Ras Al Khaimah, UAE — ELEVATE’s Mondrian Al Marjan Island Beach Residences in Ras Al Khaimah recorded AED 704 million in sales within two hours of launch at Atlantis The Royal on 26 November, making it one of the emirate’s fastest-absorbing residential projects by value and volume, the company said.
The branded beachfront development, valued at AED 1.8 billion and developed in partnership with Ennismore, saw more than 200 units sold almost immediately, with the final 100 units to be released in the next sales phase, according to the developer.
The sales momentum comes as Ras Al Khaimah’s residential market records a sharp rise in off-plan demand, with transaction values in the emirate climbing on the back of major tourism and hospitality projects on Al Marjan Island. In the first half of 2025, RAK logged about AED 6 billion in off-plan home sales and is targeting roughly 45,000 new homes over the next few years to match population and tourism growth, driven in part by large-scale resort pipelines.
Branded lifestyle play on Al Marjan
Mondrian Al Marjan Island Beach Residences is positioned as a branded lifestyle scheme combining Ennismore’s Mondrian hospitality brand with designs by Gensler and Bergman Design House. The project offers three main product tiers: The Residences, comprising 1–3 bedroom apartments; The Front Row Collection, a line-up of beachfront townhouses with direct beach access; and The Sky Collection, duplex and triplex sky villas with private pools.
Also read: OMNIYAT Ras Al Khaimah Waterfront Development Set for 2030 Completion
Residents are expected to benefit from proximity to the planned Wynn Al Marjan Island integrated resort, more than 60,000 sq ft of amenities including the Mondrian Sky Club, the region’s first Fi’lia Beach, and Accor Platinum Status benefits worldwide, the company said. Completion is scheduled for the fourth quarter of 2028, placing handover just after Wynn’s anticipated opening window and in a period when analysts expect Al Marjan Island property values to remain supported by tourism-led demand.
Developer’s view on demand
Commenting on the launch performance, Zeeshaan Shah, Founder & Chairman of ELEVATE, said, “The incredible demand we witnessed, selling over AED 700 million in just two hours, is a powerful validation of our vision for Mondrian Al Marjan Island Beach Residences. We didn’t just launch a building; we introduced a new standard of lifestyle that resonates deeply with global investors.”
He added that the rapid absorption proves that Ras Al Khaimah is no longer just an emerging market; it is a prime destination for luxury real estate, and ELEVATE is proud to be leading this transformation.
Also read: Pantheon Development Breaks Ground on One RAK Central in Ras Al Khaimah
Market data suggests a broader structural shift toward branded and lifestyle-led stock in Ras Al Khaimah, with some analysts expecting branded residences to account for a growing share of new coastal supply on Al Marjan Island over the coming years. Industry reports also indicate that the Wynn resort announcement has lifted nearby land values and supported double-digit year-on-year price growth on the island, underpinning the narrative of a maturing luxury segment.
Off-plan momentum and regional context
The launch comes against a backdrop of strong off-plan absorption across the UAE, led by Dubai but increasingly mirrored in secondary emirates such as Ras Al Khaimah. Knight Frank reports that off-plan deals accounted for about 71% of Dubai’s residential transactions by number and 72% by value in the third quarter of 2024, reflecting investor appetite for phased payment plans and future handover inventory. Developers active in RAK are tapping into similar demand patterns, rolling out masterplanned communities and branded schemes as the emirate positions itself as a complementary alternative to Dubai for beachfront living.
On Al Marjan Island specifically, research from specialist consultancies points to roughly 20% year-on-year property value growth in 2025, with yields and entry prices still competitive relative to prime Dubai coastal districts. The forthcoming Wynn resort, projected at around USD 3.9–5.1 billion of investment, is expected to anchor a broader tourism ecosystem that includes new hotel keys, retail and entertainment, which in turn supports pricing and occupancy for nearby residential projects.
Indian investor lens
Indian nationals remain among the most active foreign buyers in UAE real estate, holding a leading share of cross-border purchases in Dubai and increasingly exploring emerging coastal destinations such as Ras Al Khaimah. For Indian investors, the Mondrian Al Marjan Island Beach Residences offers exposure to a branded beachfront asset class at price points that are often lower than equivalent branded stock in central Dubai, while still benefiting from tourism-led upside and strong rental yield potential.
Key considerations for this buyer segment include currency diversification, potential for capital appreciation as Al Marjan Island matures, and the ability to leverage professional hospitality management to support short- and medium-stay rental strategies. With RAK authorities targeting a significant jump in visitor numbers by 2030 and planning thousands of additional hotel keys on the island, early-entry investors into projects such as Mondrian Al Marjan could see their holdings positioned in the path of both tourism and infrastructure growth.
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