The UAE-based Major Developers on Tuesday announced the launch of Dh1-billion Manta Bay on Al Marjan Island in Ras Al-Khaimah, including the world’s first rooftop beach.
It will be the highest beach in the world with its own sand and seawater, the developer said.
Construction work on the project has already started and is scheduled to complete at the end of 2026.
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Andrei Charapenak, CEO of Major Developers, said the aim is to have one world record in every project that the company aims to launch in the UAE.
The residential freehold project will be built for Dh400 million, housing 450 units with prices starting from Dh1.2 million.
“We believe that it is high time to invest in Ras al Khaimah because the emirate will see a massive inflow of tourists, especially after the opening of the Wynn Resort on the Marjan Island.”
Charapenak said that there has been strong interest from the US investors in the project, especially due to the American gaming operator Wynn Resort coming to Al Marjan Island.
“Investors who buy apartments now can see their investments rising by up to 70 per cent until the completion of the project,” he said, adding that this is one of the highest returns that investors could get globally in the real estate market.
He added that the Ras Al Khaimah government expects five million tourists to visit the northern emirate after the opening of the market American gaming resort while the supply of hotels and apartments will be much less. Hence, demand and prices of properties on Al Marjan Island are set to see a massive spike in the coming years to accommodate new tenants and visitors.
Charapenak also plans to launch another project in Dubai in the near future to cash in on the rising demand for residential properties from investors and end-users in the emirate.
He added that major developers such as Aldar and Emaar have already announced projects on Al Marjan Island and this shows that there is a strong potential for investors.
Naren Vish, chief marketing officer of Major Developers, said Ras al Khaimah will capture a substantial portion of the UAE’s real estate market, supported by its strategic location, extensive infrastructure enhancements, and increasing demand.