Al Marjan Island property guide: prices, Wynn and what to check before buying

Apartments on Al Marjan Island, Ras Al Khaimah, had an average asking price of €4,193.2/m² in Q3 2026 according to CASAFARI Area Insights, the source of the price series (location id 6380198, queried 23 October 2026, outliers excluded), sitting 7.4% below Q3 2025 and 11.1% below the Q1 2026 high. Set across four reclaimed freehold islands—home to Wynn Al Marjan Island, opening September 2027—this off-plan, investor-led market is open to all nationalities. These figures are asking prices from indexed listings, not registered transaction prices.

On a Friday morning in October 2026, a Dubai-based couple drives 45 minutes north up the E11. As they turn onto the causeway into Ras Al Khaimah, the 70-storey tower of the Wynn resort is already topped out against the Gulf. They are here to view a two-bedroom off-plan flat that lists at a fraction of how Dubai waterfront prices compare. Yet when their adviser pulls the quarterly market series, a quieter detail emerges: even as the resort nears completion, the average asking price per square metre on the island has eased for three consecutive quarters.

What do apartments on Al Marjan Island cost?

In Q3 2026, the average asking price for an apartment on Al Marjan Island stood at €4,193.2/m², based on CASAFARI Area Insights data for location id 6380198 (queried 23 October 2026). It is important to read this figure for what it is: an average of asking prices from indexed listings, outliers excluded, rather than registered transaction prices at the land registry.

Over the five reliable quarters from Q3 2025 to Q3 2026, the island's asking average has moved within a relatively contained band between €4,193.2/m² and €4,718.4/m². When the series began in Q2 2025, it recorded €5,849.2/m²; that initial reading sits roughly 30% above every quarter that followed and reflects thin early listing coverage rather than a former market level, so it is shown in the chart only for transparency.

In practical terms, a 100 m² two-bedroom apartment priced at the Q3 2026 average of €4,193.2/m² lists at roughly €419,300 before registration fees and agency commission. Because developers and sellers in the United Arab Emirates price property in dirhams (AED), which are pegged to the US dollar at 3.6725, euro-denominated buyers should remember that the €/m² series also moves with the EUR/USD exchange rate. At an indicative rate of 1 EUR = 4.00 AED on 23 October 2026, that €419,300 asking price corresponds to about AED 1.68 million.

For wider emirate context, CBRE's H1 2026 Ras Al Khaimah research (published 21 September 2026) puts transaction-based apartment sale values across Ras Al Khaimah at AED 2,298 per square foot. Because that benchmark measures registered sales across the whole emirate in dirhams per square foot, it should not be compared directly with the island's euro-per-square-metre asking series.

Are prices on Al Marjan Island falling?

Asking prices on the island are easing from their launch peak rather than collapsing. Between Q3 2025 (€4,530.4/m²) and Q3 2026 (€4,193.2/m²), the average asking price declined by 7.4% according to CASAFARI Area Insights. Measured from the series high of €4,718.4/m² in Q1 2026, the Q3 2026 figure is 11.1% lower, following consecutive quarterly adjustments of -7.3% in Q2 2026 (€4,373.1/m²) and -4.1% in Q3 2026.

In an off-plan market, a declining average asking price does not necessarily mean that identical apartments are being discounted by 11%. Much of the movement reflects a change in the mix of active listings: after a wave of ultra-prime beachfront and branded launches in late 2025 and early 2026, a broader selection of mid-market apartments entered the portals, pulling the simple average per square metre towards a more moderate level.

This reconciles neatly with the transaction view. In its September 2026 report, CBRE noted that while emirate-wide apartment sale values in H1 2026 were still up roughly 18% year on year, both pricing and absorption had begun moderating since the end of February 2026. Both signals can be true at once: asking prices on portals respond quickly to new supply, while completed registration data reflect earlier off-plan launches working through the system.

Where is Al Marjan Island and what is around it?

Built by Marjan, master developer of Al Marjan Island, the archipelago consists of four coral-shaped reclaimed islands—Breeze, Treasure, Dream and View—extending 4.5 kilometres into the Arabian Gulf. Together they cover 2.7 million m², with 7.8 kilometres of sandy beaches and 23 kilometres of waterfront.

Across the causeway on the mainland sits Al Hamra Village, an established community with an 18-hole championship golf course, a marina and a shopping mall. Mina Al Arab lies further north-east along the coast, Ras Al Khaimah city is about 25 minutes away by road, and Jebel Jais in the Hajar Mountains provides an inland escape. By car via the E11 (Sheikh Mohammed bin Salem Road), the island is roughly 15 minutes from Ras Al Khaimah International Airport and 45 minutes from Dubai International Airport. At the outer tip of the archipelago, connected by the Marjan Bay Bridge, sits the 60-hectare island plot reserved for the Wynn resort.

How much does Wynn Al Marjan Island matter to prices?

The entire investment case for the archipelago is anchored by one project. According to Wynn Resorts' September 2027 opening announcement made by CEO Craig Billings alongside Q2 2026 earnings on 4 August 2026, Wynn Al Marjan Island will open to the public in September 2027. The 70-storey resort will carry more than 1,530 rooms and suites and operates under the UAE's first commercial gaming facility operator licence, granted by the General Commercial Gaming Regulatory Authority (GCGRA) on 4 October 2024.

For buyers and advisers, two details from that August 2026 update deserve calm attention. First, the opening date shifted slightly from an earlier Q1 2027 target to September 2027. Second, the estimated project cost rose by roughly US$600 million to about US$5.7 billion, reflecting construction and shipping pressures against a backdrop of regional geopolitical tension in 2026.

The resort has drawn a notable cluster of hospitality brands and developers—including Aldar with Nikki Beach Residences, Ellington, Emaar, Mondrian, Sheraton Residences, Mövenpick and Rixos—transforming a quiet northern shoreline into an international branded-residence market. Even so, an opening date is a calendar milestone, not a yield guarantee. Because CASAFARI Area Insights does not yet record a sufficient rental series for location id 6380198, any projected holiday-let return remains an underwriting assumption rather than an observed market fact.

Can foreigners buy on Al Marjan Island, and what does it cost to register?

Yes. As confirmed by Marjan, the government-owned master developer, Al Marjan Island is a designated freehold zone offering 100% foreign ownership to buyers of all nationalities. The United Arab Emirates levies no annual property tax and no personal income tax on residential rental income or capital gains, though 5% VAT applies to professional services such as brokerage.

Title registration runs through the Lands and Properties Sector of Ras Al Khaimah Municipality, where off-plan buyers register their initial sale and purchase agreement before receiving a full title deed upon handover. Because market sources conflict on the exact registration and transfer percentage in Ras Al Khaimah, buyers should confirm the current fee schedule directly with the Lands and Properties Sector of RAK Municipality before signing; alongside that fee, buyers typically pay around AED 250 for the title deed and an agency commission of 2% plus 5% VAT.

International buyers spending at least AED 2 million frequently look at residency options, which are detailed on the official UAE Golden Visa page and subject to confirmation by the emirate's land authority. Those planning to let their apartment to tourists must ensure the unit meets the holiday-home licensing rules of the Ras Al Khaimah Tourism Development Authority (RAKTDA) and their specific building's operator agreement. For wider regulatory context, see our Ras Al Khaimah area guide and the United Arab Emirates property guide.

How deep is the Ras Al Khaimah market behind the launch headlines?

To judge liquidity, it helps to step back from launch brochures and look at municipal volume. According to Ras Al Khaimah H1 2026 transaction figures via WAM from the Lands and Properties Sector of Ras Al Khaimah Municipality, the emirate recorded AED 1.353 billion in property sales across 1,274 transactions between January and June 2026. Including 463 mortgages worth AED 1.160 billion and 348 waivers worth AED 380 million, total real estate activity reached AED 2.89 billion across 2,085 transactions.

By the standards of neighbouring Dubai, this is a compact, developing market where the handover of two or three towers can shift quarterly statistics, and no official municipal breakdown isolates Al Marjan Island on its own. Demand on the island is overwhelmingly off-plan and investor-led, drawing Indian, Russian and CIS, British, European, Chinese and GCC buyers alongside expatriates already living in the UAE; primary residence remains rare while most plots are under construction. You can compare this profile with wider property market trends across the UAE.

What should a buyer check before signing an off-plan contract?

When weighing a reservation agreement on the island, a methodical checklist protects against launch premia:

• Developer escrow and registration: Verify that the project has an active escrow account and that your initial contract will be registered promptly with the Lands and Properties Sector of RAK Municipality.
• Secondary liquidity in the same building: Resale before handover can be thin when dozens of identical off-plan units compete with developer payment plans; ask your broker for evidence of completed resales rather than new launch price lists.
• Branded-residence and service charges: Review the operator agreement, annual service charge estimates per square foot, furniture package costs and whether RAKTDA holiday-let permissions are unrestricted.
• Price against the island average: If a unit is quoted well above the Q3 2026 average of €4,193.2/m², ask whether the sea view, floor plate, brand or construction stage justifies the gap. You can check an asking price against live comparables with Comparables or review the CASAFARI for investors workflows before committing.
• Currency exposure: Remember that stage payments are denominated in AED; non-dollar buyers carry exchange-rate risk across a multi-year construction schedule.

How to get the Al Marjan Island data behind this guide

Every price figure in this guide comes from the CASAFARI database, where Location Lookup resolves "Al Marjan Island" (United Arab Emirates › Ras Al Khaimah) to location id 6380198 and returns the quarterly sale_apartment_psqm series.

Analysts, wealth managers and proptech teams can read the Area Insights documentation for developers and the Comparables and valuation API documentation to pull the series directly into their own underwriting models, query the same series through Casafari MCP inside an AI assistant, or use Data Services for bulk exports. Because coverage on the island spans six quarters and does not yet include a rental series, the dataset is best used to track asking-price momentum as new towers approach handover.

Whether you are advising a client on a branded residence or benchmarking northern emirate launches against Dubai, you can create a CASAFARI account on the platform to inspect live listings and quarterly trends across the UAE.