Mira Coral Bay is a new waterfront community in Al Mairid, Ras Al Khaimah, developed by Mira Developments. Its first residential collection, Richmond Residences, offers fully furnished branded homes by John Richmond, with prices starting from AED 550,000 and handover planned for Q2 2029. The wider community is planned across about 220,000 sq. m. and includes more than 800 apartments, 101 villas and townhouses, hotels, beach clubs, a yacht club, restaurants and retail.
For investors in 2026, the key question is not whether Mira Coral Bay looks attractive. The better question is whether the purchase price can support a good rental yield and enough capital growth over the next two to four years.
The answer is positive, but it comes with clear risks. Mira Coral Bay is an off-plan project in a developing coastal area. Its return will depend on the final purchase price, rental demand at handover, service charges, tourism growth and the pace of infrastructure development.
Mira Coral Bay Pricing in 2026
| Unit type | Starting price | Starting size | Approx. price/sq. ft. |
|---|---|---|---|
| Studio | AED 550,000 | 431 sq. ft. | AED 1,276 |
| 1 bedroom | AED 1.10M | 854 sq. ft. | AED 1,288 |
| 2 bedroom | AED 1.75M | 1,411 sq. ft. | AED 1,240 |
| 2-bedroom duplex | AED 2.50M | 1,806 sq. ft. | AED 1,384 |
| 3 bedroom | AED 2.30M | 1,806 sq. ft. | AED 1,273 |
| 3-bedroom duplex | AED 3.50M | 2,560 sq. ft. | AED 1,367 |
These are current starting prices rather than guaranteed transaction prices. Availability and unit prices can change.
The entry price is important for ROI.
A studio at AED 550,000 gives investors a relatively low entry point for a furnished waterfront residence. At the other end, a three-bedroom duplex at AED 3.5 million is aimed at a very different buyer and rental market.
The project also uses a 50/50 payment structure, with 50% paid through handover and the remaining 50% spread over three years after handover. Handover is currently planned for Q2 2029.
This payment structure can improve cash-flow management, but investors should not confuse delayed payments with a higher investment return. The full purchase price still matters when calculating yield.
Current Rental Benchmarks in Ras Al Khaimah
There is no long operating history for Mira Coral Bay because the project has not yet been handed over. Therefore, investors need to use current Ras Al Khaimah rental data as a benchmark.
A Q2 2026 market estimate puts the average gross rental yield for freehold apartments and villas across Ras Al Khaimah at about 5.3%. This is an emirate-wide figure, not a guaranteed yield for Mira Coral Bay.
Al Marjan Island provides a useful waterfront comparison. Bayut’s July 2026 rental index shows average apartment rents of about AED 71 per sq. ft. per year. Its current average apartment sale price is about AED 2,569 per sq. ft.
Al Hamra Village provides another useful comparison. Its July 2026 apartment rental index is about AED 62 per sq. ft., while the average apartment sale price is around AED 1,617 per sq. ft.
These figures show why Mira Coral Bay’s entry price deserves attention. Its Richmond starting prices are generally below the current average sale price per sq. ft. reported for Al Marjan Island and below Al Marjan’s rental-market positioning. However, Mira Coral Bay is still off-plan, so the comparison is not like-for-like.
Gross Rental Yield Potential
Gross rental yield is calculated as:
Annual rent ÷ purchase price × 100
Because Mira Coral Bay has no completed rental history, a sensible 2026 approach is to use a 5.3% base-case gross yield, in line with the reported RAK freehold average.
For a studio bought at AED 550,000:
AED 550,000 × 5.3% = AED 29,150 annual rent
That gives a gross rental yield of:
5.3%
For a one-bedroom apartment bought at AED 1.10 million:
AED 1,100,000 × 5.3% = AED 58,300 annual rent
Again, the gross yield is:
5.3%
This is a benchmark calculation, not a rental guarantee.
A waterfront furnished property with beach access and hotel-style services could perform above the emirate average if demand is strong. On the other hand, if many new units enter the market at the same time, actual rent could be lower.
One recent market analysis places a reasonable base case for Richmond Residences at around 5%–6% gross rental yield, while noting that higher returns from short-term rentals should be treated as an upside case rather than a guarantee.
Net Rental Yield After Service Charges
Gross yield does not show the full investment picture.
Owners may have to pay service charges, management costs, maintenance expenses, vacancy costs and other operating expenses.
One current project source lists a service charge of about AED 18.50 per sq. ft., although investors should confirm the final approved charge before handover.
Using the 431 sq. ft. studio as an example:
431 × AED 18.50 = AED 7,974.50 per year
If the studio earns AED 29,150 in gross annual rent, the amount remaining after this service charge would be approximately:
AED 29,150 − AED 7,975 = AED 21,175
That gives an estimated yield of:
AED 21,175 ÷ AED 550,000 × 100 = 3.85%
So, under the 5.3% gross-rent assumption, the studio’s yield after the listed service charge is about 3.9%, before other costs such as vacancy, property management, utilities paid by the owner and repairs.
This is a useful warning for investors.
A project can advertise a gross yield that looks attractive, but the actual cash return can be much lower after ownership costs.
What Could Drive Capital Appreciation?
Rental income is only one part of the ROI case.
The second part is capital appreciation.
Mira Coral Bay is entering the market while Al Mairid is still developing. The community itself is planned as a major waterfront destination, while Ras Al Khaimah is investing in tourism and hospitality.
Ras Al Khaimah recorded 1.35 million overnight visitors in 2025, according to current project market information, with an emirate target of more than 3.5 million annual visitors by 2030. Wynn Al Marjan Island is also expected to open in 2027.
These factors could support property demand over the medium term.
There is also evidence of recent price growth. Current market data shows Al Hamra Village apartment prices at AED 1,617 per sq. ft., compared with AED 1,313 two years earlier. Al Marjan Island apartment prices are around AED 2,569 per sq. ft., compared with AED 2,239 two years earlier.
That does not mean Mira Coral Bay will repeat these gains.
For a more cautious 2026 investment model, a 3% to 7% annual capital growth range can be used as a scenario rather than a promise.
Two-Year Capital Growth Scenario
At 3% annual growth:
2-year growth ≈ 6.1%
At 5% annual growth:
2-year growth ≈ 10.3%
At 7% annual growth:
2-year growth ≈ 14.5%
Four-Year Capital Growth Scenario
At 3% annual growth:
4-year growth ≈ 12.6%
At 5% annual growth:
4-year growth ≈ 21.6%
At 7% annual growth:
4-year growth ≈ 31.1%
These are mathematical scenarios, not forecasts.
The 5% case would be reasonable for an investor building a medium-term plan around steady market growth. The 7% case requires stronger tourism demand, successful project delivery, good infrastructure progress and continued demand for waterfront homes.
Mira Coral Bay vs Al Marjan Island
Al Marjan Island is the strongest direct waterfront comparison.
Current apartment sale prices are around AED 2,569 per sq. ft., while rental rates are around AED 71 per sq. ft.
This gives Al Marjan a more mature price level than Richmond Residences’ starting prices of roughly AED 1,240–1,384 per sq. ft. for the listed apartment and duplex examples.
The difference gives Mira Coral Bay a potential entry-price advantage.
However, Al Marjan has a major advantage: it is already recognised as a resort destination and is directly linked to the Wynn development.
One market analysis estimates Al Marjan Island gross yields at about 9% and net yields at 7% for Q2 2026, but this is a researched market estimate rather than an official yield index, so it should not be treated as guaranteed.
Investment view: Al Marjan offers stronger market proof today. Mira Coral Bay offers earlier entry into a new waterfront destination.
Mira Coral Bay vs Al Hamra Village
Al Hamra Village is a more established mixed-use community.
Current apartment sale prices average about AED 1,617 per sq. ft., while rental rates are around AED 62 per sq. ft.
That makes Al Hamra more expensive than the starting price per sq. ft. of many Richmond Residences units.
Its advantage is stability.
Al Hamra already has established homes, retail, golf, marina facilities and a working rental market. Rental rates have also increased over the past year in several apartment categories.
Investment view: Al Hamra may suit investors who prefer an established rental market. Mira Coral Bay may suit investors who are willing to accept development risk in exchange for exposure to a new waterfront destination.
Who Is Likely to Rent at Mira Coral Bay?
Mira Coral Bay can target several tenant groups.
The first is holiday visitors. The beach, branded residences, restaurants and hotel services can make the project suitable for short stays.
The second is couples and professionals looking for furnished studios and one-bedroom homes.
The third is families, especially for two- and three-bedroom apartments.
The fourth is second-home owners who may use the property for part of the year and rent it at other times.
The furnished model is useful for investors because homes are delivered ready for occupancy. This removes the normal furnishing stage between handover and first rental.
The main question will be whether rental demand grows fast enough to absorb the new supply.
Key ROI Risks
1. Oversupply
Ras Al Khaimah has a large pipeline of new apartments and branded residences.
More supply is not automatically bad. But if many projects complete around the same period, landlords may have to compete on rent, furniture, incentives and management.
2. Infrastructure Delays
Al Mairid is still developing.
The project’s long-term value depends partly on roads, marine works, utilities, retail, hospitality and other planned facilities being delivered on time. Current information states that infrastructure works are still being developed across the district.
A delay could affect rental demand and resale activity after handover.
3. Off-Plan Completion Risk
Handover is planned for Q2 2029.
Until the property is completed, investors cannot know the exact rental rate or occupancy level. A delay would also postpone rental income.
4. Service Charges
The resort-style concept includes beaches, hospitality, security, landscaping and other services.
These facilities can support rental demand, but they also cost money.
5. Branded Residence Premium
John Richmond gives the project a clear identity, but a brand does not guarantee a higher resale price or rent.
Investors should compare the brand premium against similar non-branded waterfront homes.
Short-Term vs Long-Term Investment Verdict
For short-term investors, Mira Coral Bay is not the strongest fit in 2026.
The reason is simple: handover is not expected until Q2 2029. Investors cannot generate normal rental income during the construction period. A short-term strategy would depend mainly on resale price growth, which is harder to predict.
There is also development risk in Al Mairid.
For long-term investors, the case is stronger.
A holding period of four years or more gives the investor time to benefit from project completion, new amenities, tourism growth and the wider development of Ras Al Khaimah.
The entry price is also worth watching. A studio from AED 550,000 and a one-bedroom from AED 1.1 million provide lower entry points than the current average apartment pricing on Al Marjan Island.
The most sensible strategy is therefore to focus on unit-level ROI rather than headline project ROI.
A good purchase should have:
- A reasonable price per sq. ft.
- A strong view or location within the project
- A practical floor plan
- Manageable service charges
- Good expected rental demand
- A payment plan that fits your cash flow
- A holding period long enough to absorb market changes
Final Investor Verdict
Mira Coral Bay has a credible ROI story for 2026, but it is a growth-and-income opportunity, not a guaranteed high-yield investment.
The current entry price from AED 550,000 is attractive compared with established waterfront pricing in parts of Ras Al Khaimah. The wider project also has strong lifestyle features, including a private beach, branded beach clubs, yacht facilities, hotels and furnished branded homes.
A reasonable starting model is around 5%–6% gross rental yield, with a lower net yield after service charges and other costs. A 3%–7% annual capital appreciation scenario can be used for planning over two to four years, but actual performance may be higher or lower.
For short-term investors, the wait until 2029 and construction risk make the project less suitable. For long-term investors, Mira Coral Bay is more compelling. The combination of lower entry pricing, waterfront positioning, tourism growth and future infrastructure gives it a reasonable chance of delivering both rental income and capital growth after completion. The strongest investment is unlikely to be simply the cheapest unit. It will be the unit that offers the best balance of entry price, view, rental demand, service costs and future resale appeal.
Amoli