LAST OF THE BEACHFRONT: ELEVATE ANNOUNCES AED 127.5M TRANSACTION AT MONDRIAN AL MARJAN ISLAND AS SUPPLY TIGHTENS
Landmark transaction reflects growing demand for design-led, lifestyle-driven beachfront living in Ras Al Khaimah
Dubai, UAE – May 2026 – ELEVATE, the visionary lifestyle real estate brand behind Mondrian Al Marjan Island Beach Residences, developed in partnership with globally recognised lifestyle hospitality company Ennismore, has announced a landmark transaction exceeding AED 127.5 million at the project, underscoring the extraordinary demand for premium branded beachfront residences on Al Marjan Island.
The transaction was made by THRIVESTATE Square Real Estate, reflecting growing investor confidence in Ras Al Khaimah’s evolving luxury residential landscape and the increasing global appetite for design-led waterfront living experiences in the emirate.
The deal underscores sustained momentum within Al Marjan Island, where demand continues to accelerate for premium beachfront residences that combine lifestyle, design, hospitality, and long-term value. With beachfront inventory on the island becoming increasingly constrained by geography, buyers are showing heightened interest in developments that offer both scarcity and cultural relevance.
Zeeshaan Shah, Founder & CEO of ELEVATE, said: “The market response has been nothing short of phenomenal, and we are honoured to have built this momentum alongside an exceptional community of broker partners and buyers who share our vision.
“This also marks the arrival of Ras Al Khaimah on the global stage. After the Burj Al Arab, the Burj Khalifa, and the Louvre Abu Dhabi, the Wynn Al Marjan is the UAE’s next global icon, and its opening next year will be a headline event felt around the world. At the heart of this transformation is Mondrian Al Marjan Island Beach Residences: a living destination for those who seek art, culture, beauty, and a deeper, more intentional way of life. Prime beachfront real estate here is now extremely limited, very soon, we will be speaking of it only in hindsight.”
Reflecting the project’s strong market momentum, ELEVATE recently hosted an exclusive gathering for leading UAE brokers at Delano Dubai, celebrating the broker community whose support and market conviction have contributed to the project’s continued success. The development has now achieved close to 200 residences sold, reinforcing the growing demand for branded beachfront living on Al Marjan Island and the broader momentum currently shaping Ras Al Khaimah’s luxury real estate market.
Lior Poly, CEO of THRIVESTATE Square Real Estate, added “Mondrian Al Marjan Island Beach Residences stood out for its strong lifestyle positioning, iconic branding, and clear appeal to both primary and second-home buyers. The project captures the essence of modern beachfront living by combining design excellence with a compelling cultural and hospitality offering.”
Following the strong uptake of its residential offerings, the project is preparing to introduce a limited collection of exclusive townhouses and sky villas, presenting buyers with a rare opportunity to own highly curated, design-led homes within one of the UAE’s most anticipated beachfront developments.
Construction continues to progress steadily on site, with shoring now 100% complete, anchor installation at 80%, and excavation progressing at 50%. Handover remains targeted for 2029.
Mondrian Al Marjan Island Beach Residences has emerged as one of the standout developments within this evolving market. Following its Q4 2025 launch, residences were reserved within hours, highlighting strong demand from both regional and international buyers seeking a more experience-led approach to luxury living.
ENDS
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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. Website: www.liveelevated.com
ABOUT MONDRIAN Mondrian is a series of forward-thinking hotels and residences rooted in art, design and culture. Groundbreaking interiors, immersive art installations and inventive culinary experiences are hallmarks of a Mondrian, as are dream-like spaces that reflect the city it inhabits. Visionary collaborators and progressive programming bring each location to life, generating an energy that appeals to the culturally curious and attracts locals and travellers alike. With properties at the forefront of some of the world’s most exciting established and emerging cultural hubs in Singapore, Los Angeles, Miami, Doha, Mexico City, Cannes, Bordeaux, Seoul, Hong Kong, Ibiza and Australia’s Gold Coast, the brand is experiencing tremendous growth with upcoming openings in the Maldives, Bucharest and Abu Dhabi.
Mondrian Hotels & Residences is part of Ennismore, a creative hospitality company rooted in culture and community, with a global collective of entrepreneurial and founder-built brands with purpose at their heart. Formed in 2021, Ennismore is a joint venture with Accor, which holds a majority shareholding. ennismore.com