The Project: Couture Meets Waterfront
La Mer by Elie Saab is a landmark luxury waterfront development on Al Marjan Island, Ras Al Khaimah — designed in collaboration with the iconic Elie Saab fashion house. It is the first residential collaboration of this calibre in the UAE from a global couture brand, bringing haute-couture detailing to residential architecture: bespoke interiors, resort-quality amenities, and unobstructed panoramic sea views.
The project is developed by OCTA Properties, one of the UAE's most credible mid-market luxury developers, with a clean delivery track record and RAK RERA escrow in place. Completion is targeted for Q1 2028 — seven months after the Wynn Al Marjan Island Resort opens in mid-2027.
"Elie Saab's first UAE residential project. An integrated resort casino opening next door. A government island with fixed supply. The conditions for exceptional appreciation are structurally present."
The Wynn Catalyst: Why This Island, Why Now
The Wynn Al Marjan Island Resort — a $3.9 billion integrated casino resort — will be the first licensed gaming facility in the GCC when it opens in 2027. It will sit directly adjacent to La Mer, approximately 5 minutes by road. Wynn projects 3–5 million annual visitors, transforming Al Marjan from a leisure destination into the UAE's premier hospitality and gaming corridor.
Al Marjan property values have already appreciated 40–60% since the Wynn announcement in 2022. La Mer units are priced before the full Wynn premium is recognised by the market — meaning buyers today are entering at a construction-phase discount to the 2028 stabilised value.
The Portfolio: 11 Curated Sea-View Units
| Parameter | Detail |
|---|---|
| Total Units Available | 11 Units (10 × 1BR + 1 × 2BR) |
| Total Area | 12,584 sqft across all 11 units |
| Average Entry PSF | AED 3,825 / sqft |
| Projected Exit PSF | AED 5,100 / sqft (Q1 2028) |
| Full Portfolio Price | AED 46.68M (≈ USD 12.7M · ₹119.8 Cr) |
| All-in Acquisition Cost | AED 48.55M (incl. 4% registration + 2% agency) |
| Projected Exit Value | AED 62.25M |
| Net Appreciation | AED 13.7M · +33.3% · ≈ ₹35.2 Crore |
| Developer | OCTA Properties + Elie Saab collaboration |
| Completion | Q1 2028 (full handover) |
| Location | Al Marjan Island, Ras Al Khaimah, UAE |
| Access | 30 min Dubai International · 15 min RAK Airport |
| Wynn Resort Distance | ~5 minutes (direct road) |
Portfolio Entry Payment Plan
This is a secondary resale with the original developer payment plan intact — a rare structure that allows investors to acquire at current market pricing while benefiting from milestone-based payment scheduling rather than a full-cash transaction.
LRS Structuring for Indian Investors
The 60% upfront tranche (AED 28.0M for the full portfolio) can be structured as individual unit acquisitions for Indian NRI investors using RBI's Liberalised Remittance Scheme. Individual 1BR units are priced from AED 3.72M (≈ USD 1.01M), below the USD 250,000 LRS limit per person per year — enabling structured acquisition over 4–5 years within FEMA compliance. Our team coordinates with your CA on LRS paperwork, DTAA declarations, and ODI approvals.
Acquisition Routes: Three Structures
All 11 units. Maximum yield and appreciation. Ideal for single family office or institutional buyer. Exclusive mandate pricing.
AED 21–28M. Optimal for HNWIs building a RAK allocation without full portfolio commitment. Units selected for yield consistency.
≈ ₹9.55 Crore per unit. LRS-compatible. Golden Visa qualifying. Ideal for NRI investors entering their first Dubai/RAK allocation.
The Tax Efficiency Advantage
UAE applies 0% Capital Gains Tax on property disposals. Rental income from residential property is untaxed in the UAE. For Indian investors, the India–UAE DTAA ensures capital gains are situs-taxable only in UAE (0%), and rental income is assessable in UAE at 0%. On the projected AED 13.7M capital gain from this portfolio, the CGT saving versus an equivalent Indian real estate exit exceeds ₹5.7 Crore (at 20% LTCG + surcharge).
AED 2M minimum mandate for individual unit acquisition. Full portfolio enquiries handled directly and confidentially by Vinod Krishna Murthy, Managing Director, Evara Properties. Complete Investment Memorandum available to qualified investors on request.