Ras Al Khaimah (RAK) is rapidly becoming a key player in the hospitality and real estate markets, according to the latest RAK Investment Pulse report by Stirling Hospitality Advisors.
The Emirate is seeing impressive growth in its tourism industry, a booming hotel pipeline, and a rising interest in branded residences, signaling strong investment potential in the years to come.
Tourism in Ras Al Khaimah
Tourism in RAK has been on the rise, with 1.28 million visitors in 2024, a 5.1% increase from the previous year. This surge in visitors is expected to continue, with the Emirate on track to reach 3.5 million visitors by 2030.
In response to this growth, RAK’s hotel inventory is set to more than double by 2027, adding over 7,500 new rooms to the existing 7,144. Notably, 71% of the new rooms will be in the luxury segment, reinforcing RAK’s position as a luxury destination for high-end travellers.
The hotel sector is also experiencing a shift, with new global brands such as Wynn, Millennium, and Radisson Red entering the market.
Additionally, Accor has overtaken Hilton as the leading hotel operator in the region following strategic rebranding initiatives. These developments are expected to further elevate RAK’s hospitality landscape and attract international investors.
Wynn Al Marjan Island
One of the most significant developments in RAK’s hospitality future is the upcoming opening of the Wynn Al Marjan Island resort in 2027, which will be the region’s first fully integrated resort. Expected to attract high-net-worth individuals, this landmark project will not only increase room demand but also shift the profile of visitors to RAK, making it a prime destination for luxury travellers.
The report also highlights growing opportunities in sectors such as midscale hotels, serviced apartments, and family-friendly resorts, areas that are currently underserved in RAK’s market.
With strong government support and ambitious development plans, RAK is poised to attract both local and international investors looking to capitalize on the region’s growing hospitality and real estate sectors.
With projections indicating that the Emirate will need 8,500 more hotel rooms by 2030 to meet rising demand, RAK’s hospitality sector shows strong long-term growth potential.
The combination of robust tourism growth, an expanding hotel pipeline, and emerging investment opportunities positions Ras Al Khaimah as a dynamic and attractive destination for future developments in both hospitality and real estate.
Tatiana Veller, Managing Director of Stirling Hospitality Advisors, commented, “Ras Al Khaimah’s hospitality sector is undergoing a remarkable transformation. The combination of strong government support, ambitious development plans, and the arrival of global hotel brands and investors is setting the stage for a new era of growth.”
RAK’s real estate market
In parallel, RAK’s real estate market is expanding, particularly in the luxury sector. The report highlights the rise of branded residences, with 16 projects under development, expected to deliver approximately 5,600 units by 2029.
Major global brands such as Waldorf Astoria, Ritz-Carlton, and JW Marriott Residences are driving this growth, particularly on Al Marjan Island.
tanvir@dubainewsweek.com
