Elevate Records AED127.5 Million Transaction at Mondrian Al Marjan Island Beach Residences

Friday, 22 May 2026

Elevate has announced a landmark AED127.5 million ($34.72 million) transaction at Mondrian Al Marjan Island Beach Residences, highlighting growing investor confidence in Ras Al Khaimah’s luxury waterfront market and the rising demand for design-led beachfront living experiences.

Key Highlights

• Elevate recorded a major AED127.5 million transaction at Mondrian Al Marjan Island Beach Residences
• The transaction was completed by Thrivestate Square Real Estate
• The deal reflects rising investor interest in Ras Al Khaimah’s premium beachfront property market
• Mondrian Al Marjan Island Beach Residences is developed in partnership with lifestyle hospitality company Ennismore
• Demand continues to grow for luxury residences combining hospitality, lifestyle, and long-term investment value
• Limited beachfront inventory on Al Marjan Island is increasing the appeal of exclusive waterfront developments
• Following its Q4 2025 launch, residences at the project were reserved within hours
• Elevate plans to introduce a limited collection of exclusive townhouses and sky villas
• Construction progress remains strong, with shoring completed and excavation advancing steadily
• Handover for the development is targeted for 2029
• The project continues to strengthen Ras Al Khaimah’s position as an emerging global luxury real estate destination