UAE-Based Indian Investor Unveils USD 200 mn Project in Al Marjan Island

UAE-Based Indian Investor Unveils USD 200 mn Project in Al Marjan Island

UAE-based Indian investor Ivan Richard Menezes, director of United Ventures and Investments Limited, announced purchasing a land on the fourth island of Al Marjan Island to develop a “Santa Monica-style entertainment center” with a total investment value of USD 200 mn, Invest-Gate reports.

The new project will include a 300-room hotel and discovery, fitness and history-themed entertainment park, according to a company’s statement published on October 3.

Menezes says Al Marjan Island’s “central location and world-class infrastructure, as well as easy connectivity, make it an ideal destination for a world-class holiday and entertainment center.”

Commenting on the news, Abdullah Al Abdooli, managing director and CEO of Marjan, said, “At Al Marjan Island, we offer developers a plug-and-play model of purchasing land with development. The mixed-use project will further drive tourism and also catalyze the economy as a leisure attraction for families, sports lovers, and fitness enthusiasts.”

“We are committed to further strengthening the amenities offered in Ras Al Khaimah and in positioning it as a world-class tourism and investment hub,” Al Abdooli added.

Located in Ras Al Khaimah, Al Marjan Island currently hosts over 1,600 operational five-star hotel keys, including Rixos Hotels, Hilton Hotels & Resorts, and Accor Hotels brands, in addition to more than 2,000 residential units such as Bab Al Bahar residential and Pacific by Select Group.


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