Ras Al Khaimah leads regional real estate boom as one of fastest-growing markets
RAS AL KHAIMAH (WAM) 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 His Highness 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.
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Moreover, an expected population growth from 0.4 million to 0.65 million 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 leaders 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 prioritizes environmental sustainability through cutting-edge green building practices, in line with the Emirate's 2030 Vision. For its part, developer Al Hamra, led by CEO Benoy Kurien, continues to set the standard for integrated living with Al Hamra Village's more than 4,000 homes, golf course and vibrant community of over 10,000 residents, complemented by major projects such as Waldorf Astoria Residences, Falcon Island, Al Hamra Waterfront and the Emirate's largest and most popular retail hub – Manar Mall. Further along the coast, RAK Properties is enhancing the Emirate's 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. 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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, under CEO Alison Grinnell, 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- About Ras Al Khaimah Ras Al Khaimah (RAK), the fourth largest Emirate in the UAE, is defined by its natural diversity, rich history and a forward-thinking vision, led by His Highness Sheikh Saud bin Saqr Al Qasimi. His focus on sustainable development, economic prosperity, environmental conservation, social development and innovation has shaped RAK into an ideal environment to live, work and invest. With a strategic location connecting East and West – placing one third of the world's population within four hours' flying time – RAK is a gateway to key markets, such as the UAE, Middle East, Africa, India and beyond. RAK's economy is among the most diversified in the region, with no single sector contributing more than 27% to its GDP. The Emirate offers a business-friendly environment, with simplified, customizable services, low operating costs, 100% foreign ownership, zero personal income tax and one of the world's lowest corporate tax rates. Its efficient judicial system, recognized by the World Bank, ensures fairness and transparency. RAK also boasts world-class infrastructure, including multiple seaports strategically close to the Strait of Hormuz and major international shipping lanes, an international airport and extensive logistics capabilities. RAK is home to over 50,000 companies from 100+ countries, including industry leaders and global exporters, such as RAK Ceramics and Julphar. Over 30,000 of these businesses operate within Ras Al Khaimah Economic Zone (RAKEZ), one of the region's largest free zones, while RAK Digital Assets Oasis (RAK DAO) reinforces the Emirate's ambition to become a global hub for Web3 and digital assets. RAK's economic strength is reflected by 15+ years of consistent 'A'-range Fitch and S&P credit ratings, with both agencies upgrading RAK in 2024, to 'A/A-1' by S&P and 'A+' by Fitch. RAK has a multicultural society of 0.4 million people from 150 countries and offers a high quality of life, including accessible luxury living and a serene coastal lifestyle. Significant investment in RAK's real estate, hospitality and tourism sectors in recent years is seeing signature luxury global brands, such as Wynn, Four Seasons, Nobu, Fairmont and La Mer By Elie Saab joining existing landmarks from Waldorf Astoria, Ritz-Carlton and Mövenpick. Projects such as RAK Central will redefine the commercial and residential landscape, with innovative Grade A office spaces and modern, sustainable residential areas creating a desirable location for upscale living. As a fast-growing tourism destination, RAK has become synonymous with adventure, culture and leisure. Its adventure tourism, especially at Jebel Jais, the UAE's highest peak, its stunning natural beauty, including 68km of beaches spanning the majority of a near-80km coastline, and 7,000 years of history further enhance its universal appeal. Four of RAK's archaeological sites are on UNESCO's tentative list of World Heritage Sites. With year-round sunshine, straightforward business set-up, a competitive cost of living and high quality of life, Ras Al Khaimah offers limitless opportunities, making it a destination that truly embraces potential. | Facebook | Twitter | Instagram | LinkedIn | YouTube For media enquiries: Ahmed Elsisi
