Richmind Completes Oystra Phase 1 Sell-Out, Unveils Phase 2 Amid Surging Global Demand

  • Feb 02, 2026

Richmind, a leading ultra-luxury real estate developer and flagship vertical of Richmind Holding, has officially announced the full sell-out of Phase 1 of Oystra, its landmark waterfront development on Al Marjan Island. Building on overwhelming investor interest, the developer has now launched Phase 2, which is open for sales.

Designed by the globally acclaimed Zaha Hadid Architects (ZHA)—their first residential project on Al Marjan Island—Oystra has attracted strong international demand. Buyer data from Phase 1 shows that more than half of purchasers originated from Europe, highlighting the project’s global appeal. Additional demand was recorded from investors in the USA, Canada, China, Australia, and Turkey. As part of Phase 2, Richmind has previewed a limited collection of ultra-luxury penthouses, expected to be priced at approximately AED 75 million, setting a new benchmark for exclusivity and value on the island.

To mark the launch of Phase 2, Richmind hosted an exclusive evening event on January 27 at Ain Dubai. The celebration featured a headline performance by internationally renowned DJ Shimza, delivering a curated experience for an elite gathering of investors, dignitaries, and industry leaders—reflecting the bold and artistic identity of the Oystra development.

Commenting on the milestone, Mohammad Rafiee, CEO of Richmind, said:

“The complete sell-out of Phase 1 reinforces our vision of merging art, architecture, and refined living. Oystra has deeply resonated with international buyers, particularly from Europe, who appreciate the harmony between Zaha Hadid’s iconic design language and functional luxury within a fast-emerging lifestyle destination like Al Marjan Island. Phase 2 will introduce even greater exclusivity, limited-edition residences, and premium offerings that redefine coastal living in the UAE. Global interest in UAE real estate continues to grow, and we are strategically expanding to meet this demand.”

In response to rising international interest, Richmind has strengthened its global footprint with the recent opening of a sales office in Shanghai, catering to Far Eastern investors. The developer will also host a series of European roadshows in February, including events in Manchester and Hamburg, alongside an exclusive showcase at Harrods, London.

Oystra offers residents access to over 50 world-class amenities, including a 150-metre crystal lagoon, a branded European luxury spa, yoga pavilions, and a cutting-edge golf simulator. Richmind has also confirmed an upcoming partnership with a luxury hospitality brand, which will introduce serviced residences and curated fine-dining experiences within the community.

A standout feature of the project is Ras Al Khaimah’s first-ever 360° infinity pool, offering panoramic views across Al Marjan Island. Residents will also enjoy access to a renowned beach club and a 24/7 five-star concierge service, delivering a resort-style living experience.

Christos Passas, Director of Design at Zaha Hadid Architects, added: “Phase 2 continues Oystra’s story of fluidity and movement. The architecture responds to the sea, light, and wind, creating a dynamic yet serene living environment. The global response to the design affirms that innovation and beauty transcend borders, and we look forward to bringing this next phase to life.”

During the event, Richmind also honored its top-performing broker partners, recognizing their contributions to the success of Phase 1.

With construction progressing toward a 2029 handover, Oystra remains a defining example of Richmind’s commitment to design-led luxury living that enhances the UAE’s coastline while delivering long-term value. With operations spanning the UK, Germany, China, and the UAE, Richmind Holding continues to position itself for sustained international growth.

Source: Zawya