Ras Al Khaimah, UAE – October 2026: Mondrian Al Marjan Island Beach Residences, developed by ELEVATE in partnership with Ennismore, has recorded a landmark AED 73 million single transaction as Project Hits 75% sold. The deal marks a significant milestone for the development and highlights continued demand for quality branded residences on Al Marjan Island. The deal was completed last month with a buyer from North America, reflecting the destination’s growing international appeal.
The transaction covered four homes: a 5-bedroom penthouse, a 4-bedroom penthouse, a 3-bedroom townhouse and a 3-bedroom residence. The project is now 75% sold.
Progress on site is keeping pace with sales, with shoring works 100% complete and piling works 80% complete. In August 2026 alone, the project recorded more than AED 100 million in closed sales.
Commenting on the milestone, Zeeshaan Shah, Founder & Chairman of ELEVATE, said: “Mondrian Al Marjan Island Beach Residences has become the benchmark. The design, the quality of the amenities, the hospitality integration with Ennismore, the market has responded to all of it emphatically. We are the most successful and fastest-selling project on Al Marjan Island in the last 12 months, and that is not an accident. It is the result of an uncompromising commitment to building something genuinely exceptional in a market that can tell the difference.
What we are witnessing in Ras Al Khaimah right now is something that, frankly, most people are still sleeping on. The Wynn Al Marjan Island opens in less than twelve months. This is a $5.7 billion development, the largest single hospitality project ever built in this region. A global icon, not a regional one. They have just announced a superyacht marina capable of docking the world’s largest vessels. There are major announcements coming out of that project almost every week, and still the broader market has not fully grasped the magnitude of what is about to happen to this island.
The people who understand it are already here. The investors who move now will look back on this moment as the most significant entry point in the story of Marjan Island. Because once the Wynn opens and the world arrives, prime beachfront real estate on the island will be a globally recognised trophy asset”.
What stands out is not simply the size of the transaction, but the profile of the buyer behind it. ELEVATE is seeing international investors increasingly look beyond the traditional prime markets and recognise the long-term potential of destinations like Marjan Islands. As the island moves closer to a new era of tourism and hospitality, the market is entering a phase where quality, scarcity and timing will play an increasingly important role in investment decisions.
Against this backdrop of increasingly scarce beachfront land, and seeing a steady increase in buyer demand, ELEVATE has brought to market unreleased front-row two-bedroom residences as a special product offer. The homes sit directly on the beachfront, among the most sought-after positions in the development. Designed for a new generation of beachfront living, the residences feature connected guest suites that offer the flexibility of additional space for family and visitors without compromising privacy.
With Wynn Al Marjan Island expected to open in less than 12 months, the island is seeing heightened interest from regional and international investors. The integrated resort is expected to strengthen Al Marjan Island’s position as a major tourism and lifestyle destination, and demand for hospitality-led residential real estate continues to grow.
The latest milestone adds to the momentum around the destination, as international buyers seek branded luxury residences in one of the UAE’s fastest-evolving coastal markets.
ABOUT ELEVATE:
At ELEVATE, we create more than homes – we design environments that reflect an enlightened way of being. For those who understand that success is a lifestyle and seek harmony between mind, body, and soul, our spaces are designed to support intentional living and meaningful connections.
ABOUT ONE GROUP:
One Group is a global real estate investment and development firm with a transaction record exceeding $2.5 billion. Its portfolio includes industry-leading subsidiaries such as One Homes, One Investments, and One Capital, with a specialization in high-value, design-forward developments in the UK and international markets.
