Who Are Richmind?
Richmind is the real estate development arm of Richmind Holding, a diversified conglomerate with operations across the UK, Germany, China and the UAE. The company describes itself as a premium developer specialising in ultra-niche real estate products — a deliberate positioning that reflects their strategy of doing fewer things at an exceptionally high level, rather than chasing volume.
Their entry into the UAE market is deliberate and well-timed. Richmind Holding has had a global presence for years, but chose 2025 to make its first UAE real estate move — selecting Al Marjan Island specifically because of its combination of rapid growth trajectory, world-class hospitality infrastructure, the Wynn Resort catalyst, and an underserved appetite for truly exceptional architectural product.
When Zaha Hadid Architects choose Al Marjan Island, it says something that no amount of developer marketing can replicate.
Oystra — The Project
Oystra occupies 128,000 square metres on Al Marjan Island, directly adjacent to Wynn Al Marjan Island. The development consists of four sculptural towers connected by a large suspended structure — the centrepiece of which is a 40-metre curved steel lattice beam that links two of the towers, an engineering feat designed specifically to preserve the purity of Zaha Hadid's architectural vision.
The design concept is shaped by the dynamics of sea and sky — fluid, organic curves and cornerless structures that feel more like sculpture than real estate. Nothing else on Al Marjan Island looks like this. Nothing else in RAK looks like this.
Oystra — Key Facts
Oystra will offer over 850 residences spanning one to four-bedroom apartments, duplexes, penthouses, and sea-facing villas. At the very top, ultra-luxury Phase II penthouses are expected to list at around AED 75 million — which, if achieved, will set a new pricing benchmark on the island.
The amenities match the architectural ambition. Oystra will feature RAK's first and only 360-degree infinity pool at the tower summit, a world-class beach club and spa centred around a 150-metre crystal lagoon, a signature dining destination, yoga pavilions, paddle courts, golf simulator, landscaped gardens and a private shoreline. Interior design is by Hirsch Bedner Associates — the globally acclaimed hospitality interior design firm behind some of the world's finest hotel interiors. Landscaping is by Cracknell. This is not a developer cutting corners on the supporting team.
Phase 1 Sold Out — Phase 2 Now Live
The most telling indicator of Oystra's market reception is simple: Phase 1 sold out entirely before ground was broken. Groundbreaking took place in January 2026, at which point Phase 2 officially launched.
The buyer profile for Phase 1 is particularly interesting. Over 50% of buyers came from Europe, with significant additional interest from the US, Canada, China, Australia and Turkey. This is not a project sold primarily to UAE residents — it is a project that found its audience internationally, which tells you something important about how Al Marjan Island is now perceived beyond the Gulf.
The Phase 2 launch event was held at Ain Dubai, with a guest list of investors, dignitaries, and industry elites — the kind of crowd that reflects the calibre of buyer Richmind is targeting.
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Who Should Buy Richmind / Oystra?
Oystra is unambiguously a product for the upper end of the market. With prices starting from AED 2.9 million and penthouses targeting AED 75 million, this is not an entry-level RAK investment. The target buyer is a European or international investor who understands and values architectural quality, wants a globally recognisable asset, and is comfortable with a 2029 handover timeline.
The investment case rests on several pillars — the scarcity of genuinely iconic architecture in RAK, the direct adjacency to Wynn Al Marjan Island, the Phase 1 sellout velocity, and the European-dominated buyer profile which suggests strong resale and rental demand from the same international market.
The Honest Verdict
Richmind and Oystra represent something genuinely new for Ras Al Khaimah. This is not another beachfront tower with aspirational marketing — it is a project designed by one of the world's most celebrated architecture firms, backed by a global holding company, and already validated by international buyer demand before a single floor was built. The 2029 handover is the main patience test, but for those willing to hold, the combination of location, design pedigree, and RAK's rapidly maturing destination story makes Oystra one of the most compelling long-term plays on the island.