Latest news with #RasAlKhaimahStatisticsCentre
Web Release
22-05-2025
- Business
- Web Release
Mortgage Market in Ras Al Khaimah Surges by Over 22,000%, Cementing Investor Confidence
Ras Al Khaimah's property market continues to defy expectations, with mortgage activity emerging as a clear indicator of long-term investor trust in the emirate's economic trajectory. According to the latest data released by the Ras Al Khaimah Statistics Centre, the total value of mortgages in the emirate has soared from just AED 15.8 million in July 2017 to an astonishing AED 3.47 billion in July 2024—a rise exceeding 22,000% over seven years. This extraordinary leap underscores a dramatic shift in buyer behaviour, where both local and international investors are increasingly opting for mortgage-backed acquisitions to secure their stake in the emirate's rapidly evolving real estate market. Andrei Charapenak, CEO of Major Developers, commented on this milestone: 'A surge of over 22,000% in mortgage values is not just a statistic—it's a powerful signal that Ras Al Khaimah has transitioned into a mature, finance-driven real estate market. It reflects rising investor confidence, robust demand for quality developments, and the availability of attractive financing solutions.' He continued: 'This trend shows that buyers aren't just speculating—they're committing. Whether it's for primary residences, investment properties, or vacation homes, we're seeing a growing appetite for long-term ownership, and mortgages are enabling that vision.' Major Developers, a leading force in Ras Al Khaimah's real estate sector, has been instrumental in supporting this shift through master-planned communities that combine luxury, livability, and financial accessibility. The company's latest offerings are designed to meet the needs of today's mortgage-savvy buyer—prioritizing quality construction, sustainability, and future-ready design. The surge in mortgage-backed purchases comes as Ras Al Khaimah continues to roll out a series of transformational initiatives—from expanding its international airport and boosting hospitality infrastructure to introducing new economic free zones and sustainability-driven urban plans. These developments are not only attracting global attention but also creating fertile ground for end-users to invest with confidence. With this financial upswing, Major Developers remains committed to enabling accessible homeownership and investment opportunities, empowering more buyers to become part of the emirate's exciting future.
CairoScene
29-03-2025
- Business
- CairoScene
Ras Al Khaimah Sees 25,000% Growth in Property Transactions Since 2017
Driven by tourism and development, the emirate's real estate market has seen a sharp rise in transactions and mortgages Mar 28, 2025 Ras Al Khaimah's property market has undergone a dramatic transformation over the past seven years, with real estate transactions rising by 25,000% between June 2017 and June 2024, according to newly released data from the Ras Al Khaimah Statistics Centre. Transaction values jumped from AED 10.1 million in mid-2017 to AED 2.53 billion in the same period of 2024, while mortgage values surged by over 21,000%, reaching AED 3.47 billion by July 2024. The data reflects the emirate's emergence as a growing investment destination, particularly in the real estate and tourism sectors. Contributing to the surge are several large-scale projects and infrastructure upgrades, including the expansion of Ras Al Khaimah International Airport and the development of hospitality and entertainment venues along the coast. The emirate's appeal has been further strengthened by demand for waterfront living, particularly among regional and international investors. Recent years have also seen the completion of high-profile residential and mixed-use developments, aligning with government efforts to diversify the economy and position Ras Al Khaimah as a competitive alternative to more saturated UAE property markets.
Zawya
28-03-2025
- Business
- Zawya
RAK nets $688mln in real estate sales amid property boom
The real estate market in Ras Al Khaimah has witnessed unprecedented growth, with transaction volumes skyrocketing by nearly 25,000% 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 an astonishing AED2.53 billion ($688 million) - an exponential leap from just AED10 million ($2.72 million) in June 2017. Similarly, mortgage values have soared, recording AED3.47 billion in July 2024, compared to AED15.8 million in July 2017 - an unprecedented increase of approximately 21,849%. This surge underscores the growing investor confidence and the emirate's rising prominence as a real estate powerhouse, said Andrei Charapenak, the CEO of Major Developers, a leading developer in Ras Al Khaimah. "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," he noted. The surge in transactions, he stated ,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. "We are seeing a paradigm shift in investor sentiment - luxury, sustainability, and lifestyle integration are driving purchasing decisions. Major Developers is committed to shaping the future of real estate in Ras Al Khaimah," he added.- TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
27-03-2025
- Business
- Trade Arabia
RAK nets $688m in real estate sales amid property boom
The real estate market in Ras Al Khaimah has witnessed unprecedented growth, with transaction volumes skyrocketing by nearly 25,000% 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 an astonishing AED2.53 billion ($688 million) - an exponential leap from just AED10 million ($2.72 million) in June 2017. Similarly, mortgage values have soared, recording AED3.47 billion in July 2024, compared to AED15.8 million in July 2017 - an unprecedented increase of approximately 21,849%. This surge underscores the growing investor confidence and the emirate's rising prominence as a real estate powerhouse, said Andrei Charapenak, the CEO of Major Developers, a leading developer in Ras Al Khaimah. "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," he noted. The surge in transactions, he stated ,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.
Khaleej Times
26-03-2025
- Business
- Khaleej Times
UAE: Ras Al Khaimah real estate transactions surge 25,000% in 7 years
The real estate market in Ras Al Khaimah has grown significantly, with transaction volumes increasing by nearly 250 times or 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 Dh2,535,067,291, up from Dh10,113,300 in June 2017. Similarly, mortgage values rose to Dh3,475,928,534 in July 2024, compared to Dh15,836,398 in July 2017, an increase of approximately 21,849 per cent. This reflects growing investor confidence and the emirate's position as a real estate hub. The transaction increase comes as Ras Al Khaimah continues to attract investment through strategic initiatives, including the expansion of Ras Al Khaimah International Airport, significant hospitality and entertainment projects, and a growing focus on sustainable urban development. Christopher Cina, Director of Sales at Betterhomes, told Khaleej Times the surge in transactions is linked to increased development, improved connectivity, and growing demand for beachfront properties. 'The integrated gaming resort is expected to bring 4 million tourists a year to Ras Al Khaimah. Naturally, people prefer beachfront property as well,' he said. He also pointed to the rising number of completed projects and growing market confidence. 'Mortgage activity shows that lenders are taking the market seriously, and more importantly, it indicates that many developments are now complete. The numbers have gone up, and market sentiment has improved because, while there was limited development five years ago, today, there is a significant amount.' Andrei Charapenak, CEO of Major Developers, commented on the market growth: 'Ras Al Khaimah is no longer an emerging player it has established itself as an investment destination. The increase in real estate transactions and mortgage values reflects the emirate's economic development, driven by leadership, infrastructure projects, and demand for residential and commercial spaces.' He added: 'We are seeing a shift in investor sentiment, with luxury, sustainability, and lifestyle integration playing a major role in purchasing decisions. The real estate sector in Ras Al Khaimah is evolving to meet global standards, and new developments are catering to both local and international buyers.'
