Ras Al Khaimah — Richmind Holding has broken ground on Oystra, a Zaha Hadid Architects-designed residential project on Al Marjan Island in Ras Al Khaimah, marking the formal launch of Phase 2 after Phase 1 sold out. The project will deliver 850 one to four-bedroom seafront residences, with construction targeted for handover in 2029, the developer said.
Arch. Abdulla Al Abdouli, Group CEO, Marjan, said Al Marjan Island “has always been envisioned as a premier waterfront destination,” adding that the groundbreaking of Oystra “marks an exciting milestone in the island’s continued growth.”
Located close to the Wynn Al Marjan Island integrated resort, Oystra is positioned as a luxury waterfront scheme in an emirate where residential capital values and transaction volumes have accelerated over the past two years.
Design-Led Coastal Project With Global Team
According to Richmind, Oystra brings together Zaha Hadid Architects for the overall concept, Dewan Architects + Engineers for delivery, HBA for interiors and Cracknell for landscape design. The scheme features a sculptural, fluid architectural form, supported by elements such as a 40-metre curved steel truss to retain the original design intent, the company said.
Also read: Mondrian Al Marjan Residences See Record Sales as Ras Al Khaimah Property Booms
The development will offer curated wellness amenities, a beach club and spa, and a signature dining venue at the project’s peak, encircled by what the developer describes as Ras Al Khaimah’s first 360° infinity pool. Al Abdouli said Richmind’s “commitment to design excellence and world-class partnerships, reinforces the international appeal of Ras Al Khaimah and elevates the lifestyle offering for residents and investors alike.”
Al Marjan Island’s Rising Investment Profile
Al Marjan Island has emerged as the focal point of Ras Al Khaimah’s coastal real estate strategy, supported by large-scale tourism and hospitality investments including the planned Wynn resort. Recent market analyses show Al Marjan Island leading the emirate’s apartment market in price growth, with annual gains in some segments outpacing wider RAK averages and narrowing the gap with Dubai’s prime seafront districts.
The broader Ras Al Khaimah residential market has reported strong annual transaction values and is projected by some analysts to potentially double in size by 2030 as tourism and population expand. Off-plan properties dominate sales in the emirate, mirroring trends in Dubai where recent reports show off-plan deals accounting for a growing share of transactions, underscoring investor appetite for early-stage coastal projects such as Oystra.
Strong Off-Plan Momentum And Phase 2 Launch
Richmind said Phase 1 of Oystra was fully sold out ahead of the official groundbreaking, citing strong regional and international demand for high-growth beachfront assets. Company CEO Mohammad Rafiee said: “The rapid sellout of Phase 1 reflects growing international interest in the emirate, as buyers increasingly seek premium, design-led beachfront properties with strong long-term value potential.”
The launch of Phase 2 extends supply in a segment where investors are targeting rental income from tourism-led demand as well as capital appreciation from master-planned waterfront communities. Rafiee added that “Oystra is more than a development, it is a milestone in Ras Al Khaimah’s rise as a global coastal investment destination,” and called the groundbreaking “an affirmation of our long-term commitment to supporting the emirate’s evolution and delivering a project that embodies rarity, architectural excellence, and enduring value for our clients and investors.”
Comparison: RAK Waterfront vs Dubai Prime
| Factor | Al Marjan Island, RAK | Core Dubai Waterfront Areas |
| Typical apartment price trend (recent annual) | Strong double-digit growth in several recent periods | High single to low double-digit growth depending on sub-market |
| Share of off-plan sales | Off-plan dominates new coastal launches | Off-plan around two-thirds of overall transactions in some quarters |
| Tourism driver | New integrated resort, nature-led and family tourism | Established global leisure and business hub with mature hospitality stock |
| Entry ticket for investors | Lower average unit prices and costs than Dubai prime | Higher capital values and operating costs in top-tier districts |
Why Oystra Matters For Indian Investors
Indian investors remain among the largest foreign buyer groups in UAE property, attracted by residency options, relatively stable yields and currency diversification. Ras Al Khaimah offers property-linked residency routes at lower investment thresholds than many global coastal markets, which could position schemes like Oystra as a supplement or alternative to Dubai holdings.
Also read: OMNIYAT Ras Al Khaimah Waterfront Development Set for 2030 Completion
For Indian families and high-net-worth investors assessing long-term allocations, Oystra’s design-focused positioning, proximity to a major integrated resort and 2029 delivery horizon align with a medium-term strategy to capture value in an emerging coastal market that still prices below Dubai’s mature waterfront districts. As Ras Al Khaimah’s tourism targets, infrastructure pipeline and residential stock expand toward 2030, participation in data-backed projects on Al Marjan Island may offer a blend of lifestyle use, rental income and capital appreciation potential.
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