The Luxe Developers has confirmed that its AED1.5 billion flagship project, Oceano, has officially sold out – marking a major milestone for both the company and the ultra-luxury real estate sector in Ras Al Khaimah.
Located on the increasingly sought-after Al Marjan Island, the twin-tower development has attracted significant attention from ultra-high-net-worth individuals (UHNWIs) across the globe. The sold-out status of Oceano underscores the growing international appetite for luxury living outside of the UAE’s traditional hotspots.
The announcement comes on the heels of a record-breaking transaction within the development: the sale of The Celest and The Stellar, two opulent Sky Villas that jointly fetched AED180 million – the highest-value residential sale ever recorded in Ras Al Khaimah. Together, the villas span more than 43,000 square feet and represent a new benchmark for space and design in the emirate.
“Oceano’s sell-out reflects a seismic shift in how international investors view Ras Al Khaimah,” said Shubam Aggarwal, Chairman and Co-owner of The Luxe Developers. “This project demonstrates that discerning buyers are seeking privacy, exclusivity, and top-tier design – and are increasingly finding it outside the typical urban centres.”
Oceano, due for completion in 2026, features a wide range of bespoke amenities tailored to a high-end clientele. These include a cigar lounge, library, business lounge, and a chauffeur’s lounge, alongside premium retail and hospitality spaces. A private beach, children’s play area, and pool facilities also reinforce the development’s family-friendly credentials.
The project was brought to life through a collaboration with Dewan Architects + Engineers, while interiors were crafted by Hirsch Bedner Associates. A standout feature is the building’s distinctive architecture – with each floor rotated to offer sweeping views of the Arabian Gulf and complete privacy across all balconies and terraces.
Construction on Oceano is progressing rapidly, with enabling works completed and the vertical building phase now underway. China State Construction Engineering Corporation Middle East, appointed as the main contractor in October 2024, is overseeing the next stage of development.
Siddharta Banerji, Managing Director and Co-owner of The Luxe Developers, commented: “From the outset, our vision was to create a living experience that stands the test of time – architecturally, socially, and economically. Oceano has achieved that, placing Ras Al Khaimah firmly on the global map for ultra-luxury real estate.”
The successful sell-out of Oceano signals a broader trend of growth and confidence in Ras Al Khaimah’s luxury property market. With record-breaking sales and high-profile investors turning their attention to the emirate, it continues to rival the UAE’s more established markets.
For further details, visit
http://www.theluxedevelopers.ae.
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