Crowngate International, a leading global real estate developer has officially broken ground on its AVANI Al Marjan Island Ras al Khaimah Resort on Al Marjan Island which will become the first resort in the Premium 4-Star luxury category on the island.
The resort will address the rapidly increasing demand for hotels in the affordable luxury category in Ras Al Khaimah and will be managed by global hotel operator Minor hotels, under their luxury AVANI brand.
The 225-key resort is situated on an impressive beach-front location on Al Marjan Island, with white sandy beaches as well as spectacular views of the Ras Al Khaimah coastline. The hotel will have premium facilities such as two pools, spa, gym, and kids’ club and will have an assumed development IRR of 19.8%+.
RAK’s tourism industry statistics make for impressive reading, having witnessed tremendous growth of 8.7% between 2014 and 2017, surpassing that of the UAE, that has grown only 5.7% in the same period. RAK is emerging as a major hub for hotel investment with a projected pipeline of 10,200 keys, which puts it in a leading position in the UAE.
Al Marjan Island itself accounts for an impressive 78% of upcoming hotel room supply in the Emirate, so it is the perfect location for Crowngate’s premium 4* resort.
Joe McCormack, Founding Partner - Crowngate International, commented, “We could not have found a better home for this stunning resort, which is set to appeal to UAE residents as well as visitors from the GCC and overseas. As the key tourism destination in Ras Al Khaimah, Al Marjan Island offers the perfect location for our project.
For more details on this
Crowngate hotel project, click here: www.crowngateint.com
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