Ras Al Khaimah’s Al Marjan Island has delivered another signal of buoyant investor demand, with ELEVATE recording more than AED50 million in sales within 15 days at Mondrian Al Marjan Island Beach Residences, underscoring the growing pull of branded beachfront property in the emirate.The sales momentum at the AED1.8 billion development comes as the island moves deeper into the region’s luxury real estate spotlight, driven by limited waterfront supply, rising tourism numbers and the approach of Wynn Al Marjan Island, the multibillion-dollar integrated resort scheduled to open in 2027. The Mondrian project, developed by ELEVATE in partnership with Ennismore, is positioned as one of the flagship hospitality-branded residential schemes on the island.
The latest transactions follow a strong launch phase for the development, where demand has been shaped by buyers seeking sea-facing homes, hotel-style services and exposure to a market still priced below comparable prime waterfront districts in Dubai and Abu Dhabi. The project has already drawn attention for its Phase 1 sell-out and continued interest in Phase 2, as investors look for capital appreciation and future rental income tied to Ras Al Khaimah’s expanding leisure economy.
Hamid Jaafri, partner at ELEVATE, said demand on Al Marjan Island was being driven by a wider shift rather than a single project. “Real estate is, at its core, a supply and demand business and demand on Al Marjan Island is rising by the day,” he said. “Astute investors recognise the impact of over $20 billion of inward investment into a man-made island roughly half the size of Palm Jumeirah, set against a rapidly diminishing supply of beachfront real estate.”
He added that branded beachfront residences on the island could sell out on the primary market within six to nine months if current absorption levels continue, reflecting a tightening pipeline of prime seafront inventory.
Mondrian Al Marjan Island Beach Residences is planned as a design-led beachfront address with residences connected to hospitality amenities and services associated with the Mondrian brand. The project is scheduled for completion in the fourth quarter of 2028 and includes access to curated lifestyle facilities, beach-facing spaces and residential formats aimed at high-net-worth buyers and international investors.
The development has also moved forward on construction. ELEVATE awarded an AED50 million piling and foundation works contract to Pinnacle Piling, after shoring works were completed on site. The appointment placed the project among the active construction schemes on the island and gave investors a visible execution milestone at a time when off-plan buyers are scrutinising delivery schedules more closely across the UAE.
Ras Al Khaimah’s real estate market has been gaining depth as off-plan sales dominate transaction activity. Residential sales in the emirate reached about AED12.4 billion across 6,600 transactions in 2025, with off-plan deals accounting for the bulk of activity. Al Marjan Island has been among the main beneficiaries, supported by branded projects, beachfront scarcity and the expected tourism impact of Wynn’s entry.
The emirate’s tourism performance has strengthened the property narrative. Ras Al Khaimah welcomed 1.35 million overnight visitors in 2025, up 6 per cent year on year, while tourism revenue grew faster than arrivals. The tourism authority has set a longer-term target of 3.5 million visitors by 2030, a goal that depends on higher hotel capacity, expanded aviation links and new leisure attractions.
Wynn Al Marjan Island remains the largest catalyst for the island’s repositioning. The resort secured a $2.4 billion construction financing facility in 2025 and has been described as the first integrated resort of its kind in the UAE. Its location, about 50 minutes from Dubai International Airport, has helped reshape investor expectations for surrounding residential, hospitality and retail assets.
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