Ras Al Khaimah’s residential real estate supply is projected to double by 2030, with over 11,000 new homes planned, according to a Savills report.
The emirate recorded property sales worth over AED11 billion in 2024, maintaining strong momentum since the pandemic era.
Off-plan purchases have led transaction volumes, with areas like Al Marjan Island, Mina Al Arab, and Al Hamra witnessing steady rises in both property values and rental rates since 2022.
RAK’s transformation into a luxury destination could see gaming revenues reach AED20 billion. “Demand for upscale housing in RAK is on the rise. Branded residences now account for 32 per cent of future supply on Al Marjan Island, showing investor preference for lifestyle-focused, prime locations,” stated Andrew Cummings, Head of Residential Agency at Savills Middle East.
The Sunshine Bay project on Al Marjan Island exemplifies this trend. Launched in late 2024 with Savills as master agents, all 240 units sold within three months at an average of AED2,200 per sq ft. British nationals accounted for over 40 per cent of buyers from 37 different countries.
Savills will launch Anantara Mina Ras Al Khaimah Residences in April 2025, comprising 84 luxury units, with prices from AED2.2 million and handover set for Q3 2028.
This property surge aligns with growing tourism. In 2024, Ras Al Khaimah welcomed 1.28 million visitors, up 5.1 per cent from 2023. International and domestic travellers were evenly split, with air arrivals up 28 per cent year-on-year.
The upcoming Wynn Al Marjan Island resort, the region’s first with a gaming licence, is expected to significantly boost the local economy.
RAK is also enhancing its lifestyle offering, with improved schools and new entertainment options, further strengthening its appeal for long-term investment.
