Abu Dhabi – Mubasher: The UAE-based Indian investor Ivan Richard Menezes has unveiled the launch of a 300-room hotel and entertainment park on Al Marjan Island, Ras Al Khaimah with $200 million in investments.
The project will be “history-themed”, focusing on fitness elements in Al Marjan Island, Arabian Business reported.
“The announcement underlines Marjan’s focus on welcoming inward investment to develop freehold property with a focus on mixed-use projects that add considerable value to the economy,” managing director and CEO of Marjan Abdulla Al Abdooli said in a statement.
By 2025, Al Marjan is looking to attract around three million visitors and by that time more than half of the 15,000 additional hotel keys will be necessary in Ras Al Khaimah, Al Abdooli told the UAE-based business platform.
He also added that another 4,000 hotel keys are currently being developed.
Al Marjan currently operates over 1,600 hotels in the Rixos, Hilton, and Accor hotel brands.
