Ras Al Khaimah's real estate sector is experiencing rapid growth, with property sales and prices rising sharply over the past three years, as demand is forecast to increase further as the emirate's population continues to expand.

Officials project the population will grow from about 400,000 to 650,000 by 2030, requiring an estimated 45,000 new residential units. The expansion is attracting major developers to the northern emirate, including Emaar, Aldar, and Ellington, alongside homegrown players such as Marjan, Al Hamra, and RAK Properties.

At the centre of the boom is Al Marjan Island, where projects under development include resorts and residences by Wynn, JW Marriott, Nobu, Missoni, and The Address. The master developer, Marjan, is also building RAK Central, a planned commercial hub that will feature premium office spaces and incorporate green building practices.

The announcement of Wynn Al Marjan, the Middle East's first integrated gaming resort, in January 2022 marked a pivotal moment for the region's real estate and tourism sectors. Since then, the market has experienced a notable surge in both new project launches and overall demand, a trend that remains robust and shows no signs of slowing.

Set to open to the public in early 2027, the multi-billion-dollar project is being built on an island of nearly 62 hectares that extends into the Arabian Gulf.

Major catalyst

The launch of the Wynn Al Marjan Island project acted as a major catalyst for property values in Ras Al Khaimah, particularly in the off-plan segment.

Following the announcement, average sales prices for new apartments offered by developers surged by about 113 per cent , more than doubling to reach Dh2,020 per square foot. According to Hunt & Harris, RAK Properties, and Al Hamra, this sharp increase stands in stark contrast to the pre-announcement average of Dh950 per square foot, highlighting the transformative impact of the resort's introduction on the local real estate market.

Villa prices also registered notable gains. The average primary sale price for villas increased to approximately Dh1,380 per square foot, representing a 29 per cent rise from the previous average of Dh1,070 before the announcement of Wynn Al Marjan Island. These significant jumps underscore the momentum and renewed investor confidence driven by the high-profile development.

Who are buying?

International buyers account for 15 to 20 per cent of leads in Ras Al Khaimah, substantially higher than the 3 to 10 per cent typically recorded in Abu Dhabi or Dubai.

This influx of both local and foreign investment highlights the emirate's emergence as a dynamic property destination. "We have seen a sharp increase in online buyer activity in Ras Al Khaimah, particularly from overseas clients," said Cherif Sleiman, chief revenue officer at Property Finder.

Ras Al Khaimah's property market opened its doors to foreign investors in the early 2000s, spurred by the introduction of new freehold property laws. Major projects, such as Al Hamra Village and Mina Al Arab, soon followed, providing expatriates and international buyers the opportunity to own a piece of the emirate for the first time.

Al Hamra Village, which initially comprised golf course buildings and three-bedroom townhouses for RAK Ceramics employees, soon expanded to include the northern region's first international golf course and yacht club. The result: a surge in property prices and investment, setting the stage for Ras Al Khaimah's transformation into a sought-after real estate destination.

From 2010 onwards, the property market's momentum accelerated as job creation in manufacturing and related industries gained momentum, particularly with the expansion of RAKEZ (Ras Al Khaimah Economic Zone) internationally. "The emirate's incentives, showcased across the globe, and its zero-tax policy proved to foreign manufacturers," said Junaid Imtiaz Qureshi, a real estate agent at Kings Real Estate.

"Exporting through RAK Ports while manufacturing in the same city offers enormous savings on logistics, making Ras Al Khaimah a uniquely attractive proposition for global investors."

Accelerating interest

Fast-forward to today, and the emirate's growth story continues.

Al Hamra is expanding its waterfront and residential communities, with projects such as Falcon Island and Waldorf Astoria Residences complementing its existing 4,000-home Al Hamra Village and retail destination Manar Mall.

Meanwhile, RAK Properties is developing Mina Al Arab, already home to resorts including Anantara and InterContinental, and preparing for new additions such as Nikki Beach, Staybridge Suites, and a Four Seasons hotel.

Industry leaders say global interest is accelerating.“We are witnessing unprecedented global interest and this momentum will only continue,” said Sameh Muhtadi, CEO of RAK Properties.

Ras Al Khaimah's real estate market has witnessed exponential growth over the past seven years, with transaction volumes increasing by nearly 250 times and values reaching Dh2.53 billion in June 2024, according to the Ras Al Khaimah Statistics Centre. This surge represents a 25,000 per cent rise in sales activity since June 2017. Mortgage values have followed a similar trajectory, reaching Dh3.48 billion in July 2024, up from Dh15.8 million in July 2017, marking an increase of approximately 21,849 per cent.

Property prices in the emirate have increased by as much as 20 per cent in the past two to three years. Industry executives attribute this to heightened demand, especially in the off-plan segment, where prices have risen 15 to 20 per cent, reflecting a widening supply-demand gap. Buyers are encouraged to enter the market early to benefit from projected future appreciation in values.

Rental trends, particularly on Al Marjan Island, underscore the region's rapid growth. Median annual rents for apartments soared from Dh40,000 in April 2023 to Dh64,800 in April 2025, a 62 per cent increase in just two years, according to Property Finder.

The pace of rent growth accelerated, with a 45 per cent jump from April 2023 to April 2024 and a further 12 per cent rise the following year. The apartment sector on Al Marjan Island stood out, with rents surging 42 per cent year-over-year from Q1 2023 to Q1 2024 and climbing another 13 percent by Q1 2025.

Robust expansion

Overall, Ras Al Khaimah's property market is being driven by robust transaction activity, sharp increases in sale and rental prices, and strong demand from investors and end-users, particularly in high-profile developments and residential hubs such as Al Marjan Island.

The real estate growth is accompanied by rising tourism, with the emirate welcoming 1.28 million visitors in 2024, drawn to attractions such as Jais Flight, Bear Grylls' Explorers Camp, and the UAE's highest-altitude restaurant, 1484 by Puro.

Authorities point to Ras Al Khaimah's infrastructure – including eight hospitals and a modern school system – and its ranking among the world's safest places as factors underpinning its livability.

As new beachfront apartments, golf communities, and lifestyle hubs come online, officials say the market will continue to expand in line with Ras Al Khaimah's 2030 vision, which emphasizes sustainable development and economic diversification.

Looking ahead, analysts predict that Ras Al Khaimah's property market is poised for unprecedented growth over the next five years. The residential property stock is expected to double by 2030, with more than 11,000 new units scheduled for completion based on launches up to the end of 2024.

Demand for premium offerings is set to rise, with branded residences now accounting for nearly a third of the anticipated supply on Al Marjan Island, a sign of growing buyer appetite for lifestyle-led, well-located investments.

This expansion is underpinned by several key factors. The emirate's population is projected to nearly double to 650,000 by 2030, creating sustained demand for new homes. The progress of landmark projects, such as the Wynn Resort, continues to attract both international and domestic interest, fuelling further increases in property values and transaction volumes. In 2024 alone, RAK welcomed 1.28 million tourists a 5.1 per cent year-on-year rise, with air arrivals surging by 28 per cent, reinforcing the emirate's emergence as a leading leisure destination.

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