Dubai-based Almal Real Estate has announced that work is in full swing on its $400-million prime Ras Al Khaimah project – The Unexpected Al Marjan Island Hotel & Residences – and is on track for handover next year.

Located on the pristine shores of Al Marjan Island, the project is managed by the globally-renowned Palladium Hotel Group, and comprises 422 five-star hotel rooms and branded residential units. 

Inspired by the vibrant energy of Ibiza, the development blends architectural elegance with a dynamic hospitality concept, offering direct proximity to the upcoming Wynn Al Marjan Island resort. 

Almal Real Estate said following the launch, the project sold out faster than was anticipated, achieving the highest price point per sq m on the island. 

The milestone follows regular site visits by its Founder Dmitriy Starovoitov, who confirmed that construction activity remains fully on track, with no delays or disruption, as cranes move continuously and development milestones are met, said the developer. 

Amid global economic uncertainty, the uninterrupted pace of construction signals supply chain reliability, workforce stability, and sustained investor confidence, it added.