Luxury development deal marks major expansion in real estate and hospitality outside Dubai.
Marjan, one of the largest real estate developers, has announced the acquisition of a premier beachfront property in its newest mixed-use destination, Marjan Beach, by Wasl Group, one of the UAE’s leading real estate and hospitality developers.
The landmark transaction marks Wasl Group’s debut in Ras Al Khaimah, highlighting the emirate’s continued growth as a hub for investment, tourism and coastal living, in alignment with RAK Vision 2030. It also represents a strong addition to Wasl Group’s real estate land portfolio, supporting the company’s aspirations to develop more world-class communities in landmark locations across the emirate.
Architectural Excellence with Elevated Lifestyle Experiences
Wasl Group’s flagship development will include a five-star hotel and branded residences that combine architectural excellence with elevated lifestyle experiences. The project will offer panoramic views of the Arabian Gulf and direct access to Ras Al Khaimah’s growing portfolio of leisure, wellness and cultural attractions.
Located along the shoreline of Marjan Beach, the plot of land acquired by Wasl Group is strategically placed near Al Hamra Village with direct view of Al Marjan Island’s world-class recreational and tourist facilities. It is further supported by robust infrastructure and a wide network of roads enhancing accessibility to the project.
Abdulla Al Abdouli, Group Chief Executive Officer, Marjan, commented: ” 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.”
H.E. Hesham Al Qassim, Chief Executive Officer of Wasl Group, 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.”
This development will feature an ultra-luxury resort managed by a globally renowned hospitality brand, along with branded residences offering private amenities, concierge services and curated dining, wellness and retail experiences. The project will be developed in line with sustainability standards, supporting Ras Al Khaimah’s environmental goals and Wasl Group’s broader sustainability agenda.
The acquisition reinforces Marjan Beach’s role as a catalyst for high-value investment and tourism growth, supporting RAK Vision 2030’s targets of 3.5 million annual visitors and nearly 20,000 hotel keys. Construction is scheduled to begin in 2026, with phased openings expected from 2029 onward.
Eight Distinctive Neighbourhoods
Designed around eight distinctive neighbourhoods, Marjan Beach will comprise 22,000 residential units and 12,000 hotel keys, hosting a population of approximately 74,000residents and a workforce of 32,000. The destination will attract up to 180,000 visitors annually and will span 3 km of pristine beachfront and 6.5 million sq. ft. of open green spaces. Its walkable design and community-focused planning will further position Ras Al Khaimah as a sustainable investment hub and a leading tourism destination.
Overlooking the scenic waters of the Arabian Gulf in general and Al Marjan Island in particular, Marjan Beach is located in close proximity to notable developments such as Wynn Al Marjan Island, Al Hamra Village, RAK Central and the Ras Al Khaimah Economic Zone (RAKEZ). The sustainable masterplan features residences, hotels, offices and leisure hubs, offering a holistic coastal lifestyle designed around wellbeing and connectivity.