ELEVATE, the visionary lifestyle real estate brand, has announced a landmark transaction at the Mondrian Al Marjan Island Beach Residences. The announcement came just days after the project’s momentous ground-breaking ceremony, the development’s “Crown Jewel”, an ultra-exclusive Sky Mansion has been sold for AED 38 million / USD 10.35 Million

This record-breaking sale sets a new benchmark for ultra-luxury real estate in Ras Al Khaimah. The trophy property, which serves as the absolute pinnacle of beachfront living in the Northern Emirates, was sold within hours of its release, underscoring the voracious appetite for high-end branded residences next to the upcoming USD 5.1B Wynn Resort.

Spanning an impressive 10,000 square feet across three levels, the Sky Mansion is a masterpiece of design. It features dramatic 28-foot ceiling heights, floor-to-ceiling windows, and exclusive outdoor living spaces, including a private roof garden and a private infinity pool. The residence offers commanding, panoramic views of the ocean and the neighboring Wynn Al Marjan Island.

Zeeshaan Shah, Founder & Chairman of ELEVATE, said, “The sale of our Sky Mansion at AED 38 million is a defining moment for Mondrian Al Marjan Island Beach Residences and for Ras Al Khaimah’s luxury real estate market.With limited inventory and EOIs now officially open for Phase 2, demand continues to significantly outpace supply. Phase 1 was absorbed at record speed, and based on the traction we’re already seeing, we expect Phase 2 to follow the same trajectory. Buyers recognise that Mondrian Al Marjan Island Beach Residences is not just a residence, but a lifestyle investment in one of the UAE’s fastest-rising destinations.”

With demand surging from both international investors and end-users, the developer has released specific details on the remaining inventory types and starting prices for this highly anticipated release:

• 1 – 3 Bedroom Residences: Starting from AED 2.7 million
• 3 – 5 Bedroom Sky Collection: Starting from AED 8.8 million
• 3 – 4 Bedroom Front Row Collection: Starting from AED 9.4 million

The development is Mondrian’s first beachfront residential project in the region. Infused with a bold design DNA crafted by world-renowned architects Gensler and interior specialists Bergman Design House, the development is situated moments from the region’s fastest-growing entertainment hub.

Residents will enjoy over 60,000 sq. ft. of curated amenities, including Fi’lia by the Beach, the Residents’ Sky Club, a fully equipped fitness studio with an outdoor gym, personal training studio and recovery zone, as well as multiple swimming pools. Homeowners will also have access to Mondrian’s signature essential and on-demand services, along with an invitation to join Platinum Status within the Accor Owner Benefits Program.

Haider Ibrahim, Sales Director at ELEVATE, added, “From the very first release, buyer response has been exceptional, and the Sky Mansion sale reflects the calibre of clientele the project is attracting. Investors and end-users are drawn to the combination of beachfront positioning, branded living, and long-term upside driven by the Wynn destination next door. Phase 2 offers a rare opportunity to enter at this stage of the project, and we’re already seeing strong interest across all collections.

Sobha Realty, a leading global luxury real estate developer renowned for its commitment to exceptional quality and innovation, has announced its year-end sales figures for FY 2025 a total AED 30 billion, cementing the company’s status as one of the most influential real estate developers in the Gulf. 

Driven by a series of landmark achievements across sales performance, masterplan development, sustainability, and international expansion, the 2025 sales figures represent an uptick of 30 per cent year-on-year. The increased growth reflects sustained momentum in the UAE’s luxury real estate market and the strength of Sobha Realty’s diversified portfolio. A significant portion of this strong performance came from the company’s expanding footprint in Umm Al Quwain (UAQ), with AED 8 billion in sales from Downtown UAQ | Sobha Realty and Sobha Siniya Island.  

Together, these results underscore the outstanding market reception of Sobha Realty’s new masterplans in UAQ and reaffirm the increasing confidence of investors in the brand’s leadership and strategic development vision across the Emirates.

“Sobha Realty’s sales success in 2025 was complemented by significant development milestones. The company launched four masterplans, Sobha Solis, Downtown UAQ | Sobha Realty, Sobha Central, and Sobha SkyParks, bringing its UAE portfolio to 14 developments, comprising 12 in Dubai and two in Umm Al Quwain. Each new project is helping strengthen the company’s role in shaping the future of urban living in the UAE.”; said Sobha Group Chairman Mr. Ravi Menon.

This period of growth also saw Sobha Realty extend its reach well beyond the Gulf region, as it announced an expansion into the United States and Australia.This was supported by the establishment of regional offices and strategic land acquisitions in Texas, United States, and Queensland and Sydney, Australia. Together, these initiatives marked a pivotal milestone in the company’s evolution into a global real estate leader.

“This past year has been a defining chapter in Sobha Realty’s journey,” said Mr. Menon. “Our growth across the UAE and expansion into global markets reflect a vision that has remained constant since our inception: to create developments that stand the test of time. These achievements are a testament to the trust our customers place in us and to our unwavering commitment to excellence and craftsmanship. As we look ahead, we remain dedicated to shaping communities with projects that embody quality and integrity while grounded in Sobha’s philosophy of The Art of Detail.”

Sobha Realty’s international momentum was further bolstered by a strong financial year, underscored by the successful issuance of a US$500 million sukuk, which was oversubscribed three-fold at US$1.54 billion. Subsequently, the company launched its inaugural US$750 million Green Sukuk – the largest green sukuk ever issued by a real estate developer globally. It attracted approximately US$2.1 billion in orders and achieved 2.8 times oversubscription. Listed on both the London Stock Exchange (LSE) and NASDAQ Dubai, these issuances reinforced investor confidence in Sobha Realty’s strategic direction and financial stability.

Sobha Realty’s financial strength was further affirmed when Moody’s upgraded the Corporate Family Rating of PNC Investments LLC, its parent company, to Ba2/stable, reflecting enhanced credit metrics, supported by a strong revenue profile and substantial backlog.

Sustainability and people-centric progress remained central to Sobha Realty’s journey in 2025. During the year, Sobha One became the first building outside of Singapore to receive the Green Mark Platinum Super Low Energy certification. Additionally, the company achieved a score of 97 in the 2025 GRESB Real Estate Assessment and earned a 4-Star Rating, further reinforcing its leadership in ESG governance and low-carbon development.

This external recognition was complemented by internal advancements, including the introduction of a sector-first enhanced maternity leave policy, which offers 120 days of maternity leave while retaining all other employment benefits. This initiative underscores the company’s commitment to fostering a responsible and progressive workplace.

Sobha Realty further enhanced its global presence through strategic partnerships, including serving as a Global Partner for International Cricket Council (ICC) Men’s events, maintaining its collaboration with Arsenal FC, and continuing its association with the International Indian Film Academy (IIFA) Awards. These initiatives have significantly expanded the brand’s visibility among international audiences.

With milestones spanning development, sustainability, global expansion, and brand influence, 2025 stands as one of the most transformative years in Sobha Realty’s five-decade history. These accomplishments establish a strong foundation for continued growth both in the UAE and internationally, further reinforcing the company’s position as a global standard-bearer in luxury real estate.

Exclusive Interview with Ben Bandari, CEO, BenCo. Real Estate & Sarah Serhan, Associate Partner, BenCo. Real Estate

Ben Bandari

Ben Bandari is a powerhouse in the UAE real estate industry, having closed over AED 25 billion in sales and earned a reputation as one of the nation’s most influential and successful brokers. Since starting his real estate career in the UAE back in 2002, He has earned some of the industry’s highest honours, including Number 1 Real Estate Broker in the UAE by Arabian Business, inclusion among the Top 150 Real Estate Icons by Finance World and the prestigious Agency of the Year award by The Entrepreneur. Beyond his brokerage success, Ben is also the star and executive producer of Million Dollar Listing UAE, the hit reality series that takes viewers inside the glamorous, high-stakes world of the UAE luxury real estate.

Sarah Serhan

In the UAE’s competitive luxury real estate market, Sarah Serhan has quickly established herself as one of its most dynamic rising talents. She is a luxury real estate agent and broker as well as an area specialist for Dubai Hills Estate, combining cultural awareness with deep market knowledge.  In her first year she had closed more than AED 100 million in sales and by 2024, she was averaging AED 3 million in transactions daily. Recognised by Ben Bandari for her drive and professionalism, she joined BenCo Real Estate in early 2024 where she now serves as Associate Partner.

Questions:

Beyond luxury listings, the show focuses heavily on ambition, rivalry, and pressure. Why do you think audiences connect so strongly with that side of the story?

Ben Bandari: At its core, the show really isn’t about houses – it’s about people. While luxury listings are exciting and aspirational, it’s the universal themes of ambition, competition, pressure, and even self-doubt that truly resonated with STARZPLAY’s audiences in Season One once it aired. That strong response is exactly what paved the way for Season Two.

Audiences connect because they’re seeing the authentic side of success – the wins, the stress, the rivalries, and the emotional ups and downs that come with working in a high-pressure market like the UAE. Partnering with STARZPLAY allowed us to bring this format closer to home for MENA viewers and ground it in a reality they recognise. Viewers aren’t just watching deals close; they’re watching real people who push themselves, make mistakes, and grow, and that honesty is what makes the story relatable, and why it continues to resonate even more strongly in Season Two.

Sarah Serhan: As a newcomer to both the show and the industry, there is an undeniable pressure to prove yourself as a capable broker who can overcome challenges, obstacles and manage mental pressure. With that, you still need to balance the demands of work with time spent with family. What I believe truly resonates with the audience is the authenticity of that journey. When they see me, they see a human like everyone else, a woman with ambitions and goals, a woman with a family she must always put first, yet someone who continues to push forward, they connect on a much deeper level, probably reflecting their own struggles and aspirations.

Mr. Ben Bandari, as a returning cast member and Executive Producer, how has your role evolved in shaping the direction and authenticity of Season 2?

In Season Two, my role became much more hands-on. As Executive Producer, I was closely involved in shaping the narrative to make sure it truly reflected the realities of the UAE real estate market. The focus was on real pressure, negotiations, and consequences. I wanted viewers to see what the job actually demands. The goal was to let the stories unfold naturally and stay true to the people and the market we’re representing.

Rivalries are a big part of the show; do they sharpen your edge or complicate your strategy?

It’s genuinely a bit of both. Healthy rivalry pushes you to raise your standards and stay sharp, especially in a market as competitive as the UAE. I’ve learned to use competition as motivation while staying focused on the bigger picture, which is serving clients and closing deals. A great example of rivalry in the show is in Episodes 1 to 3, where Dr. Baydoun of Damac Properties makes Riad and I compete for a luxury property, “Villa Flora.”

You’ve been part of the franchise since its early days in the UAE—how has the real estate market changed since Season 1, and how has that changed you?

The market has matured dramatically. Buyers are more informed, expectations are higher, and transactions are far more complex. Since Season One, Dubai, Abu Dhabi and the UAE have evolved into a truly global luxury market. That evolution has forced me to grow personally as well as upgrade BenCo. to 70 plus staff and still growing. I’ve become more disciplined, more strategic, and more resilient. I’ve also setup a whole new business, Highgate Investments, which caters to investors looking at and acquiring properties, or designing and developing old, rundown ones. The business has skyrocketed with 8 ongoing projects so far.

Ms. Sarah Serhan, joining a well-established cast can be intense, what was your mindset walking into Season 2?

I was aware that my presence as a new face and a rapidly rising professional might be perceived as threatening to some of the other cast members. I anticipated questions like “who is she?” “Why is she here?” and “how did she get here?”. Frankly, I didn’t know what to expect from the others, but also, I never felt the need to prove myself to anyone. As I’ve always believed, my performance and my numbers speak for themselves.

What message do you hope ambitious professionals, especially women, take from your journey?

My core message is simple yet profoundly powerful: When you stay disciplined, rooted in self-belief, and fully committed to the work, you don’t need to prove anything. Your progress moves faster than doubt, and your results speak long before you ever have to.

What surprised you most about operating in this environment, on or off camera?

What surprised me the most was how intense the environment is, both on and off camera.  What I did not expect was how much discipline and emotional intelligence it would require to stay focused and professional while doing my job with cameras and a crew filming at all times. The mental fortitude required is truly immense, and it’s something you can only fully appreciate once you’re living it.