ELEVATE sells Crown Jewel for $10.35mn and opens EOIs for Phase 2
The Sky Mansion spans 10,000sqft across three levels, and boasts 28ft ceiling heights, floor-to-ceiling windows, and exclusive outdoor living spaces
ELEVATE has made a significant announcement regarding a landmark transaction at the Mondrian Al Marjan Island Beach Residences. This announcement was made just days after the project’s ground-breaking ceremony; the development’s Crown Jewel offering, an ultra-exclusive sky mansion, has been sold for US $10.35mn, the firm said.
The sale sets a new benchmark for ultra-luxury real estate in Ras Al Khaimah. The property, which epitomises the pinnacle of beachfront living in the Northern Emirates, was sold within hours of its release. This highlights the strong demand for high-end branded residences located near the upcoming $5.1bn Wynn Resort, said a statement.
The Sky Mansion spans 10,000sqft across three levels, and boasts 28ft ceiling heights, floor-to-ceiling windows, and exclusive outdoor living spaces, including a private roof garden and a private infinity pool. The residence offers panoramic views of the ocean and the neighboring Wynn Al Marjan Island.
Zeeshaan Shah, Founder & Chairman of ELEVATE said, “The sale of our Sky Mansion at $10.35mn is a defining moment for Mondrian Al Marjan Island Beach Residences and for Ras Al Khaimah’s luxury real estate market.With limited inventory and EOIs now officially open for Phase 2, demand continues to significantly outpace supply. Phase 1 was absorbed at record speed, and based on the traction we’re already seeing, we expect Phase 2 to follow the same trajectory. Buyers recognise that Mondrian Al Marjan Island Beach Residences is not just a residence, but a lifestyle investment in one of the UAE’s fastest-rising destinations.”
Haider Ibrahim, Sales Director at ELEVATE added, “From the very first release, buyer response has been exceptional, and the Sky Mansion sale reflects the calibre of clientele the project is attracting. Investors and end-users are drawn to the combination of beachfront positioning, branded living, and long-term upside driven by the Wynn destination next door. Phase 2 offers a rare opportunity to enter at this stage of the project, and we’re already seeing strong interest across all collections.”
With a surge in demand from both international investors and end-users, the developer has unveiled specific details about the remaining inventory types. These include 1 to 3 bedroom residences, 3 to 5 bedroom sky collections, and 3 to 4 bedroom front row collections. The development marks Mondrian’s inaugural beachfront residential project in the region. It boasts a bold design DNA crafted by architects Gensler and interior by Bergman Design House, the statement noted.
Residents can indulge in an array of over 60,000sqft of curated amenities. These include Fi’lia by the Beach, the Residents’ Sky Club, a fully equipped fitness studio featuring an outdoor gym, personal training studio, and recovery zone, as well as multiple swimming pools. Homeowners will also have access to Mondrian’s signature essential and on-demand services, along with an exclusive invitation to join Platinum Status within the Accor Owner Benefits Program, the statement concluded.
