According to an experienced developer, the return on real estate investment in the Ras Al Khaimah emirate can range from 16 to 20 percent.
“Ras Al Khaimah is currently giving ROIs of 16-20 percent, 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.”
At eighteen stories, the new building will be the first of its kind on Al Marjan Island, offering uninterrupted views of the sea from every apartment. It will also have Al Marjan Island’s largest beachfront.
Renowned Japanese architectural firm Nikken Sekkei, responsible for many globally recognized landmarks in Asia and the Middle East, including the recently opened One Zabeel development in Dubai, designed the property’s architecture. “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 percent of the space for Airbnb bookings,” Gupta said.
The project is anticipated to be finished by 2026’s fourth quarter.