Marjan, a key real estate developer, has announced that Wasl Group, one of the UAE’s leading real estate and hospitality developers, has acquired a premier beachfront property in its newest mixed-use destination, Marjan Beach, in Ras Al Khaimah. 

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.

According to Marjan, the Wasl Group’s flagship development will include a five-star hotel and branded residences that combine architectural excellence with elevated lifestyle experiences. 

It will offer panoramic views of the Arabian Gulf and direct access to Ras Al Khaimah’s growing portfolio of leisure, wellness and cultural attractions.

Construction is scheduled to begin in 2026, with phased openings expected from 2029 onward, it added.

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.

Designed around eight distinctive neighbourhoods, Marjan Beach will comprise 22,000 residential units and 12,000 hotel keys, hosting a population of approximately 74,000 residents and a workforce of 32,000. 

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.-TradeArabia News Service