4BR in Oceano, Al Marjan Island at AED 8,900,000 - 9.5% Below OP, 70% Paid, Near Handover

Property Overview

A 4-bedroom apartment in Oceano by The Luxe Developers on Al Marjan Island, Ras Al Khaimah at AED 8,900,000 for 3,670 sqft (341 sqm), equalling AED 2,425 per sqft. 9.5% below the original price of AED 9,829,964, saving AED 929,964. The seller has paid 70% of the purchase price to the developer. Near handover (Q4 2026).

Property Highlights

• Type: 4-bedroom apartment (plus maid room)
• Size: 3,670 sqft (341 sqm)
• Asking price: AED 8,900,000
• Original price: AED 9,829,964
• Saving: AED 929,964 (9.5%)
• Rate: AED 2,425 per sqft
• Paid to developer: 70%
• Remaining to developer: 30% on handover
• Handover: Q4 2026

Below OP Analysis

At AED 8,900,000 vs AED 9,829,964 OP, the saving is AED 929,964 (9.5%).

OP Verification Note

A Bayut listing for a 4BR unit in Oceano at AED 8,900,000 states a different OP of AED 9,266,558 for a 3,410 sqft unit. This listing is for a 3,670 sqft unit with an OP of AED 9,829,964 per the agent. The size difference (3,670 vs 3,410 sqft) suggests these are different units with different original prices. Buyers should verify the OP from the original SPA.

Active Listings

• AED 8,900,000 for 3,410 sqft (OP AED 9,266,558, 70% paid) on Bayut
• AED 12,866,000 for 340 sqm on Emirates.Estate (price history shows AED 12M in Dec 2025)

Expired Property Finder listings for 4BR units ranged from AED 10,500,000 (3,412 sqft, AED 3,077 per sqft) to AED 11,300,000 (3,664 sqft, AED 3,084 per sqft). At AED 2,425 per sqft, this listing is priced below the expired listings.

Payment Structure for Buyers

The payment plan is 5% booking, 65% construction, 30% handover. With 70% already paid:

• Remaining to developer on handover: 30% of OP = approximately AED 2,949,000
• Amount payable to seller: AED 8,900,000 minus AED 2,949,000 = approximately AED 5,951,000
• Total buyer outlay: approximately AED 8,900,000 plus agency commission and transfer fees

The 70% payment completion and near-handover status reduce construction risk for the buyer.

About Oceano

Oceano is a twin-tower premium residential development on Al Marjan Island by The Luxe Developers. Each tower has 17 storeys with 206 units in total, connected by floating bridges at the 6th, 7th and 13th levels. The development includes two ultra-luxury residences: The Celeste (approximately 22,000 sqft, 7 bedrooms) and The Stellar (approximately 21,000 sqft, 6 bedrooms), each valued at AED 90M. Construction is by China State Construction Engineering Corporation (CSCEC). Interior fit-out was contracted in early 2026 for AED 150M.

RAK Market Context

Al Marjan Island branded units currently trade around AED 4,800 per sqft. At AED 2,425 per sqft, Oceano is positioned as premium but non-branded. RAK property prices have rallied significantly, with some Al Marjan Island areas approaching AED 2,000 per sqft for standard stock. The Wynn resort (expected Q1 2027) is the primary demand catalyst. Over 11,000 residential units are scheduled across the island by 2030, creating supply risk.

Verification Notes

The asking price, OP, size, 70% payment status and Q4 2026 handover are from the agent brief. The 341 sqm (3,670 sqft) is consistent with the larger 4BR layout (listings show 3,664 sqft for this variant). The 9.5% saving is verified (929,964 divided by 9,829,964). This is a RAK property with limited public transaction transparency. Buyers should verify the OP from the SPA, confirm the developer assignment process and fees, and the exact handover timeline.