Mondrian Al Marjan Island Records AED 73 Million Property Deal as Sales Reach 75%
A North American investor has purchased four residences in a single AED 73 million transaction at ELEVATE’s Mondrian Al Marjan Island Beach Residences, highlighting international interest in Ras Al Khaimah’s luxury property market.
Mondrian Al Marjan Island Beach Residences has recorded a major sales milestone after completing a property transaction valued at AED 73 million. The deal, finalised in September 2026 according to the developer, involved a North American buyer purchasing four residential units within the beachfront development.
Developed by ELEVATE in partnership with Ennismore, the project has now sold 75% of its available residences. The transaction is reported by the developer as the largest single property deal recorded on Al Marjan Island in 2026.
The purchase included a five-bedroom penthouse, a four-bedroom penthouse, a three-bedroom townhouse and a three-bedroom residence, bringing several premium property types together in one transaction.
Construction Progress and Sales Activity
Alongside its sales performance, the development is advancing through its construction programme. ELEVATE reported that shoring works had been completed, while piling works had reached 80% completion at the time of the announcement.
The project also recorded more than AED 100 million in closed sales during August 2026, according to the company.
Zeeshaan Shah, Founder and Chairman of ELEVATE, attributed the development's market response to its design, amenities and hospitality partnership with Ennismore. He also highlighted the growing attention being directed towards Ras Al Khaimah as new tourism and leisure attractions take shape.
The sales figures and construction updates provide an indication of the project's progress, although they do not independently establish its performance relative to every competing development on the island.
International Buyers Show Interest in Al Marjan Island
The latest transaction reflects the participation of overseas investors in Ras Al Khaimah's premium residential property segment.
Al Marjan Island has attracted attention through its beachfront location, hospitality developments and expanding leisure infrastructure. These characteristics have helped position the area as a destination for buyers seeking branded residences and coastal living.
According to ELEVATE, the AED 73 million transaction reflects interest from international buyers looking beyond established property markets towards emerging luxury destinations.
However, the extent to which international demand will continue to grow depends on broader market conditions, pricing, project delivery and the availability of competing properties.
New Beachfront Residences Introduced
ELEVATE has also introduced previously unreleased two-bedroom residences positioned along the beachfront within the development.
The company says these homes feature connected guest suites, offering additional flexibility for families and visitors while maintaining privacy. The release adds another residential option to the project's offering as the developer seeks to respond to demand for premium beachfront homes.
The availability and pricing of these residences will be important considerations for prospective buyers assessing the development.
Wynn Al Marjan Island Adds to the Destination's Profile
The wider transformation of Al Marjan Island is another factor drawing attention to its real estate market. Wynn Al Marjan Island, an integrated resort under development nearby, is scheduled to open in 2027 and is expected to expand the emirate's hospitality and entertainment offering.
The resort's planned facilities, together with investment in tourism infrastructure, could strengthen the area's appeal to visitors and property buyers. Wynn has also announced plans for a 98-berth marina designed to accommodate yachts up to 85 metres long.
For residential developments on Al Marjan Island, the growth of surrounding attractions may create opportunities by increasing the destination's visibility. Nevertheless, any effect on property values or rental income will depend on actual demand, future supply and wider economic conditions.
What the Deal Means for Ras Al Khaimah's Property Market
The AED 73 million transaction adds to the recent activity surrounding luxury residential developments in Ras Al Khaimah. With Mondrian Al Marjan Island Beach Residences reporting that 75% of its units have been sold, the project is reaching an important sales milestone while construction continues.
For prospective investors, the transaction offers a snapshot of activity at the premium end of the market. Buyers should still evaluate individual property prices, ownership terms, service charges, expected rental demand and completion timelines before making investment decisions.
As Al Marjan Island continues to develop, future sales activity and the delivery of major hospitality projects will help indicate whether current investor interest translates into sustained demand for beachfront real estate.
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