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Ras Al Khaimah investment continues with mall expansion

Ras Al Khaimah investment continues with mall expansion

Major expansion of RAK’s Manar Mall expected to be completed in 2016, as the region establishes itself as holiday hotspot for tourists from around the world.

Summary:

  • Work on the major expansion of Ras Al Khaimah’s Manar Mall is progressing well and is due to be completed towards the end of 2016
  • The emirate is becoming one of the world’s fastest growing tourist destinations
  • Those seeking holiday property should invest now as an uplift in prices expected with continued economic investment

Investment in Ras Al Khaimah is continuing apace – and it means that the time to secure a luxury holiday property in the emirate is now.

Major expansion work on the Manar Mall is progressing well, according to developers Al Hamra Real Estate Development, with work expected to be completed in the third quarter of 2016.

The plans will double the size of the mall to 60,000 sq m and include a waterfront retail promenade and a new entertainment centre. It’s already started to gain interest among many global retailers, with franchise operator MH Alshaya, which already operates stores such as Starbucks and H&M at Manar Mall, outlining its ongoing commitment to the shopping centre.

Commenting on the plans for the new entertainment centre Debbie Stanford-Kristiansen, the CEO of Novo Cinemas, said that “our aim is to provide the ultimate cinema experience” and that “as the most popular shopping and leisure destination in the northern emirates, Manar Mall fits the bill”.

She added: “As populations continue to grow, its expansion has the potential to create opportunities and increase footfall, creating synergies between the retail and entertainment industries.”

Ras Al Khaimah’s array of leading malls help form a collection of top-class leisure facilities that are helping to establish the emirate as one of the world’s fastest growing tourist destinations.

It’s also becoming a go-to location for luxury holiday property investors. But for those looking to secure a beach-front property on the exclusive Al Marjan Island, for example, the time to invest is now to enjoy the best capital returns.

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