Area analysis

AL MARJAN ISLAND

Al Marjan Island is Ras Al Khaimah's man-made archipelago: four coral-shaped islands, close to 8 km of beach, and the only place in the UAE where a resort with a gaming licence is under construction. Everything hinges on one date, 2027. Here is what each sector of the island is really worth, and what we buy there or not.

Average price: AED 2,400 to 3,200 / sqft
Gross yield: 6.0% to 8.0%
Entry ticket: from AED 1.1M
Recommended horizon: 3 to 5 years

Al Marjan Island sectors compared

Sector	Price per sqft	Gross yield	Profile
Breeze Island (beachfront, branded residences)	AED 2,900 to 3,500	6.5% to 8.0%	Closest to the resort, the most sought-after product
Treasure Island	AED 2,400 to 2,900	6.0% to 7.5%	Established hotels, mix of residences and resorts
Dream Island	AED 2,200 to 2,700	6.0% to 7.0%	Lower entry ticket, often inward-facing views
View Island	AED 2,300 to 2,800	6.0% to 7.2%	Recent schemes, handovers 2027 to 2029
Al Hamra Village (mainland, for comparison)	AED 1,300 to 1,800	6.5% to 8.0%	Delivered and tenanted, immediate income alternative

Ranges observed on the transactions we track. They vary with floor, view and condition.

One island, one catalyst, one date

Al Marjan Island was reclaimed from the sea by Marjan, the government developer of Ras Al Khaimah: four islands, 2.7 sq km, close to 8 km of beach, an airport twenty minutes away and Dubai Marina under an hour by road. Until 2022 it was a quiet holiday destination with a handful of international resorts.

That changed with the announcement of the first UAE resort holding a gaming licence, due in 2027. The project has drawn investors, top-tier developers and a new tourist base. The island is no longer a leisure market: it is a cycle market, built around a date.

What the casino resort really changes

More than 1,500 keys, thousands of jobs, an international clientele staying two to four nights: that is exactly the base of a short-term rental economy. Today that demand barely exists on the island. After opening, it becomes the main yield driver.

Read the catalyst both ways. It justifies the price move of the last two years, and it concentrates the risk: if the schedule slips or footfall disappoints, the expected re-rating is pushed back by as much. On this island we only buy assets where the margin is already captured at entry.

See our brief: Address Residences, corner 3 bedroom

Real yields: higher than Dubai, less certain

On the island, quoted gross yields run from 6% on long lets to 8% and above on short-term operation. Those levels sit above Dubai, where comparable stock trades between 5% and 7%. But the high numbers rest on post-2027 footfall that cannot yet be observed.

Service charges run between AED 12 and AED 20 per sqft per year. On short lets, deduct 20% to 25% management fees. A 7.5% gross realistically lands closer to 5% to 5.5% net. That net is what we publish in our briefs.

Al Marjan Island versus Dubai

Ras Al Khaimah offers an entry ticket 30% to 40% below Dubai for equivalent beachfront product, identical taxation and the same freehold status. Against that, Dubai keeps a far deeper resale market, permanent rental demand and a diversified economy.

The WAH read: Al Marjan Island is a cycle position alongside a Dubai portfolio, not a substitute. We recommend it for a limited share of a property portfolio, with a minimum three-year horizon and an exit planned from day one.

Costs, tax and resale

Acquisition costs: around 4% registration with the Ras Al Khaimah land authority, plus the developer transfer fee on an off-plan position resale and, where applicable, agency commission. The island is freehold: a non-resident buys outright in their own name.

No local tax on rent or capital gains. An investment above AED 2M opens eligibility for the ten-year golden visa. On resale, the secondary market is still young: favour rare units, corner, high floor, unobstructed view, which find buyers even when the market slows.

The WAH verdict on Al Marjan Island

A cycle market, not an income market. Entry prices already price in part of the resort effect: we only clear rare positions, bought below market, with an exit planned on the 2027-2029 window. On that condition, the island offers the best price-to-catalyst pairing in the UAE today.

Our scored assets in Al Marjan Island

Ras Al Khaimah

Address Residences, Al Marjan Island

WAH Score

8,4/ 10

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Investing in Al Marjan Island: frequently asked questions

Is Al Marjan Island a good place to invest?

Yes for a cycle investor comfortable with a three to five year horizon: lower entry ticket than Dubai, higher potential yield, and a dated catalyst with the casino resort opening in 2027. No for anyone seeking immediate income and a fast exit: the secondary market is still thin.

What is the price per sqft on Al Marjan Island?

Between AED 2,200 and AED 3,200 depending on the island and the view, up to AED 3,500 for beachfront branded residences. For comparison, Al Hamra Village on the mainland trades between AED 1,300 and AED 1,800.

Can a foreigner buy in Ras Al Khaimah?

Yes. Al Marjan Island is freehold: a non-resident buys outright in their own name, with no local partner, resells freely and pays no tax on rent or capital gains in the UAE.

When does the Al Marjan Island casino resort open?

The opening is announced for 2027. It is the first UAE property to hold a gaming licence. The schedule is the main thing to watch: it drives rental demand and the resale window.

What net rental yield can you expect on the island?

Expect 5% to 5.5% net after charges, management and vacancy on a well-run short-let operation, and around 4.5% net on long lets. The 8% figures quoted by some sellers are gross, before costs, on post-2027 assumptions.

Guides to read before investing

Investing in Dubai property: the complete guide

Freehold areas, price per sqft, real yield after charges, acquisition costs and tax: the concrete benchmarks to buy in Dubai without getting it wrong.

Buying off-plan in Dubai: how it actually works

Payment plans, escrow, Oqood, selling your position before handover: the full mechanics of off-plan buying, with the points that actually matter.