The billion-dollar Oceano luxury development in Ras Al Khaimah has made headlines again with the sale of two of its most expensive residences on Al Marjan Island for a combined Dh180 million.
The Luxe Developers, a UAE-based real estate firm, has confirmed the off-plan sale of The Celest and The Stellar, both located at the apex of the company’s Oceano project in RAK. Each sky villa was sold for Dh90 million, reflecting the growing demand for ultra-luxurious properties among both international and local ultra-high-net-worth individuals (UHNWIs) moving to Ras Al Khaimah.
Abdulla Al Abdouli, CEO of Marjan, the master developer of freehold properties in Ras Al Khaimah, commented: “The sale of these high-end properties highlights Al Marjan Island’s increasing appeal as a sophisticated destination that offers an exclusive lifestyle comparable to global standards. We have attracted international high-net-worth individuals looking to settle in one of the region’s most dynamic and scenic neighborhoods, complete with top-tier amenities and facilities. This milestone underscores our position as a preferred investment hub and signifies significant growth potential for the real estate sector in the area.”
The Celest and The Stellar are the priciest residences in Ras Al Khaimah, offering a “distinct and opulent living experience, characterized by their expansive and elegant design, which surpasses anything currently available in the emirate’s real estate market,” according to a statement.
Shubam Aggarwal, chairman and co-owner of The Luxe Developers, stated: “Our decision to launch these properties was based on our research, which indicated a strong demand for ultra-luxurious properties in RAK. The fact that these properties sold within less than four months of being on the market validates our initial assessment. Unique quality in a prime location will always attract buyers, and we remain confident in this belief.”
The Celest, spanning over 22,000 square feet across the top two floors, features seven bedrooms, multiple living areas with sunken seating for hosting, and a spacious kitchen. The six-bedroom Stellar, spread over two levels and covering more than 21,000 square feet, offers similar living arrangements. Both properties provide a serene and luxurious living environment, with uninterrupted views of the beach and sea across Al Marjan Island, and are just a two-minute drive from the multi-billion-dollar Wynn integrated resort, enhancing the development’s appeal to investors.
The sky villas are equipped with premium finishes and amenities tailored to meet the highest standards, featuring interior design by the globally renowned Hirsch Bedner Associates. Both properties are also fitted with advanced smart technology that seamlessly controls lighting, curtains, and air conditioning, ensuring maximum comfort at the touch of a button.
Onkar Singh, sales director at The Luxe Developers, and property consultant Hajar Renoncourt managed the successful sale of the properties. They utilized a network of exclusive brokers targeting the niche ultra-luxury real estate segment, attracting some of the most prominent figures in the business world as investors in Oceano.
Siddharta Banerji, managing director and co-owner of The Luxe Developers, added: “Our sales team’s dedication has been outstanding, and we are thrilled they have played a crucial role in our success. Their expertise in highlighting the finest materials and bespoke finishes throughout the development was key to securing the deal.”
Marjan, the master developer of freehold property in Ras Al Khaimah, is responsible for projects like Al Marjan Island, aimed at positioning Ras Al Khaimah as a leading tourism and investment destination in the region. Marjan’s strategic approach involves leveraging Ras Al Khaimah’s natural assets to create waterfront, urban, and mountain destinations that enhance the emirate’s competitiveness. Through its world-class master-planned communities, Marjan attracts foreign investment and international visitors, positioning Ras Al Khaimah as a robust investment and tourism hub.
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