Ras Al Khaimah (RAK) is rapidly evolving into one of the UAE’s most dynamic real estate markets, with its residential stock expected to double by 2030, according to a recent report by global property consultancy Savills.
The emirate is projected to add over 11,000 new residential units by the end of the decade, based on development activity through 2024. This surge in supply is largely being driven by a booming tourism sector, ambitious infrastructure growth, and high-profile projects like the Wynn Al Marjan Island resort.
A Hotspot for Off-Plan Sales and Branded Residences
So far in 2024, off-plan sales have taken center stage, with areas such as Al Marjan Island, Mina Al Arab, and Al Hamra witnessing robust increases in both capital values and rental rates.
Al Marjan Island, in particular, has emerged as a magnet for branded residences, which now make up 32% of its upcoming supply. This reflects a growing demand for lifestyle-centric, premium real estate that blends hospitality with residential living.
Andrew Cummings, Head of Residential Agency at Savills Middle East, noted:
“Investors are clearly drawn to branded residences that offer a turnkey lifestyle and strong potential for capital appreciation.”
Record-Breaking Sales in 2024
In a sign of just how hot the RAK market has become, Sunshine Bay on Al Marjan Island sold out all 240 units in just three months, with average prices reaching AED 2,200 per square foot. Total transaction values across the emirate have surpassed AED 11 billion in 2024.
British buyers led the way, representing over 40% of total transactions, alongside investors from a total of 37 different nationalities, further signaling RAK’s emergence on the global investment map.
Tourism Surge Fuels Real Estate Boom
The momentum in property is closely tied to tourism. In 2024, RAK welcomed 1.28 million visitors, marking a 5.1% increase year-on-year. Air arrivals alone jumped 28%, signaling the emirate’s growing appeal as a weekend and holiday destination.
The upcoming Wynn Al Marjan Island, slated to open in 2027, is expected to supercharge the emirate’s growth. The 62-hectare mega-resort will include 1,542 rooms and introduce the UAE’s first commercial gaming venue, a move that could significantly boost tourism and investment alike.
RAK: More Than Just a Holiday Destination
RAK’s transformation extends beyond its tourism appeal. As Rachael Kennerley, Head of Research at Savills Middle East, explains:
“RAK is quickly becoming a long-term residential and investment destination, thanks to improvements in infrastructure, education, and quality of life.”
The number of schools rated ‘good’ jumped from three to seven in the 2023–2024 academic year, with British School Al Hamra earning a ‘very good’ rating — the first for any Northern Emirates school. The growing variety of international dining and lifestyle amenities is also contributing to the emirate’s rising liveability.
What’s Next?
Looking ahead, Savills is set to launch the Anantara Mina Ras Al Khaimah Residences in April 2025. The project will offer 84 luxury units, starting at AED 2.2 million, with handover expected in Q3 2028.
As infrastructure continues to align with tourism and residential demand, Ras Al Khaimah is quickly becoming one of the most exciting investment frontiers in the UAE real estate landscape.
