Staff Report
Dubai, UAE
Ras Al Khaimah (RAK) is experiencing an unprecedented real estate boom, driven by surge in property sales and prices across hospitality, commercial and residential sectors in the last three years. With Al Marjan – RAK’s quintessential lifestyle destination that will host some of the high-profile brands in the real estate and hospitality sectors – the emirate is rapidly emerging as one of the most dynamic property markets in the United Arab Emirates.
An expected population growth from 400,000 to 650,000 by 2030 is set to generate demand for an estimated 45,000 additional residential units. This sustained growth is anchored in a diversified economy, investor-friendly regulations, and the entry of global developers into the market, such as Emaar, Aldar, and Ellington, alongside local players Marjan, Al Hamra, and RAK Properties.
At the forefront of Ras Al Khaimah’s transformation is Al Marjan Island, a premier waterfront destination making strides in the sector under the leadership of CEO Eng. Abdullah Al Abdooli, and playing host to ultra-luxury brands including Wynn, JW Marriott, Nobu, Missoni, and The Address. Further expanding its offering, Marjan is developing RAK Central, a multifunctional hub that blends business, lifestyle, and innovation, and is set to become one of the Northern Emirates’ largest commercial districts. The development features premium Grade-A offices and prioritises environmental sustainability through cutting-edge green building practices, in line with the emirate’s 2030 Vision.
For its part, developer Al Hamra continues to focus on integrated living with Al Hamra Village’s more than 4,000 homes, golf course, and a community of over 10,000 residents, complemented by major projects such as Waldorf Astoria Residences, Falcon Island, Al Hamra Waterfront, and RAK’s largest and most popular retail hub – Manar Mall.
Further along the coast, RAK Properties is enhancing the shoreline with its flagship Mina development, already home to award-winning resorts, such as Anantara Mina Ras Al Khaimah and InterContinental Ras Al Khaimah. The development is gearing up to welcome upcoming additions, such as Nikki Beach, Staybridge Suites, and the planned Four Seasons.
“The vision for Ras Al Khaimah is becoming a reality,” said RAK Properties Chairman Abdulaziz Abdullah Al Zaabi. “We are creating a vibrant, sustainable environment that is attracting global investment while maintaining the unique culture and natural heritage of our Emirate.”
Meanwhile, the company’s CEO Sameh Muhtadi asserted that: “What we have seen over the past couple of years is remarkable. We are witnessing unprecedented global interest – and this momentum will only continue.”
Underpinning Ras Al Khaimah’s real estate evolution is a robust infrastructure. The emirate boasts eight hospitals, including the RAK Hospital, and a modern education system. Additionally, the emirate consistently ranks among the safest places in the world, adding to its growing livability credentials.
Tourism is another central pillar of the emirate’s advancement, setting a record in 2024 that saw Ras Al Khaimah welcome 1.28 million tourists, drawn by attractions such as Jais Flight – the world’s longest zipline – Bear Grylls Explorers Camp, and 1484 by Puro, the UAE’s highest-altitude restaurant. A leading stakeholder in the sector is RAK Hospitality Holding, which continues to drive the tourism-hospitality nexus with strategic hotel acquisitions and innovative offerings.
Ras Al Khaimah is undeniably one of the fastest-growing markets in the region, industry leaders agree, as new beachfront apartments, luxury villas, golf communities, and lifestyle hubs continue to attract investors and residents alike. At the heart of it all is Ras Al Khaimah’s 2030 Vision – a sustainable, inclusive strategy that places people at its core. With more global developers, investors, and residents joining the journey, the emirate is becoming a benchmark for smart urban growth, vibrant communities, and opportunity-driven living.
Ends
Also read: RAK’s hotel inventory to double to over 14.6k keys by 2027
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