Dubai-based Almal Real Estate Development today has announced that nearly 23 per cent of the construction work has been completed on its $400M prime project in Ras Al Khaimah – The Unexpected Al Marjan Island Hotel & Residences – and is on track for handover in 2027.
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.
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.
Designed to blend seamlessly with its natural surroundings, the project delivers a refined beachfront experience defined by elevated amenities, world-class service and a distinctive lifestyle offering that sets it apart within the region.
Almal Real Estate said following the launch, the project sold out faster than was anticipated, achieving the highest price point per square metre on the island at AED 6.300 PSF, receiving numerous accolades and business milestones from Marjan.
The milestone follows regular site visits by its Founder 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.
