Mondrian Al Marjan Island Beach Residences

Mondrian Al Marjan Island Beach Residences is a 343-home, AED 1.8 billion development by ELEVATE on Al Marjan Island in Ras Al Khaimah, carrying the Mondrian brand and stated for handover in Q4 2028. It is the first Mondrian-branded beachfront residential scheme in the UAE.

The design takes its cue from the beach it sits on: stacked, sculpted forms modelled on pebbles shaped by tide, arranged so that sea views run uninterrupted. Fi’lia by the Beach, the Italian restaurant brand, anchors the ground floor and is open to the public as well as to residents.

The published range. One to three-bedroom residences start at AED 2.7 million. The three to five-bedroom Sky Collection starts at AED 8.8 million, and the three to four-bedroom Front Row Collection at AED 9.4 million. Above those sit beachfront townhouses, duplex villas and the sky mansions — and it is a sky mansion that produced the number this development is now known for: 10,000 sq ft over three levels, sold for AED 38 million, or roughly AED 3,800 per square foot. That is a rate Ras Al Khaimah had not previously seen.

Phase 1 has been absorbed and expressions of interest are open for Phase 2. Worth being precise about what that means: an EOI registers you for the next release. It is not an allocation, and the prices above belong to the collections as first announced rather than to whatever comes next. Ask what the Phase 2 schedule actually says before treating a registration as a position.

The rate structure is unusually flat. Taking the smallest published residence at 799 sq ft against the AED 2.7 million entry gives roughly AED 3,379 per square foot — within about twelve per cent of the AED 3,800 the sky mansion achieved. On most branded schemes the top unit carries a much wider premium: at Jacob & Co. Beachfront Living the spread from standard villa to beachfront mansion is more than two to one. Here the whole building trades in a narrow band, which tells you the entry residences are priced with conviction.

What you are actually underwriting. Al Marjan Island reprices on one event. Wynn Al Marjan Island, the first casino resort in the United Arab Emirates, received the country’s first commercial gaming licence from the General Commercial Gaming Regulatory Authority in October 2024 and is scheduled to open in September 2027. This development hands over in Q4 2028, roughly a year afterwards. If the resort opens on time and performs, a Q4 2028 handover arrives into a market with a proven anchor. That sequencing — open first, hand over second — is the most useful single fact about the timing here, and it should be a deliberate part of the decision rather than something absorbed from a brochure.

Before you commit. Ask ELEVATE for the Phase 2 price list, the floor area of the collection you are being shown, the payment schedule and the escrow bank, all in writing. Ras Al Khaimah has no public project lookup of the kind Dubai offers, so the developer is the source for all four.

The island itself is covered in our Al Marjan Island area guide.