Ras Al Khaimah Rises: Real Estate Boom Redefines UAE’s Northern Emirate
KUALA LUMPUR, Aug 21 (Bernama) -- Ras Al Khaimah is fast becoming one of the United Arab Emirates (UAE)’s hottest property markets, with real estate surging on the back of visionary leadership and strategic development.
The Emirate’s transformation is guided by the ambitious roadmap of UAE Supreme Council Member and Ruler of Ras Al Khaimah, Sheikh Saud bin Saqr Al Qasimi, blending sustainable growth with economic diversification, according to a statement.
In recent years, property sales and prices have surged in Ras Al Khaimah, driven by a wave of hospitality, commercial and residential projects. 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 Chief Executive Officer (CEO), Abdullah Al Abdooli.
Home to ultra-luxury brands including Wynn, JW Marriott, Nobu, Missoni and The Address, the island is also the site of RAK Central—a futuristic commercial and multifunctional hub.
Developer Al Hamra, under CEO Benoy Kurien, is building on its legacy with integrated communities like Al Hamra Village and landmark projects such as Waldorf Astoria Residences, Falcon Island and Al Hamra Waterfront.
Further along the coast, RAK Properties is enhancing the Emirate’s shoreline with the Mina development, already home to award-winning Anantara and InterContinental resorts, with Nikki Beach and Four Seasons in the pipeline.
-- BERNAMA