Richmind, a premium developer of ultra-luxury real estate projects, has announced the sales launch of Phase II of its flagship development, Oystra, designed by Zaha Hadid Architects (ZHA) on Al Marjan Island in Ras Al Khaimah.
This comes following an unprecedented response from buyers and investors for its Phase I units ultimately resulting in its complete sellout.
Designed by Zaha Hadid Architects (ZHA), the project marks the firm’s first residential development on Al Marjan Island, Oystra by Richmind has witnessed exceptional demand from overseas markets, stated the developer.
Data from Phase 1 reveals that over 50% of buyers hail from Europe, underscoring the project’s appeal to sophisticated global investors.
Significant interest was also recorded from key markets such as US, Canada, China, Australia and Turkey.
As part of Phase II, Richmind also teased the upcoming release of limited edition ultra-luxury penthouses. Expected to list for around AED75 million, these exclusive residences will set a new benchmark for pricing and exclusivity on Al Marjan Island.
To celebrate this milestone, Richmind hosted a Phase 2 launch event recently at Ain Dubai. The evening was headlined by renowned DJ Shimza, who curated an immersive sonic experience for a select guest list of investors, dignitaries, and industry elites, mirroring the avant-garde spirit of the Oystra development.
On the solid response, CEO Mohammad Rafiee said: “The sell-out of Phase 1 is a resounding validation of our vision to bring art into living. Oystra has resonated deeply with the international community, particularly those in Europe who value the fusion of iconic Zaha Hadid architecture with functional luxury – at an evergrowing lifestyle destination like Al Marjan Island.”
“Our Phase II launch will see even more exclusivity, premium offerings and limited edition homes, setting this new standard of UAE living to the world. The interest from global investors to buy property in the UAE is a trend we will continue to cater to. Our recent expansion into China with a sales office in Shanghai and our collaboration with Harrods in London in February are strategic steps to be closer to our global clientele,” stated Rafiee.
Responding to this global appetite, Richmind has expanded its presence in key global markets, with the recent opening of a sales office in Shanghai, to serve Far Eastern investors.
Furthermore, Richmind is bringing Oystra directly to European investors through a series of high-profile roadshows scheduled for February, including stops in Manchester, Hamburg, and an exclusive showcase at Harrods in London, he added.
The landmark project offers residents access to over 50 world-class amenities, including a 150m crystal-clear lagoon, a branded Luxe European spa, dedicated yoga pavilions and a state-of-the-art golf simulator, collectively designed to elevate the living experience. With the construction in full swing, it is set for 2029 handover.
Richmind will also be announcing a collaboration with a luxury hospitality brand this year, bringing curated serviced residences and exclusive high-end F&B offerings to the community, said Rafiee.
The crown jewel of the development’s leisure offerings is Ras Al Khaimah’s first and only 360° infinity pool, offering some of the most dramatic views on Al Marjan Island. This is complemented by a world-renowned Beach Club and a dedicated 24-hour, 5-star concierge service, ensuring a hotel-standard lifestyle for all residents, he added.
Christos Passas, Director of Design at Zaha Hadid Architects, said: “With Phase II launch, we continue the narrative of fluid elegance. The architecture of Oystra is designed to engage with the elements, the sea, the wind, and the light. We are thrilled to see how well the design has been received globally.”
“It confirms that there is a universal language for beauty and innovation, and we look forward to seeing this second phase come to life, offering residents a spatial experience that is both grounding and limitless,” he added.-TradeArabia News Service
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