Al Marjan Island: Fairmont Residences by Ardee, and Oystra by Zaha Hadid

Ras Al Khaimah is building out Al Marjan Island around the Middle East's first casino resort, Wynn Al Marjan Island, and developers are landing on the site one after another. In late 2025 and early 2026, two projects arrived with high-profile partners at the same time: Ardee, paired with the Fairmont hotel brand, and Richmind, paired with Zaha Hadid Architects. For an island that not long ago mostly sold renderings, this marks the shift from announcement to construction.

Fairmont Residences Al Marjan Island by Ardee: AED 2 billion and piling under way

Ardee Developments, a new entrant for whom this is a debut project, launched Fairmont Residences Al Marjan Island alongside the Fairmont Al Marjan Island Hotel, with a combined value of roughly AED 2 billion (about $544 million). The development spans nearly 1.2 million square feet of residential and hotel gross floor area. By early 2026, the project had completed its piling phase and moved into main construction — a notably fast pace for a project launched less than a year earlier. Completion is targeted for 2028.

Oystra by Richmind: a curved Zaha Hadid truss and a sold-out first phase

Next door, Richmind is building Oystra — a 128,000-square-metre seafront development designed by Zaha Hadid Architects, its two towers linked by a 40-metre curved steel truss, the whole silhouette echoing the motion of a wave. The scheme comprises 950 residences — one- to four-bedroom apartments, duplexes, penthouses and waterfront villas — plus the island's first 360-degree infinity pool and a beach club. Phase I sold out completely, and the developer has since launched sales for Phase II. Launch prices: one-bedrooms from AED 2.8 million, two-bedrooms from AED 4.7 million, three-bedrooms from AED 7.9 million, on an interest-free 60/40 plan with a 10% deposit.

	Fairmont Residences (Ardee)	Oystra (Richmind)
Architecture / brand	Fairmont hotel	Zaha Hadid Architects
Budget / scale	~AED 2bn, ~1.2m sq ft	128,000 sqm, 950 residences
Status, September 2026	piling complete, main construction under way	Phase I sold out, Phase II on sale
Completion	2028	not publicly announced for Phase II

What it means for an investor

Both projects point to the same signal: Al Marjan is moving past the announcement stage. Piling work at Ardee's site and a sold-out first phase at Oystra are proof of demand backed by actual money, not just press releases. Entry logic on the island still hinges on one factor more than any other — distance from the Wynn casino and its opening date. The closer a project sits to the resort, and the earlier a buyer enters the sales cycle, the more room there is for value to grow by the time Al Marjan is running at full capacity.

For a full breakdown of the island and the logic behind its casino-driven build-out, see our piece on the UAE's first casino on Al Marjan Island.