Two ultra-luxury sky villas on Al Marjan Island have sold for a combined Dh180 million, marking the highest residential sales in Ras Al Khaimah to date. The Luxe Developers, a UAE-based real estate firm, announced that both villas, named The Celest and The Stellar, sold for Dh90 million each, underscoring a surge in demand for elite properties as high-net-worth individuals increasingly relocate to the emirate.
The properties, part of Luxe Developers’ Oceano project, were sold off-plan within four months of listing, reflecting a growing market for premium residences. Abdulla Al Abdouli, CEO of Marjan, the master developer overseeing Al Marjan Island, highlighted the island’s attraction to global investors, calling it a “sophisticated destination offering an exclusive lifestyle.” Al Abdouli added, “We have become a preferred choice for international high-net-worth individuals seeking luxury living combined with world-class amenities. This milestone sale emphasizes Ras Al Khaimah’s rising status as a prime investment hub with significant potential for real estate growth.”
The Celest and The Stellar are not only the priciest homes in Ras Al Khaimah but also set new standards in luxury. The Celest spans over 22,000 square feet, featuring seven bedrooms, expansive living areas with sunken seating, and a grand kitchen for entertaining. Its counterpart, The Stellar, is a six-bedroom villa covering more than 21,000 square feet, offering similar high-end layouts across two levels. Both properties boast uninterrupted views of the sea and Al Marjan Island and are within minutes of the multi-billion-dollar Wynn integrated resort, enhancing their appeal to investors.
The villas showcase high-end finishes designed by the renowned Hirsch Bedner Associates and come equipped with advanced smart home technology, enabling residents to control lighting, curtains, and climate with ease. Shubam Aggarwal, chairman and co-owner of The Luxe Developers, noted that the rapid sale validates the company’s strategy. “We anticipated strong demand for ultra-luxury residences in RAK, and these sales confirm it. Unique quality in a prime location will always attract buyers,” he said.
The sales were managed by Luxe Developers’ sales director, Onkar Singh, and property consultant Hajar Renoncourt, who engaged a network of exclusive brokers targeting ultra-luxury clientele. According to Siddharta Banerji, managing director and co-owner of Luxe Developers, “Our sales team’s dedication was essential to this success. Their expertise in highlighting the bespoke materials and finishes was instrumental in closing the deals.”
Marjan’s broader vision for Al Marjan Island aligns with Ras Al Khaimah’s aspirations to become a top destination for both tourism and investment. Tasked with developing waterfront and urban projects, Marjan leverages Ras Al Khaimah’s natural beauty to attract foreign investors, drawing attention to the emirate’s unique appeal as a high-end real estate and tourism hub.
