Richmond Residences is a branded residential project in Mira Coral Bay, Al Mairid, Ras Al Khaimah. It combines waterfront homes, full furnishing and interiors linked to British designer John Richmond.
The project has 293 homes. Buyers can choose from studios, one to three-bedroom apartments and larger duplexes. Sizes start at about 431 sq ft and go up to around 3,587 sq ft.
The payment plan is also worth noting. Buyers pay 50% during construction and at handover. The remaining 50% is paid over three years after handover. This gives buyers more time to manage their cash flow.
Richmond Residences Location
Richmond Residences is located on the Al Mairid waterfront in Ras Al Khaimah.
The area offers views of the Arabian Gulf, with the Hajar Mountains nearby.
Key travel times include:
- 10 minutes to Downtown Ras Al Khaimah
- 20 minutes to Al Marjan Island
- 20 minutes to Al Hamra Golf Club
- 25 minutes to Ras Al Khaimah International Airport
- Around 90 minutes to Dubai, depending on traffic
Mira Coral Bay covers about 220,000 sq m of waterfront land. The wider development will include homes, hotels, restaurants, retail, beach clubs and marine facilities.
What Makes Richmond Residences Different?
The project has three main features.
It offers a waterfront location, fully furnished homes and hotel-style services.
All 293 homes are planned to come fully furnished. The package includes furniture, lighting, kitchen equipment, appliances, linens and tableware.
This can save buyers the cost and effort of furnishing a new property.
For investors, it can also make the home easier to prepare for rental. But rental demand will depend on the future market in Ras Al Khaimah.
Richmond Residences Unit Types and Sizes
The project offers several home types.
| Unit type | Approximate starting size |
|---|---|
| Studio | 431 sq ft |
| 1-bedroom | 854 sq ft |
| 2-bedroom | 1,411 sq ft |
| 3-bedroom | 1,806 sq ft |
| 2-bedroom duplex | 1,806 sq ft |
| 3-bedroom duplex | 2,560 sq ft |
There are 16 layouts across the project. Published sizes range from 431 sq ft to 3,587 sq ft.
Smaller units may suit investors who want a lower entry price.
Larger apartments and duplexes may work better for families or buyers looking for more space.
Richmond Residences Prices
Published starting prices are:
- Studio: AED 550,000
- 1-bedroom: AED 1.1 million
- 2-bedroom: AED 1.75 million
- 3-bedroom: AED 2.3 million
- 2-bedroom duplex: AED 2.5 million
- 3-bedroom duplex: AED 3.5 million
Prices can change based on the unit, floor, view and availability. Buyers should confirm the latest price before booking.
The AED 550,000 starting price gives investors a relatively low entry point for a branded waterfront project.
Still, a low purchase price does not always mean a better investment. The price per sq ft matters too.
Richmond Residences Payment Plan
Richmond Residences uses a 50/50 payment plan.
Buyers pay the first 50% during construction and at handover. The remaining 50% is paid after handover over three years.
During construction
The published schedule is:
- 10% on booking
- 10% one month after booking
- 5% at six months
- 5% at 12 months
- 5% at 18 months
- 5% at 24 months
- 5% at 30 months
- 5% at handover
This brings the total paid by handover to 50%.
After handover
The remaining 50% is spread over 36 months.
This can help buyers manage their cash flow. But it does not remove the payment obligation. You should plan for these instalments before buying.
Is Richmond Residences Fully Furnished?
Yes.
The homes are planned to include:
- Furniture
- Lighting
- Kitchen equipment
- Appliances
- Linens
- Tableware
This can reduce the money needed to furnish the property after handover.
Buyers should still check the final furniture list and specifications in the sale agreement.
Richmond Residences Amenities
Richmond Residences has its own facilities.
These include:
- Separate gym spaces
- Children’s pool
- Lobby café
- Concierge
- Butler service
- Housekeeping
- Valet parking
- In-residence dining
- 24-hour security
Residents will also have access to facilities planned across Mira Coral Bay. These include private beaches, beach clubs, a yacht club, hotels, restaurants, cafés, retail and wellness facilities.
The community will also have a contemporary art gallery and a car-free upper level.
This gives Richmond Residences a wider lifestyle offering than a typical residential building.
Mira Coral Bay Adds More Value
Richmond Residences is part of the larger Mira Coral Bay development.
The community is planned around 14 international lifestyle brands. It will include more than 800 apartments and 101 villas and townhouses, along with hotels and leisure facilities.
Brands mentioned in the project include:
- Dolce&Gabbana Casa
- Bentley Home
- ETRO Home
- Jacob & Co.
- Trussardi
John Richmond is the design partner for Richmond Residences.
For buyers, the brand mix adds to the project’s premium positioning.
For investors, the bigger question is demand.
The long-term performance will depend on tourism, rental demand, project delivery and the amount of new property entering the RAK market.
Richmond Residences and Ras Al Khaimah Tourism Growth
Ras Al Khaimah is investing heavily in tourism and hospitality.
The emirate is targeting 3.5 million visitors each year by 2030.
Another major project is Wynn Al Marjan Island.
Wynn Resorts is targeting a 2027 opening. The resort is planned to have 1,530 rooms and suites, along with 24 restaurants, lounges and bars, a beach club and retail space.
Infrastructure is also improving. A planned 548-metre bridge will connect the Wynn resort area with the wider road network through Marjan Avenue.
These developments may support future demand in Ras Al Khaimah.
They do not, however, guarantee higher property prices.
Richmond Residences Investment Potential
Richmond Residences has several points that may interest investors.
1. Lower entry price – The published starting price of AED 550,000 gives investors access to a branded waterfront development at a lower ticket than many luxury waterfront projects in Dubai.
2. Three-year post-handover payments – Half of the purchase price remains payable after handover. This gives buyers more time to spread their payments.
3. Fully furnished homes – Buyers do not need to budget separately for basic furniture and appliances.
4. Waterfront location – The project is directly linked to the Al Mairid waterfront.
5. Growing tourism sector – Wynn Al Marjan Island and other tourism projects could support demand for homes and rentals in the emirate.
There are also risks.
Ras Al Khaimah has a smaller property market than Dubai. Rental demand for new areas can be difficult to predict. More off-plan projects could also add competition.
That is why buyers should focus on the price per sq ft, payment plan, rental potential, service charges and unit location.
Is Richmond Residences a Good Investment?
Richmond Residences offers a mix of features that can appeal to buyers.
You get 293 branded waterfront residences, fully furnished homes, John Richmond interiors, a 50/50 payment plan and access to the wider Mira Coral Bay community.
The location is another important factor.
Ras Al Khaimah is growing its tourism and hospitality sector. Wynn Al Marjan Island is expected to open in 2027. The emirate also has a target of 3.5 million annual visitors by 2030.
But Richmond Residences is still an off-plan property.
Future rents, resale prices and capital growth are not guaranteed.
Before buying, compare the price per sq ft, payment schedule, service charges, expected rent and competing RAK projects.
For buyers who want a branded waterfront home and can manage the post-handover payments, Richmond Residences can be worth considering. The wider Mira Coral Bay development is also an important part of the investment case.
