Ras Al Khaimah is emerging as one of the fastest-growing real estate markets in the UAE, supported by significant developments and strategic urban planning.
The emirate has recorded strong growth in real estate sales and prices over the past three years. Population projections indicate an increase from 0.4 million to 0.65 million by 2030, driving demand for approximately 45,000 new housing units. This growth is underpinned by a diversified economy and investor-friendly regulations.
Major global and local developers, including Emaar, Aldar, Ellington Properties, Marjan, Al Hamra, and RAK Properties, are actively contributing to the sector’s expansion.
Key projects and developments
Al Marjan Island, led by CEO Eng. Abdulla Al Abdooli, is central to Ras Al Khaimah’s transformation. The island hosts several luxury hotels such as Wynn, JW Marriott, Nobu, Missoni, and The Address. Marjan is also developing “RAK Central,” a mixed-use district expected to become one of the largest commercial hubs in the Northern Emirates, featuring Grade-A office spaces and green building practices aligned with Ras Al Khaimah Vision 2030.
Al Hamra Real Estate Development, led by CEO Benoy Kurien, manages “Al Hamra Village,” with over 4,000 residential units and a golf course. The company is behind other projects including Waldorf Astoria Residences, Falcon Island, Al Hamra Waterfront, and Manar Mall.
On the coastline, RAK Properties, chaired by Abdulaziz Abdullah Al Zaabi, is developing “Mina,” which includes award-winning resorts like Anantara Mina Ras Al Khaimah and InterContinental Ras Al Khaimah. Upcoming projects include Nikki Beach, Staybridge Suites, and a planned Four Seasons Hotel.
Abdulaziz Abdullah Al Zaabi said, “The vision of Ras Al Khaimah is now becoming a reality. We are creating a vibrant and sustainable environment that attracts global investment while preserving the unique culture and natural heritage of our Emirate.”
Sameh Muhtadi, CEO of RAK Properties, added that Ras Al Khaimah is gaining unprecedented global attention due to recent efforts and expressed confidence in sustained growth.
Infrastructure and tourism
Ras Al Khaimah’s growth is supported by strong infrastructure, including eight hospitals and a modern education system regulated by the Department of Knowledge. The emirate is also known for safety, enhancing its appeal for residents and investors.
Tourism plays a key role, with 1.28 million visitors in 2024. Attractions include Jais Flight, the world’s longest zipline, Bear Grylls Explorers Camp, and the “1484 by Puro” restaurant, the UAE’s highest-elevation dining spot.
RAK Hospitality Holding, led by CEO Alison Grinnell, continues to strengthen the tourism and hospitality sectors through strategic hotel acquisitions and innovative services.
Outlook and vision
Industry experts describe Ras Al Khaimah as a fast-growing market, attracting investors with beachfront apartments, luxury villas, golf communities, and lifestyle hubs. The emirate’s Vision 2030 guides its development, focusing on sustainability and quality of life.
With increasing interest from global developers, investors, and residents, Ras Al Khaimah aims to become a leading smart city and vibrant community in the region.
tanvir@dubainewsweek.com
