Bosses at Bin Majid Hotels have confirmed the company will build a new facility on Marjan Island - the first man-made island project in Ras al Khaimah (RAK).The organisation is hoping to have its luxury 265-room Santorini Hotel established by the end of the year and leaders of the firm are understandably excited about the project."We are pleased to announce the addition of Santorini Hotel to our existing properties in RAK," commented Bin Majid Group general manager Dr Ali Kasapbashi."This new development is part of our goal to expand the brand in the region. It has been a very good start for 2013 and we can't wait to welcome all to the new property when it opens by end of this year."Setting up a new luxury hotel in RAK certainly seems to be a shrewd move on the face of it.Although the emirate is quite often overlooked by tourists - who generally prefer the bright lights of neighbouring cities Dubai and Abu Dhabi - there are clear signs that the northern emirate is steadily becoming more popular among holidaymakers.Tourism figures have been rising year-on-year and figures released by RAK Airways last month highlighted a 50 per cent upturn in passenger numbers when compared to 2011.Bosses at the airline suggested that new direct services to Abu Dhabi have helped to make RAK more accessible and it seems that travellers are finally realising just how beautiful the emirate is.RAK is also providing new investment opportunities for property traders who are looking for assets outside of Dubai.The emergence of Marjan Island has helped to raise the profile of the northern emirates and a number of world-class developments are set to go ahead in the area.It extends 4.5km out into the sea and covers an area of 2.7 million square metres.RAK's most exclusive waterfront areas are already unrecognisable from a few years ago and it will be interesting to see what the region looks like in a decade or so.