In recent years, Ras Al Khaimah has seen an influx of major property projects transforming the real estate landscape. From luxury property developments, global hotel brands to branded residences, Ras Al Khaimah has positioned itself as a real estate hotspot for investment in the UAE.
Bayut’s 2023 RAK Market Report revealed unprecedented demand for properties in exclusive waterfront and island communities, including Al Hamra Village, Al Marjan Island, and Mina Al Arab.
Luxe developments continue to shape the skyline in these areas, with some properties listed over AED 80M. Since last year, Bayut reported apartment prices jumped nearly 20 percent, making these waterfront communities the most popular in Ras Al Khaimah.
Here is what each neighbourhood has to offer:
Al Hamra Village
According to Bayut’s data, Al Hamra Village has emerged as the top property investment location, featuring over 2,500 homes across four interconnected lagoons.
Last year saw substantial growth, with property prices rising on average at 5% per square foot and rents between 3% and 6% per Bayut. The average return on investment was just over 7%.
The most anticipated project is Falcon Island, an exclusive island community set for early 2025 completion. It will have over 500 townhouses and villas starting at $2.1M.
Much of the appeal comes from the complete lifestyle that Al Hamra Village offers. The neighbourhood comprises four interconnecting lagoons, a marina, yacht club, dining, shopping mall, and an 18-hole golf course. Neighbourhoods such as Royal Breeze, Marina Residences, and Golf Apartments have been popular areas among families seeking privacy along with golf enthusiasts.
While the area lacks public transportation, the amenities and lifestyle offering offset that for most buyers. Property prices in Al Hamra Village are forecasted to grow 13% on average this year according to Realiste.
Mina Al Arab
Mina Al Arab has emerged as one of Ras Al Khaimah’s most prestigious residential destinations, home to upcoming developments such as Cape Hayat, Porto Playa and RAK Properties latest masterpiece “Quattro Del Mar Project”.
These luxury properties promise an integrated lifestyle hub with entertainment and world-class facilities, positioning itself as a high-profile residential area within the Emirate. Property prices on the Peninsula have fetched upward of AED 20M, and have attracted families and investors seeking access to nature.
The gated waterfront community features villas and apartments located within a protected wetland area. The surge in demand for properties in this area has led to the key pockets seeing a flurry of new project launches.
Bay Residences, Gateway Residences and Marbella Villa Phase 2 are among the high-end residential real estate projects launched in the recent period in the wake of the surge in demand.
Developer RAK Properties reported record sales of AED 2.8B in 2023, fueled by rapid sell-outs of new projects, a trend that is expected to continue in 2024.
Surrounding the area, the InterContinental and Anantara resort are the only hotels as of currently, although more are on the way.
This year ahead, RAK Properties’ joint venture with Ellington and addition of Nikki Beach Resort & Spa will further expand offerings within the community. According to AI-based market forecast Realiste, property prices could surge up to 20.7% amid tight supply and strong buyer interest.
Al Marjan Island
With the upcoming $3.9B Wynn resort, Al Marjan Island has rapidly established itself as Ras Al Khaimah’s foremost luxury hub, drawing high-end developers and high net-worth investors.
According to real estate portal Bayut, prices per square foot for existing properties rose up to 8% last year, indicative of surging demand.
Developments such as Bab Al Bahr Residences on Breeze Island and Pacific have proven popular choices for investors seeking waterfront living.
Dream Island, where the Wynn resort will be located, is becoming an exclusive enclave with luxury branded residences attracting ultra-high-net-worth individuals.
For rental properties, property experts anticipate a very high demand for any type of property located on Al Marjan and in the vicinity of the multi-billion dollar Wynn resort.
This continued expansion of luxury development further elevates Ras Al Khaimah as a thriving global destination. In 2023, Ras Al Khaimah Tourism Development Authority (RAKTDA) reported highest-ever annual visitor numbers, welcoming a record 1.22M overnight arrivals.
With continued development of hotels and residential properties in the pipeline, the island is fast becoming the centre of tourism in Ras Al Khaimah. Its palm-tree-lined corniche and beaches have proved a draw for visitors, alongside running and cycling tracks attracting fitness enthusiasts.
