Too good to be true? Underwriting bulk deal in Al Marjan, legit or just another Dubai real estate hype?

I’ve been deep diving into Dubai real estate for a while now, and I just got introduced to something that sounds insane. I need some experienced opinions on this because I can’t tell if it’s the best opportunity of the decade or just another sales gimmick.

So here’s the pitch I got:

• Exclusive underwriting bulk deal on Al Marjan Island, Ras Al Khaimah the same place where the massive Wynn Casino (bigger than Vegas) is coming

• The developer doesn‘t sell entire floors of units (apparently i can choose the ones i want like studios only) at pre-launch prices, meaning i can get in before the public

• The last deal they did reportedly made 300% ROI within a year

I was introduced to this by a consultant named Marco Ceva Grimaldi. The guy seems to have strong connections, and the developer allegedly has ties to royalty and top hotel chains like TAJ, Nikki Beach, Armani, and Four Seasons. The argument is that Al Marjan Island is about to become the next big thing with tax free incentives, ultra luxury hotels, and the only legal casino in the region.

Now, I’ve seen my fair share of “guaranteed ROI” pitches in Dubai real estate, but this one feels different. It’s not a payment plan, there are no ridiculous mortgage structures, and they claim the developer itself will flip the units rather than leaving it to investors. Wich means the developer will leave it to their 1000+ partner companies wich is too good to be true.

I can’t ignore the fact that 1) Wynn is actually happening, 2) Ras Al Khaimah is positioning itself as a gaming & tourism hub, and 3) off market pre launch deals have made serious money in the past.

But 300% ROI? Flipping without risk? Sounds too smooth.

Has anyone actually done an underwriting bulk deal in Dubai like this? Is there a catch I’m not seeing? Would love to hear from people who have invested in similar deals.