Almal Real Estate Development, a Dubai-based, award-winning investment and real estate development company, recently announced that construction is already 23% completed, at its record-breaking, sold-out project, Al Marjan Island Hotel & Residences in Ras Al Khaimah.
Following the launch, the project sold out faster than was anticipated, achieving the highest price point per square meter on the island at AED 6.300PSF, receiving numerous accolades and business milestones from Marjan.
The construction is progressing on schedule and without delay towards its 2027 handover. This once again reinforces ALMAL’s commitment to its buyers as well as reinstating the sustained market value of premium developments on Al Marjan Island.
On track
The milestone follows regular site visits by Dmitriy Starovoitov, Founder, Almal Real Estate Development, 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.
“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,” asserted Starovoitov.
Located on the pristine shores of Al Marjan Island, the project is managed by the globally renowned Palladium Hotel Group and comprises 422 five-star hotel rooms and branded residential units.
Architectural elegance
Inspired by the vibrant energy of Ibiza, the development blends architectural elegance with a dynamic hospitality concept, offering direct proximity to the upcoming Wynn Al Marjan Island resort, the UAE’s first integrated destination, set to open in 2027.
Al Marjan Island continues to gain momentum as one of the UAE’s most compelling investment destinations, positioning Ras Al Khaimah as a rising luxury and tourism hub with strong long-term fundamentals.
The highly anticipated 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.
Almal Real Estate Development continues to expand its global portfolio across high-growth markets, delivering premium residential, hospitality, and mixed-use developments in partnership with internationally recognized operators in Bali, Cyprus and UAE.
