Tag Archives: USD500million

ELEVATE and Ennismore signed an agreement to introduce the region’s first-ever beachfront Mondrian residences in the UAE. The landmark $500 million project will be situated on the rapidly growing Al Marjan Island, marking a pivotal moment in the evolution of branded living experiences on the island and in the region. The grand opening is anticipated to be in Q4 2028. This partnership unites the strengths of two globally respected leaders, collaborating to champion bold design, authentic community experiences, and purposeful living. ELEVATE is setting new benchmarks for intentional and design-forward living, rooted in the UAE with a deep understanding of the region’s evolving cultural and lifestyle ambitions. It offers the perfect counterpart: local insight, real estate expertise, and a vision for redefining modern luxury. Ennismore is a powerhouse in luxury lifestyle hospitality, comprising a collective of 16 globally celebrated brands and two F&B groups—including Delano, SLS, 25hours Hotels, SO/, and Rikas—as well as over 500 restaurants and bars. Together, the two are set to create transformative destinations that resonate far beyond the traditional hospitality model. Commenting on the signing, Arch. Abdulla Al Abdouli, CEO of Marjan said: “We are delighted to welcome the Mondrian Residences to Al Marjan Island as part of our ongoing commitment to elevating Marjan’s global stature, which is increasingly being famed as a lifestyle-led development. This collaboration between ELEVATE and Ennismore adds a new layer of depth and creativity to our growing portfolio of branded residences on the island. We are proud to welcome Mondrian Beach Residences to Al Marjan Island, which is slated to mark a global expansion for the hospitality giant, showcasing the draw and relevance of Marjan today”. With this landmark project, ELEVATE …

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