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
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