Ras Al Khaimah real estate ‘no longer an emerging player' as transactions up 25,000% since 2017
The real estate market in Ras Al Khaimah has witnessed unprecedented growth, with transaction volumes skyrocketing by nearly 25,000 per cent over the past seven years, according to the latest data from the Ras Al Khaimah Statistics Centre.
The total value of real estate transactions in June 2024 reached AED2,535,067,291 ($2.535bn) an exponential leap from just AED10,113,300 ($2.8m) in June 2017.
Similarly, mortgage values have soared, recording AED3,475,928,534 ($946.5m) in July 2024, compared to AED15,836,398 ($4.3m) in July 2017—an unprecedented increase of approximately 21,849 per cent.
Ras Al Khaimah real estate
This surge underscores the growing investor confidence and the emirate's rising prominence as a real estate powerhouse.
Andrei Charapenak, CEO of Major Developers, said: 'Ras Al Khaimah is no longer an emerging player—it has cemented itself as a prime investment destination.
'The staggering increase in real estate transactions and mortgage values reflects the emirate's economic momentum, fuelled by visionary leadership, strategic infrastructure developments, and a strong appetite for premium residential and commercial spaces.
'We are seeing a paradigm shift in investor sentiment—luxury, sustainability, and lifestyle integration are driving purchasing decisions'.
The surge in transactions comes at a time when Ras Al Khaimah is attracting heightened interest due to its strategic initiatives, including the expansion of Ras Al Khaimah International Airport, hospitality and entertainment investments, and a strong push toward sustainable urban development.
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