Mondrian Al Marjan Island Records AED 73 Million Residential Deal
Mondrian Al Marjan Island Beach Residences has recorded an AED 73 million property transaction involving four homes purchased by a buyer from North America. The deal was completed in September 2026, according to the announcement published on 14 October.
The development, located on Al Marjan Island in Ras Al Khaimah, is being developed by ELEVATE in partnership with Ennismore. Following the transaction, the project has reached 75% in overall sales, marking another milestone for the beachfront residential development.
The AED 73 million purchase includes four properties: a five-bedroom penthouse, a four-bedroom penthouse, a three-bedroom townhouse and a three-bedroom residence. The transaction brings together several types of homes within the same development, rather than involving a single apartment or villa.
Mondrian Al Marjan Island reaches 75% sold
Alongside the sales progress, construction work is advancing at the site. Shoring works are complete, while piling works have reached 80%, according to the project announcement.
The development also recorded more than AED 100 million in closed sales during August 2026 alone. These figures provide a snapshot of its recent sales activity as construction continues.
Zeeshaan Shah, Founder and Chairman of ELEVATE, credited the project's design, amenities and hospitality partnership with Ennismore for its market response. He also pointed to the wider changes taking place on Al Marjan Island, where tourism and hospitality developments are attracting attention from international investors.
Another development drawing interest to the area is Wynn Al Marjan Island. The integrated resort is expected to open in less than 12 months, according to ELEVATE's announcement. The company sees the upcoming resort as an important factor in the island's future as a tourism and lifestyle destination. However, the broader impact on residential property demand remains to be seen.
New beachfront residences introduced
ELEVATE has also brought previously unreleased two-bedroom residences to market as a special offering. These homes occupy front-row positions directly on the beachfront. They feature connected guest suites, providing additional space for family members and visitors while retaining privacy.
The AED 73 million transaction adds to the development's reported sales activity and highlights interest from an overseas buyer. With construction progressing and the project now 75% sold, Mondrian Al Marjan Island Beach Residences continues to develop amid changes in Ras Al Khaimah's coastal property and hospitality markets.
