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Al Marjan Island, a collection of four man-made islands in the city of Ras Al Khaimah on the northern tip of the United Arab Emirates totaling 660 acres, is listed for $462 million. The circle- and coral-shaped islands – called Breeze Island, Treasure Island, Dream Island and View Island – extend nearly 2.8 miles into the Persian Gulf and are set against a backdrop of the Arabian Peninsula. Catering to foreign investors, the listing offers zero personal and zero income taxes with no foreign exchange controls.
The buyer will receive five million square feet of land plus the five-star hotels, private beaches and residential living areas that already exist on the property. As an added bonus, “world-class” education and hospital facilities are located nearby.
“With waterfront homes, quality hotels and resorts, marinas, private beaches for residents, leisure, retail and recreational facilities, Al Marjan Island is a unique investment opportunity with high returns,” reads the ad.