ALMAL CONFIRMS 23% COMPLETION AT THEIR SOLD-OUT DEVELOPMENT – THE UNEXPECTED AL MARJAN ISLAND HOTEL & RESIDENCES

Construction on track and zero delays assured by developer for the $400 Million project

Dubai, UAE: April 2026:  Almal Real Estate Development, a Dubai-based, award-winning investment and real estate development company, today announced that construction is already 23% completed, at its record-breaking, sold-out project, The Unexpected Al Marjan Island Hotel & Residences in Ras Al Khaimah. Following launch, the project sold out faster than was anticipated, achieving the highest price point per square meter on the island at AED 6.300 PSF, receiving numerous accolades and business milestones from Marjan.

Founder of Almal Real Estate Development, Dmitriy Starovoitov

The construction is progressing on schedule and without delay towards its 2027 handover. This once again reinforces ALMAL’s commitment to its buyers as well as reinstating  the sustained market value of premium developments on Al Marjan Island.

The milestone follows regular site visits by Founder of Almal Real Estate Development, 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. Amid global economic uncertainty, the uninterrupted pace of construction signals supply chain reliability, workforce stability, and sustained investor confidence, highlighting the consistency of project delivery in the UAE.

“Reaching this milestone at The Unexpected Al Marjan Island Hotel & Residences reflects disciplined execution and strong alignment across our partners,” said Starovoitov. “This sold-out project has been strongly received in the market, and the consistency of progress on site reflects the UAE’s stable and resilient economic environment, supported by reliable supply chains and sustained investor confidence. Our focus remains on delivering a high-quality, world-class project that aligns with market demand and contributes to the continued growth of Ras Al Khaimah.”

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, the UAE’s first integrated destination, set to open in 2027. Designed to blend seamlessly with its natural surroundings, the project delivers a refined beachfront experience defined by elevated amenities, world-class service, and a distinctive lifestyle offering that sets it apart within the region.

Al Marjan Island continues to gain momentum as one of the UAE’s most compelling investment destinations, positioning Ras Al Khaimah as a rising luxury and tourism hub with strong long-term fundamentals. Less saturated than Dubai, yet supported by increasingly mature infrastructure, the emirate has quietly established itself as a strategic growth market attracting international capital and developer interest.

Tourism figures reached 1.35 million visitors in 2025, marking a 6% year-on-year increase, with projections indicating growth to nearly 5.5 million visitors by 2030. The highly anticipated Wynn Al Marjan Island resort is expected to further accelerate demand in the surrounding area, reinforcing the island’s status as a focused investment zone with strong projected returns and long-term growth potential.

Almal Real Estate Development continues to expand its global portfolio across high-growth markets, delivering premium residential, hospitality, and mixed-use developments in partnership with internationally recognised operators in Bali, Cyprus and UAE.

For more information visit www.almal-investments.com

ENDS

About Almal Real Estate Development

Almal Real Estate Development is an award-winning Dubai-headquartered real estate investment and development firm specialising in high-yield residential and hospitality projects across the UAE and internationally. With a growing global footprint spanning the Middle East, Europe, and Southeast Asia, Almal is committed to redefining luxury living and hospitality through design-led, high-return developments.

The company’s portfolio includes Harrisoni La Mer, a collection of fully furnished luxury villas on Dubai’s La Mer waterfront; The Unexpected Al Marjan Island Hotel & Residences, a landmark 422-key beachfront development on Al Marjan Island, Ras Al Khaimah; and The One By Almal, a luxury residential project marking the company’s debut in Bali, Indonesia — signalling Almal’s strategic expansion into Southeast Asia’s thriving luxury real estate market.

https://almal-investments.com/

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