Almal Real Estate Development announced that the construction of the ‘Unexpected Al Marjan Island Hotel & Residences’ in Ras Al Khaimah is 23% complete. Following its launch, the project is said to have achieved the highest price per square metre on the island.
The construction of the project is progressing on schedule and without any delay towards its 2027 handover. This reaffirms ALMAL’s commitment to its buyers and reinstates the sustained market value of developments on Al Marjan Island, the developer said.
The milestone follows regular site visits by Founder of Almal Real Estate Development, Dmitriy Starovoitov, who confirmed that construction activity remains fully on track, with no delays or disruption, as cranes move continuously and development milestones are met.
Amid global economic uncertainty, the uninterrupted pace of construction signals supply chain reliability, workforce stability, and sustained investor confidence, highlighting the consistency of project delivery in the UAE.
“Reaching this milestone at The Unexpected Al Marjan Island Hotel & Residences reflects disciplined execution and strong alignment across our partners,” said Starovoitov. “This sold-out project has been strongly received in the market, and the consistency of progress on site reflects the UAE’s stable and resilient economic environment, supported by reliable supply chains and sustained investor confidence. Our focus remains on delivering a high-quality, world-class project that aligns with market demand and contributes to the continued growth of Ras Al Khaimah.”
Located on the shores of Al Marjan Island, this project will be managed by Palladium Hotel Group, and features 422 five-star hotel rooms and branded residential units. Inspired by Ibiza, the development blends architecture with a dynamic hospitality concept, providing direct access to the upcoming Wynn Al Marjan Island resort, scheduled to open in 2027.
The project is said to offer a refined beachfront experience characterised by elevated amenities, services, and a distinctive lifestyle that sets it apart within the region.
Al Marjan Island continues to gain traction as one of the UAE’s most enticing investment destinations, positioning Ras Al Khaimah as a rising luxury and tourism hub with long-term prospects. This emirate has quietly established itself as a strategic growth market, attracting international capital and developer interest.
Tourism figures reached 1.35m visitors in 2025, marking a 6% year-on-year increase, with projections indicating growth to nearly 5.5m visitors by 2030. The Wynn Al Marjan Island resort is expected to further accelerate demand in the surrounding area, reinforcing the island’s status as a focused investment zone with strong projected returns and long-term growth potential, the statement concluded.
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