A total of Dh180 million was spent on the sale of two of the priciest homes on Al Marjan Island.
The Celest and The Stellar, at the apex of the company’s Oceano development in Ras Al Khaimah, are up for sale, according to a statement released by the UAE-based real estate development company The Luxe Developers.
Sold off-plan for Dh90 million each, the two sky villas highlight the demand for ultra-luxurious real estate in tandem with the rise in local and international ultra-high net worth individuals (UHNWIs) moving 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, located on the top two floors of the development and spanning more than 22,000 square feet, has a large kitchen, seven bedrooms, and several living areas with sunken seating for entertaining.
With two floors and over 21,000 square feet, the six-bedroom Stellar offers comparable living arrangements. The development’s appeal to investors is further increased by the fact that both properties provide a calm and opulent living environment, unobstructed views of the beach and the ocean across Al Marjan Island, and are ideally situated only two minutes from the multibillion-dollar Wynn integrated resort.
To satisfy even the most discriminating tastes, the sky villas are furnished with an array of luxurious finishes and conveniences. The internationally recognized Hirsch Bedner Associates designed the interiors for them.
Both homes feature state-of-the-art smart technology that seamlessly controls air conditioning, lighting, and curtains, ensuring maximum comfort at the push of a button. This embraces the future of residential living.
The properties were successfully sold under the supervision of property consultant Hajar Renoncourt and sales director Onkar Singh of The Luxe Developers. The team brought some of the most well-known names in business to Oceano as investors by using a network of exclusive brokers to target clients in the specialized ultra-luxury real estate market.
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.”
As the master developer of freehold real estate in Ras Al Khaimah, Marjan is in charge of projects like Al Marjan Island, which aims to establish Ras Al Khaimah as one of the top travel and investment destinations in the area. The goal of Marjan’s strategic master-planning approach is to take advantage of Ras Al Khaimah’s natural resources and establish the groundwork for the Emirate’s future growth by creating waterfront, urban, and mountain destinations that will increase the emirate’s competitiveness. Marjan’s world-class master-planned communities in Ras Al Khaimah draw both foreign tourists and foreign investment, establishing the Emirate as a major destination for both.
