Gianfranco Ferré Residences by Mira Developments on Al Marjan Island
Quick Information
Detail | Information |
|---|---|
Developer | Mira Developments, with Gianfranco Ferré Home |
Location | Al Marjan Island, Ras Al Khaimah |
Property type | Fully furnished studios, 1 and 2-bedroom apartments, 2 to 4-bedroom duplexes |
Starting price | From around AED 1.6 million |
Payment plan | 50/50 with three years post-handover, or 60/40 on studios |
Handover | Q1 2028 |
Building height | Nine storeys |
Total residences | Around 160 |
Ownership | Freehold, open to all nationalities |
Gianfranco Ferré Residences is a branded beachfront project by Mira Developments on Al Marjan Island, the coral-shaped island off the coast of Ras Al Khaimah. Every home is delivered fully furnished with interiors by Gianfranco Ferré Home, the Italian fashion house's furnishing arm, and the building sits at the tip of the island with direct water access and Arabian Gulf views.
The timing of this project is what makes it interesting. It hands over in Q1 2028, a few months after Wynn Al Marjan Island, the region's first casino resort, is due to open in September 2027 on the same island. That single development has reshaped the investment case for Al Marjan, and Gianfranco Ferré Residences is positioned about five minutes from it, with a branded, furnished product aimed squarely at the short-let and luxury rental demand the resort is expected to generate.
Project Overview
Attribute | Details |
|---|---|
Project name | Gianfranco Ferré Residences |
Developer | Mira Developments |
Interior brand partner | Gianfranco Ferré Home |
Location | Al Marjan Island, Ras Al Khaimah, UAE |
Status | Off-plan, under construction |
Building | Nine-storey, U-shaped design with direct beach access |
Total residences | Around 160 |
Unit types | Studios, 1 and 2-bedroom apartments, 2 to 4-bedroom duplexes |
Smallest unit | From about 42 sq m (roughly 443 sq ft) |
Furnishing | Fully furnished with Italian-made furniture and premium appliances |
Construction start | March 2025 |
Handover | Q1 2028 |
At around 160 homes across nine storeys, this is a boutique building rather than a tower. The U-shaped layout opens toward the water, which maximises the number of units with a sea outlook and creates a sheltered central space for the pool deck and landscaping at podium level.
Location and Connectivity
Al Marjan Island is a man-made archipelago extending about 4.5 km into the Arabian Gulf, made up of four coral-shaped islands connected to the Ras Al Khaimah mainland. Gianfranco Ferré Residences sits toward the tip of the island, which means water on multiple sides and a short walk to sandy beach.
Destination | Approximate drive time |
|---|---|
Beach and water access | Direct, on site |
Wynn Al Marjan Island | About 5 minutes |
Al Hamra Mall | About 8 minutes |
Al Hamra Village and golf club | Short drive |
Ras Al Khaimah International Airport | About 40 minutes |
Dubai | About 60 minutes |
Drive times are approximate and depend on traffic and route. The island itself is home to several established resorts, including Rixos Bab Al Bahr, Mövenpick Resort and DoubleTree by Hilton, so the surrounding hospitality infrastructure already exists rather than arriving with the new developments.
What is around the island
Al Marjan sits close to Al Hamra Village, a mature community with a golf course, marina, retail and schools, and Mina Al Arab, another established waterfront community. That proximity matters for residents, since it means daily needs, schooling and healthcare are available nearby without relying on the island itself to provide everything. Ras Al Khaimah city centre is a straightforward drive, and the emirate's mountain and desert attractions, including Jebel Jais, are within reach for weekends.
Property Types, Layouts and Sizes
The unit mix moves from compact studios suited to short-let investment up to large duplexes that function as full family homes. The duplex formats, spanning two floors with internal staircases, are the more distinctive product here and are rare on Al Marjan Island.
Home type | Approximate size | Price guide |
|---|---|---|
Studio | About 443 sq ft (42 sq m) | From around AED 1.6 million |
1-bedroom apartment | About 917 sq ft | From around AED 2.3 to 2.4 million |
2-bedroom duplex | About 1,276 sq ft | From around AED 3.8 to 4 million |
3-bedroom duplex | About 2,371 sq ft | From around AED 7.3 million |
4-bedroom duplex | About 5,157 sq ft | On request |
Listings show some variation in both sizes and starting prices depending on the source and release, so treat the table as a guide and ask the sales team for the current price list and floor plans for a specific unit. Select residences include private terrace pools, which is the upgrade most buyers ask about first.
What fully furnished means here
Branded residences vary widely in what is actually included. At Gianfranco Ferré Residences, homes are delivered with Italian-made furniture from Gianfranco Ferré Home and premium appliances, so the apartment is ready to occupy or list for rent from handover. For an investor, that removes a fit-out cost that would typically run into six figures on a unit of this calibre, and it keeps the interiors consistent across the building, which matters for a short-let operation where guests expect a uniform standard.
Payment Plan and Purchase Details
Mira offers a post-handover structure on the apartments and duplexes, with a shorter alternative on studios.
Residences: 50/50 with three years post-handover
Payment stage | Percentage |
|---|---|
On booking | 10% |
After 30 days | 10% |
After 6 months | 10% |
After 12 months | 10% |
After 15 months | 5% |
On completion | 5% |
Post-handover, over three years | 50% |
Studios have been offered on a 60/40 structure instead, with 10% on booking, 40% during construction and 50% at handover, depending on the release. Payment terms differ between unit types and sales phases, so confirm which plan applies to the unit you are considering.
The post-handover element is the important part. Paying half the price across three years after taking possession means an investor can lease or short-let the property while the remaining instalments run, using income to offset the payments. Ras Al Khaimah allows freehold ownership for all nationalities on Al Marjan Island, and buyers should budget for RAK registration and transfer fees separately from the payment plan.
Amenities and Lifestyle
The amenity programme is built around hotel-style service rather than a long list of facilities, which fits a branded residence with fewer than 200 homes.
Pools and wellness
Rooftop pools, with separate areas for men and women
Family pool with a children's zone
Private terrace pools in select residences
Technogym fitness facilities, with gender-separated areas
Spa, sauna and yoga spaces
Dining and social
Two five-star restaurants on site
Lobby cafe and ground-floor retail
Residents' lounge and rooftop lounge
Private cinema and co-working spaces
Barbecue areas and landscaped gardens
Beach and outdoor
Direct access to sandy beach
Private beach cabanas
Water sports access
Pool decks and sun terraces
Children's play areas
Services
24-hour concierge and valet parking
24-hour housekeeping
On-site security
The service package is what distinguishes this from a standard apartment purchase. Round-the-clock housekeeping and concierge turn the building into something closer to a serviced residence, which supports both owner-occupiers who use the home seasonally and investors running short-term lets.
Design and the Gianfranco Ferré Partnership
Gianfranco Ferré is one of Italy's established fashion houses, and Gianfranco Ferré Home is its interiors and furnishing arm. The brand describes its approach as blending contemporary design with a timeless edge, and in this project that translates into restrained, tailored interiors rather than heavy ornamentation, using Italian-made furniture throughout.
Architecturally, the building leans on Italian design language and a U-shaped plan that frames the sea. The nine-storey height keeps the scale low against the water, and terraces are generous enough to function as outdoor rooms rather than token balconies. For buyers, the practical benefit of a branded interior partnership is consistency: the finish level and furnishing standard are specified upfront rather than left to individual owners, which protects the building's presentation over time.
Investment Perspective
Ras Al Khaimah has become one of the UAE's most closely watched property markets, and Al Marjan Island is at the centre of that attention. The main driver is Wynn Al Marjan Island, a resort with a confirmed opening set for September 2027, which will be the first casino resort in the UAE and is expected to significantly increase visitor numbers to the emirate.
Timing: Handover in Q1 2028 places the project just after the Wynn opening, so owners enter a market where the demand driver is already operating rather than still under construction.
Furnished and serviced: Fully furnished homes with housekeeping and concierge suit short-term letting, which is the segment most likely to benefit from resort-driven tourism.
Post-handover terms: Paying 50% across three years after handover means rental income can contribute to the remaining balance.
Scarcity: Around 160 branded residences on a beachfront plot is limited supply in a market that is adding a lot of new stock.
Yield expectations: Some listings project rental yields in the 6% to 8% range for waterfront units on the island. These are agent estimates rather than verified figures, and actual returns will depend on how much supply arrives by 2028.
Golden Visa: The UAE's 10-year property investor Golden Visa requires property worth AED 2 million or more, so apartments and duplexes above that threshold qualify, while entry-level studios do not on their own.
The main risk to weigh is supply. Al Marjan Island has seen a wave of branded and luxury launches since the Wynn announcement, much of it handing over between 2027 and 2029. Strong tourism growth can absorb a lot of that, but buyers should be realistic about competition rather than assuming the casino guarantees returns. This is general market context, not financial advice.
About Mira Developments
Mira Developments is a Dubai-based developer established in 2023 that has built its identity entirely around branded residences. Rather than developing under its own name alone, the company partners with luxury fashion and lifestyle houses to deliver fully furnished, move-in-ready homes, and it has assembled an unusually deep list of those partnerships in a short period.
Its brand collaborations include Bentley Home, Trussardi Casa, ELIE SAAB Maison, Gianfranco Ferré Home, Jacob & Co. Haute Living, ETRO Home and the Luxury Living Group, across around ten partnerships in total. Its portfolio covers roughly 2,215 residential units and about 473,300 sq m of living space, with a team of more than a thousand people, and it presents at international property events including MIPIM in Cannes and EXPO REAL in Munich.
Notable projects include Mira Villas designed by Bentley Home in Dubai's District 11, Trussardi Residences Phases I and II, the John Richmond District in Al Furjan, POST Hotel & Residences by ELIE SAAB in Andermatt, Switzerland, Mira Coral Bay in Ras Al Khaimah and Mira Hills in Abu Dhabi. The company also develops in Georgia, giving it an operating footprint across the UAE and Europe.
For buyers, the relevant point is that Mira is a young company delivering at scale and pace. Its branded partnerships bring a level of design accountability that a purely in-house product would not, since the fashion house's name is attached to the finished interiors. At the same time, a 2023 founding date means its completion track record is still being built, with several projects scheduled for handover between 2026 and 2029. Visiting a completed or near-complete Mira project and confirming escrow arrangements before committing is sensible practice on any off-plan purchase of this size.
About Al Marjan Island
Al Marjan Island is a man-made archipelago off the coast of Ras Al Khaimah, built as four coral-shaped islands reaching into the Arabian Gulf. It was developed as the emirate's flagship waterfront destination, mixing resorts, residential buildings, retail and public beach, and it has become the focal point of Ras Al Khaimah's tourism and property growth.
The island already has an established hospitality base, with resorts including Rixos Bab Al Bahr, Mövenpick Resort Al Marjan Island and DoubleTree by Hilton operating there, alongside beach clubs, restaurants and marina facilities. Neighbouring communities such as Al Hamra Village, with its golf course and marina, and Mina Al Arab add schools, retail and healthcare within a short drive, so residents are not dependent on the island alone.
What transformed the island's profile was the Wynn Al Marjan Island announcement. The resort, confirmed to open in September 2027, will house the UAE's first casino and represents an investment in the region of several billion dollars. Since that announcement, developers have launched a steady stream of branded and luxury projects on and around the island, and land values have risen accordingly.
For residents, Al Marjan offers beachfront living at prices below comparable Dubai waterfront addresses, with Dubai itself about an hour away by car. For investors, the appeal is the combination of tourism-driven short-let demand, freehold ownership for all nationalities, and an emirate actively investing in tourism infrastructure. The counterweight is the volume of new supply arriving over the same period, which makes unit quality, brand and location within the island more important than they would be in a supply-constrained market.