RAK leads regional realty boom as one of fastest-growing markets

Ras Al Khaimah is witnessing an unprecedented boom in its real estate sector, quickly establishing itself as one of the fastest-growing property markets in the UAE, thanks to the visionary leadership of H.H. Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah.

The emirate is moving steadily toward reshaping its urban skyline while building a diversified, resilient economy. This comes as part of its ambitious strategy focused on sound urban planning, sustainability, improving quality of life for citizens and residents, and delivering world-class projects.

Over the past three years, the Emirate has recorded significant increases in real estate sales and prices, supported by landmark developments in hospitality, commercial, and residential sectors. Population growth—expected to rise from 0.4 million to 0.65 million by 2030—is projected to drive demand for around 45,000 additional housing units.

This sustained growth is built on a diversified economy, investor-friendly legislation, and the entry of major global developers such as Emaar, Aldar, and Ellington Properties, alongside local leaders like Marjan, Al Hamra, and RAK Properties.

At the heart of the transformation is Al Marjan Island, a premier coastal destination progressing rapidly under the leadership of Eng. Abdulla Al Abdooli, CEO of Marjan. The island is home to top-tier luxury hotel brands including Wynn, JW Marriott, Nobu, Missoni, and The Address.

As part of its expansion plans, Marjan is developing “RAK Central,” the Emirate’s newest mixed-use economic destination featuring a fully integrated complex for business, residential, and leisure activities. The development is expected to become one of the largest commercial districts in the Northern Emirates, offering premium Grade-A offices and incorporating green building practices aligned with Ras Al Khaimah Vision 2030.

Meanwhile, Al Hamra Real Estate Development, led by CEO Benoy Kurien, continues to raise the bar for integrated living through its flagship “Al Hamra Village,” which includes over 4,000 residential units and a golf course, supporting a vibrant community of more than 10,000 residents. The company is also behind major developments such as Waldorf Astoria Residences, Falcon Island, Al Hamra Waterfront, and “Manar Mall,” the Emirate’s largest and most iconic shopping destination.

On the coast, RAK Properties is enriching the waterfront with its landmark project “Mina,” which currently includes award-winning resorts like Anantara Mina Ras Al Khaimah and InterContinental Ras Al Khaimah. The development is also preparing to welcome upcoming projects such as Nikki Beach, Staybridge Suites, and the planned Four Seasons Hotel.

Abdulaziz Abdullah Al Zaabi, Chairman of RAK Properties, 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, confirmed that Ras Al Khaimah is receiving unprecedented global attention due to exceptional efforts over the past two years, expressing confidence in the continued momentum.

The growth of Ras Al Khaimah’s real estate sector is underpinned by robust infrastructure, including eight hospitals such as the advanced RAK Hospital, and a modern education system with private schools regulated by the Ras Al Khaimah Department of Knowledge. The Emirate also consistently ranks among the safest places in the world, reinforcing its appeal as a destination for living and stability.

Tourism is another vital pillar of the Emirate’s development. In 2024, Ras Al Khaimah set a record by welcoming 1.28 million tourists to its extraordinary attractions such as Jais Flight—the world’s longest zipline—Bear Grylls Explorers Camp, and the “1484 by Puro” restaurant, the highest-elevation dining experience in the UAE.

RAK Hospitality Holding, led by CEO Alison Grinnell, plays a key role in this sector, further integrating tourism and hospitality through strategic hotel acquisitions and innovative offerings.

Industry leaders agree that Ras Al Khaimah is one of the region’s fastest-growing markets, with beachfront apartments, luxury villas, golf communities, and lifestyle hubs continuing to attract both investors and residents. The Emirate’s 2030 Vision remains central to this evolution, with its inclusive, sustainable strategy placing people at the heart of progress.

With more developers, investors, and residents joining from across the globe, Ras Al Khaimah is positioning itself as a true benchmark for smart cities, vibrant communities, and opportunity-driven living.

WAM