Ras Al Khaimah, UAE — OMNIYAT, a Dubai-based ultra-luxury real estate developer, has entered Ras Al Khaimah’s property market through a strategic partnership with Marjan, the emirate’s largest master developer, to create a premium beachfront project on Marjan Beach. The OMNIYAT Ras Al Khaimah waterfront development will occupy a 36,600 square metre plot with over 250 metres of beachfront, located opposite Wynn Al Marjan Island, and is scheduled for completion by 2030.
The announcement follows OMNIYAT’s 20th anniversary celebration earlier this month, marking two decades during which the developer became the market leader in Dubai’s $10 million-plus ultra-luxury segment in the first half of 2025. The company raised over $900 million through sukuk issuances in 2025 and set sales records with penthouses at One at Palm Jumeirah and The Lana, Dorchester Collection.
Strategic Expansion into RAK Market
Abdulla Al Abdouli, Group Chief Executive Officer of Marjan, commented: “Marjan’s commitment to drive Ras Al Khaimah’s transformation into a global lifestyle and investment hub has led to strategic partnerships that align with our national ambitions.”
He added that following the landmark success of Marjan Island and RAK Central, they launched Marjan Beach to establish new benchmarks for waterfront living in the region. “We are happy to welcome OMNIYAT with its proven track record of ultra-luxury real estate developments to enhance Marjan Beach’s appeal among global and local investors and visitors.”
Also read: OMNIYAT Launches LUMENA ALTA, Dubai’s Tallest Luxury Commercial Tower
The OMNIYAT Ras Al Khaimah waterfront development marks the developer’s first investment outside Dubai, reinforcing RAK’s position as a premier residential destination aligned with RAK Vision 2030. The project offers panoramic views of the emirate’s natural landscapes and coastal environment.
Market Context and Growth Trajectory
Ras Al Khaimah’s property market has experienced significant momentum, with off-plan transactions accounting for 84 percent of all residential sales in the first nine months of 2025, generating over AED 8.2 billion in value. According to ValuStrat data, the emirate’s Property Price Index climbed 13.8 percent year-on-year in H1 2025, with villa values rising 15 percent and apartments increasing 13.2 percent.
Al Marjan Island, where the OMNIYAT Ras Al Khaimah waterfront development will be situated, recorded apartment price growth of 16.8 percent year-on-year in Q3 2025, the highest among all RAK communities. The first half of 2025 saw AED 6 billion worth of off-plan home sales in the emirate, with average rental yields for apartments at approximately 5.6 percent.
Mahdi Amjad, Founder and Executive Chairman at OMNIYAT, added: “Through this agreement with Marjan, we will leverage OMNIYAT’s two decades of expertise in creating ultra-luxury waterfront destinations, alongside the Emirate’s exceptional infrastructure, authenticity and natural beauty, to develop destinations that elevate the human living experience and enrich communities.”
Marjan Beach Master Plan
Marjan Beach, the mixed-use waterfront destination hosting the OMNIYAT Ras Al Khaimah waterfront development, is designed around eight distinct neighbourhoods spanning 3 kilometres of beachfront with 6.5 million square feet of open green spaces. The master plan includes 22,000 residential units and 12,000 luxury hotel keys, with capacity to accommodate 74,000 residents, a workforce of 32,000, and up to 180,000 annual visitors.
Also read: Omniyat Showcases Dorchester Collection Dubai Residences at Monaco Yacht Show
The development supports RAK Vision 2030’s ambitious targets of attracting 3.5 million annual visitors and nearly 20,000 hotel keys across the emirate. RAK’s tourism sector recorded 1.28 million visitors in 2024 and aims to nearly triple that figure by 2030.
Investment Outlook for Indian Buyers
For Indian investors, the OMNIYAT Ras Al Khaimah waterfront development presents an opportunity in a market offering 30-50 percent lower property prices compared to Dubai. Properties valued at AED 2 million or above qualify for the UAE’s 10-year Golden Visa, providing long-term residency for investors and their families. Off-plan purchases with approved developers are eligible when the valuation or paid amount reaches AED 2 million.
RAK imposes no rental income or capital gains taxes, with only a 4 percent RAK Land Department fee at registration, maximizing net returns for international investors. The emirate’s projected population growth is expected to create demand for approximately 45,000 new homes over the coming years.
Knight Frank data shows Dubai’s luxury waterfront properties commanded premium valuations in 2024, with appetite for coastal living extending to northern emirates. The OMNIYAT Ras Al Khaimah waterfront development positions investors at the intersection of this ultra-luxury trend and RAK’s comparative affordability, particularly as the emirate builds tourism and lifestyle infrastructure toward 2030.
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