Wasl Group, one of the top real estate and hotel developers in the United Arab Emirates, has purchased a prestigious beachfront property in its newest mixed-use destination, Marjan Beach in Ras Al Khaimah, according to Marjan, a significant real estate developer.
In keeping with RAK Vision 2030, the historic deal represents Wasl Group’s entry into Ras Al Khaimah and highlights the emirate’s ongoing development as a center for tourism, investment, and seaside living.
Additionally, it is a significant addition to Wasl Group’s real estate holdings and supports the company’s goals of creating new world-class communities in strategic places around the emirate.
Marjan claims that the Wasl Group’s flagship project will feature branded homes that blend superior architecture with high-end lifestyle experiences, as well as a five-star hotel.
It will provide easy access to Ras Al Khaimah’s expanding array of recreational, health, and cultural activities as well as expansive vistas of the Arabian Gulf.
It further stated that phased openings are anticipated starting in 2029, with construction starting in 2026.
Marjan Group CEO Abdulla Al Abdouli said: “Ras Al Khaimah’s rising global appeal as a lifestyle and investment hub of the future and Marjan’s commitment to enabling world-class developments is reflected in this acquisition by Wasl Group.”
“The launch of the first luxury project within the Marjan Beach master plan significantly expands our portfolio with unique, high-end villas and apartments. This also reinforces our position as Ras Al Khaimah’s leading developer and accelerates our vision to delivering long-term, sustainable value through pioneering destinations,” he added.
Marjan Beach, which is built around eight unique neighborhoods, will have 12,000 hotel keys and 22,000 residential units, housing about 74,000 people and employing 32,000 people.
Wasl Group CEO Hesham Al Qassim said: “We are pleased to expand Wasl Group’s footprint to Ras Al Khaimah through this landmark project. The development represents our confidence in the emirate’s long-term vision and our commitment to delivering distinguished destinations that appeal to residents, investors and visitors alike.”
“Marjan Beach provides the ideal masterplan for us to bring our expertise in real estate and hospitality to a new market, furthering our mission to enhance quality of life across the UAE,” he added.