al Khoor Complex, Al-Kharran Complex and Corniche Towers among many others.

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