Ras Al Khaimah Prime Apartment Prices At Highest As RAK Central Leads Next Growth Phase

(MENAFN- Khaleej Times) Prime apartment prices in Ras Al Khaimah have reached the highest level in the current cycle, as RAK Central is set to drive the next phase of growth for the real estate and hospitality sectors in the northern emirate.

Global real estate consultancy CBRE said prime apartment sales prices reached Dh2,428 per square foot in 2025, the highest level in the current cycle, driven by strong capital appreciation across coastal destinations such as Al Marjan Island, Al Hamra and Mina Al Arab.

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Villa prices also strengthened, rising to an average of Dh1,211 per square foot, driven by robust growth within Al Hamra.

Overall market values climbed sharply, with average apartment prices increasing 32 per cent year‐on‐year and villa prices rising 11 per cent.

With Al Marjan Island anchoring Ras Al Khaimah's leisure-led identity, RAK Central is set to define its work-and-play district, a future business hub that integrates offices, residences, hospitality, and lifestyle in one connected urban core.

6,000 professionals

RAK Central, which will require billions of dirhams in investments to accommodate over 6,000 professionals and 4,000-plus residential units, is attracting a large number of new project launches.

To cash in on the growing demand for new projects, a large number of UAE developers are focusing on RAK Central and have launched many new projects.

BNW Developments is the latest developer to announce a new project there, launching the first Radisson Blu Hotel and Radisson Blu Residences in RAK Central.

'Durable investor returns'

Dr Ankur Aggarwal, chairman and founder of BNW Developments, said the project will“deliver durable investor returns.”

The developer has more than 10 strategic projects in the northern emirate.

“RAK Central is a clear statement of where Ras Al Khaimah is headed, and we help drive that momentum alongside partners of global calibre,” said Dr Vivek Anand Oberoi, managing director and co-founder, BNW Developments.

Radisson Blu Hotel, RAK Central, will comprise 361 keys within a newly built property positioned above curated retail and cinema offerings, while Radisson Blu Residences, RAK Central, will include 222 branded units.

“Entering RAK Central for the first time is an exciting step for us. We're bringing a premium hotel and residential offering that's rooted in strong operations, consistent service,” said Elie Milky, chief development officer, Middle East, NE Africa, Cyprus and Greece, Radisson Hotel Group.

Despite a year‐on‐year reduction in overall sales volume and total transaction value, primarily due to mid‐market launches in emerging districts like RAK Central, the market witnessed a strong rebound in the fourth quarter of 2025, underscoring the ongoing depth of demand, CBRE said.

The much-awaited opening of the $5.1-billion Wynn Al Marjan Island, an integrated gaming resort, is on schedule for its opening in early 2027 after topping out in the fourth quarter of 2025, strengthening the profile of the northern emirate, especially Al Marjan Island and RAK Central, as a world-class tourist destination.

The northern emirate is targeting 3.5 million tourists by 2030, requiring a large number of hospitality projects across the emirate. Therefore, RAK Central will play a key role in meeting the emirate's target of accommodating future tourist growth.

According to global real estate consultancy CBRE, Ras Al Khaimah's plan to reach 3.5 million visitors by 2030 and double its hotel keys is anchored by the strategic attraction of global brands and the addition of new master plans such as RAK Central, Marjan Beach, and the upcoming Jebel Jais master plan, in parallel with the further expansion of Mina and Al Hamra Village.

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