Oystra Phase 2: Al Marjan Island's Emerging Waterfront Address
Richmind and the Project
Oystra Phase 2 is a residential apartment development by Richmind, located on Al Marjan Island in Ras Al Khaimah. This is the second phase of the Oystra development, which tells you something useful: Richmind has already committed to this location and is continuing to build on it. Buyers entering Phase 2 can look at what Phase 1 established on the ground.
Richmind is working in one of the UAE's most talked-about growth corridors right now. That context matters when you're assessing where this project sits in the market.
Al Marjan Island: What the Location Actually Means
Al Marjan Island is a man-made archipelago off the Ras Al Khaimah coastline. It is not a city-centre location. That is the point. The island is designed around low-density living, water frontage, and leisure. If you are coming from Dubai, you are looking at roughly an hour's drive, depending on where you start.
For end users, daily life here is quieter and more resort-like than anything you'd find in Dubai or Abu Dhabi. Residents trade urban density for open space, cleaner air, and direct access to the water. Schools, hospitals, and major retail are in central Ras Al Khaimah, which is accessible but not around the corner.
For investors, the picture is different. Al Marjan Island is the site of Wynn Al Marjan Island, the UAE's first licensed casino resort, currently under development nearby. That single fact has driven significant speculative and long-term investment interest across the island. Rental demand is expected to grow as the hospitality and entertainment ecosystem around it matures. Oystra Phase 2 sits within that broader investment thesis.
Apartments Across the Range
The project offers apartments only. That keeps the buyer pool focused. You are looking at individuals, couples, or small families who want a lock-up-and-leave or a rental-generating unit on the island.
The apartment format suits both the end-user who wants a holiday or retirement base and the investor who wants a clean, manageable asset in a high-interest location. There is no villa or townhouse inventory here, so buyers looking for larger family homes with private outdoor space will need to look at other projects on the island.
What the Amenity Set Says About This Project
| Theme | Amenities |
|---|---|
| Fitness and Wellness | Indoor Swimming Pool, Gymnasium |
| Outdoor and Leisure | Landscaped Gardens, Children's Play Area |
| Dining | Restaurants |
| Security | CCTV Security |
The indoor pool is worth a mention. Most mid-range residential projects in RAK offer outdoor pools, which are seasonal in practice. An indoor option means year-round use, which matters if you are targeting long-stay tenants or positioning the unit for short-term rental.
The inclusion of on-site restaurants pushes this beyond a standard residential offering. Combined with the leisure amenities, the project is clearly targeting residents who want a self-contained lifestyle, whether that's a retiree, a remote worker, or a short-term rental guest. The children's play area broadens that to young families without making the project feel like a theme park.
The Timeline for Off-Plan Buyers
Construction started in April 2026, with completion expected in January 2029. That gives you roughly two and a half years from groundbreaking to handover. For a buyer entering now, that is a meaningful off-plan window.
The upside is time for capital appreciation, particularly if the Wynn resort and surrounding infrastructure continue to progress on schedule. The trade-off is that your capital is committed for that period with no rental income until handover. Buyers who need yield from day one should factor that in.
Two and a half years is a standard construction timeline for a project of this type. It is not unusually long, but it is not a short hold either. Plan your finances around a January 2029 entry to the market.