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Two most expensive residences in Al Marjan Island sold at over Dh180 million

The Sky Villas form part of the Dh1.5 billion Oceano luxury development

Two of the most expensive residences located on Al Marjan Island have been sold at a total price of Dh180 million.

The Luxe Developers, a UAE-based real estate development firm, has announced the sale of The Celest and The Stellar, located at the pinnacle of the company’s Oceano development in Ras Al Khaimah.

The two sky villas, sold off-plan at Dh90 million each, underscore the demand for ultra-luxurious properties in line with the increase in overseas and local ultra high networth individuals (UHNWIs) relocating to Ras Al Khaimah.

Abdulla Al Abdouli, chief executive officer, Marjan, the master developer of freehold properties in Ras Al Khaimah, said: “The sale of these two luxurious high-end properties underscores Al Marjan Island’s growing appeal as a sophisticated destination offering an exclusive lifestyle on par with global benchmarks. We have been the cynosure of international high-net-worth-individuals seeking to set up home in one of the most dynamic and picturesque neighbourhoods in the region, with top class amenities and incredible facilities. This is a major marker in our growth as a preferred investment hub while reflecting the significant growth opportunities for the real estate sector in the area.”

The Celest and The Stellar are the most expensive residences in Ras Al Khaimah. They offer a “unique and exquisite living experience, epitomised by their spacious and sophisticated design, which eclipses anything currently available on the real estate market in the emirate”, a statement said.

Shubam Aggarwal, chairman and co-owner of The Luxe Developers, said: “Our strategic decision to launch these properties was in response to our research, which indicated there was solid demand for ultra-luxurious properties in RAK. The fact that these specific properties have only been on the market for less than four months underscores the accuracy of our initial assessment. Unique quality in a sought-after location will always sell, and we are steadfast in our belief.”

The Celest, which spans over 22,000 square feet on the top two floors of the development, features seven bedrooms, multiple living areas with sunken seating for hosting, and an extensive kitchen.

The six-bedroom Stellar, split across two levels, spans more than 21,000 square feet and features similar living arrangements. Both properties offer a serene and luxurious living experience, uninterrupted beach and sea views across Al Marjan Island, and are conveniently located just two minutes from the multi-billion-dollar Wynn integrated resort, further enhancing the development’s attractiveness for investors.

The sky villas are equipped with a host of top-notch finishes and amenities designed to cater to the most discerning tastes. They feature interior design by the globally acclaimed Hirsch Bedner Associates.

Embracing the future of residential living, both properties are fitted with cutting-edge smart technology, which effortlessly controls lighting, curtains, and air conditioning, ensuring optimal comfort with the touch of a button.

Onkar Singh, sales director at The Luxe Developers, and property consultant Hajar Renoncourt oversaw the successful sale of the properties. The team utilised a network of exclusive brokers targeting clientele in the niche ultra-luxury real estate segment, welcoming some of the most renowned figures in the business world as investors to Oceano.

Siddharta Banerji, managing director and co-owner of The Luxe Developers, said: “Our sales team’s commitment has been exemplary, and we’re delighted they have become an integral part of our success story. Their expertise in showcasing the finest materials and bespoke finishes throughout the development was instrumental in closing the deal.”

Marjan is the master-developer of freehold property in Ras Al Khaimah, responsible for developments such as Al Marjan Island aimed at positioning Ras Al Khaimah as one of the region’s leading tourism and investment destinations. Mandated with developing waterfront, urban and mountain destinations that will add to the competitiveness of the emirate, Marjan’s strategic master-planning approach is to leverage Ras Al Khaimah’s natural assets and lay the foundations of the Emirate’s future expansions. Through its world-class master-planned communities in Ras Al Khaimah, Marjan attracts foreign investment as well as international visitors and positions the Emirate as a strong investment and tourism hub.