Ras Al Khaimah's Off‐Plan Real Estate Market Is Entering One Of Its Most Dynamic Phases

(MENAFN- Khaleej Times)

Ras Al Khaimah's off‐plan real estate market is entering one of its most dynamic phases in recent years, with Al Marjan Island emerging as the emirate's focal point for investor activity.

The island's rapid appreciation - including a 21% year‐on‐year jump in average price per square foot as of early 2026 - reflects a structural shift in demand driven by tourism growth, rising residential absorption, and the emirate's expanding global profile. At the centre of this momentum is the accelerating progress of the upcoming Wynn Al Marjan Island resort, a $5.1 billion integrated destination set to open in 2027, which has already become a powerful economic catalyst. Recent reports note that the project's tower has topped out and construction milestones have injected new confidence into the market, prompting what analysts describe as a“pre‐opening squeeze” that is pushing prices higher and reducing available inventory across the island.

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This transformation is not an isolated phenomenon; it builds on Ras Al Khaimah's record‐breaking tourism performance, with 1.35 million overnight visitors in 2025 and rising hospitality investments that strengthen long‐term residential demand. As the emirate moves closer to the Wynn opening, Al Marjan Island's off‐plan segment continues to attract both regional and international buyers seeking early positioning ahead of a projected surge in demand.

In line with this trend, ELEVATE, the lifestyle real estate brand, has announced that its ultra-exclusive Sky Mansion has been sold for Dh38 million, at the Mondrian Al Marjan Island Beach Residences. The announcement came just days after the project's ground-breaking ceremony.

This record-breaking sale of the development's“Crown Jewel” sets a new benchmark for ultra-luxury real estate in Ras Al Khaimah. The trophy property, which serves as the absolute pinnacle of beachfront living in the Northern Emirates, was sold within hours of its release, underscoring the voracious appetite for high-end branded residences next to the upcoming $5.1 billion Wynn Resort.

Spanning 10,000 square feet across three levels, the Sky Mansion features 28-foot ceiling heights, floor-to-ceiling windows, and exclusive outdoor living spaces, including a private roof garden and a private infinity pool. The residence offers commanding, panoramic views of the ocean and the neighboring Wynn Al Marjan Island.

Zeeshaan Shah, Founder & Chairman of ELEVATE, said,“The sale of our Sky Mansion at Dh8 million is a defining moment for Mondrian Al Marjan Island Beach Residences and for Ras Al Khaimah's luxury real estate market. With limited inventory and EOIs now officially open for Phase 2, demand continues to significantly outpace supply. Phase 1 was absorbed at record speed, and based on the traction we're already seeing, we expect Phase 2 to follow the same trajectory. Buyers recognise that Mondrian Al Marjan Island Beach Residences is not just a residence, but a lifestyle investment in one of the UAE's fastest-rising destinations.”

Source of Fate (SOF), the high-end luxury real estate developer under the Wheel of Fate Group, has commenced construction on Miraggio, its flagship luxury waterfront development on Al Marjan Island, marking a major milestone for the company and the Emirate's fast-growing real estate sector.

The start of construction follows the successful completion of key design milestones, including Concept Design (CD) approval and the completion of Schematic and Preliminary Design (SD & PD). The project has already recorded sales exceeding Dh1 billion, with 50 per cent of units secured through off-plan bookings ahead of construction, underscoring robust buyer confidence and sustained demand for premium waterfront living in Ras Al Khaimah.

Dr. Majid Jack Hsiung, General Manager at Source of Fate, said:“Reaching 50 per cent off-plan bookings ahead of construction underscores a fundamental shift in buyer expectations. Homeowners and investors today are seeking more than premium finishes. They are seeking environments that support wellbeing, balance, and a meaningful connection with nature. Miraggio was conceived with this philosophy at its core, and as construction commences, our focus is to deliver that vision through uncompromising quality, disciplined timelines, and operational excellence at every stage.”

One Broker Group (OBG), the UAE's leading master brokerage and exclusive sales partner, has officially been appointed as the Exclusive Sales Partner in the UAE for AARK Developers' latest landmark residential project on Al Marjan Island, branded by the globally renowned Karl Lagerfeld fashion house.

Strategically positioned with views toward the upcoming Wynn Resort, the development valued at over $1.4 billion, offers direct beach access, proximity to the resort, and more than 50 lifestyle amenities. Anchored by the globally recognized Karl Lagerfeld brand and a curated residential experience, the project benefits from Al Marjan Island's rapid growth, supporting strong long-term investment potential. Comprising over 600 sea-facing residences, the development represents a landmark waterfront investment of significant scale.

“This project represents an important evolution of Karl Lagerfeld's residential portfolio in the region,” said Pier Paolo Righi, CEO, Karl Lagerfeld.“It reflects our commitment to translating Karl's visionary design language into a breathtaking large-scale residential experience.”

Speaking on the partnership, Rahul Kumar Gupta, Chairman of AARK Developers commented:“This project represents a defining moment for Al Marjan Island. Partnering with the Karl Lagerfeld brand allows us to introduce a fully managed, fashion-house-branded residential concept that elevates both the lifestyle offering and investment proposition. Appointing One Broker Group as our exclusive sales partner ensures the project is positioned and executed with the level of market expertise and international reach this development deserves.”

Umar Bin Farooq, Founder & CEO, One Broker Group also expressed strong confidence in the project's potential:“We are extremely proud to be appointed as the exclusive sales partner for this landmark development. The Karl Lagerfeld brings global credibility and lifestyle appeal, and together with Al Marjan Island's evolution and proximity to Wynn Resort, this represents a highly compelling investment opportunity for both end-users and investors.

Ras Al Khaimah's off‐plan market, led by Al Marjan Island, is in the midst of a pivotal growth cycle shaped by rising prices, high investor confidence, and the mounting influence of the Wynn resort. With land values, residential prices and rental yields climbing ahead of the resort's 2027 debut, the island is increasingly seen as the emirate's strongest engine for future real estate expansion. Combined with steady tourism gains and sustained infrastructural investment, Ras Al Khaimah is transitioning from a secondary market into a strategically significant investment destination - one where early movers are poised to benefit most.

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