Ras Al Khaimah’s real estate market has witnessed unprecedented growth in recent years, with transaction volumes skyrocketing by nearly 25,000 percent over the past seven years, according to the latest data from the Ras Al Khaimah Statistics Center.
2024 saw a record-breaking surge in transactions to AED15.08 billion from AED6.94 billion a year earlier, marking a remarkable 118 percent increase.
This unprecedented growth underscores Ras Al Khaimah’s rising appeal among real estate investors and homebuyers, further solidifying its position as one of the UAE’s most promising property markets. The surge in transactions also reflects the emirate’s continued transformation into a hub for high-end yet accessible real estate, offering a unique blend of luxury, affordability and long-term investment potential.
Mortgage values surge 21,849 percent
Ras Al Khaimah’s total value of real estate transactions in June 2024 reached an astonishing AED2.53 billion, an exponential leap from just AED10.1 million in June 2017.
Similarly, mortgage values have soared, recording AED3.47 billion in July 2024, compared to AED15.8 million in July 2017. This marks an unprecedented increase of approximately 21,849 percent, underscoring the growing investor confidence and the emirate’s rising prominence as a real estate powerhouse.
“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,” stated Andrei Charapenak, CEO of Major Developers.
Strategic initiatives driving growth
The surge in real estate 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.
“We are seeing a paradigm shift in investor sentiment—luxury, sustainability and lifestyle integration are driving purchasing decisions,” Charapenak added.
With its prime waterfront developments, strategic infrastructure projects and expanding entertainment offerings, including the much-anticipated Wynn Al Marjan Island, with the first UAE casino, Ras Al Khaimah is attracting both global and regional investors seeking high-yield opportunities.
Projects such as Al Marjan Island—home to some of the most sought-after waterfront residences in the UAE— are seeing heightened demand, with investors eyeing strong rental returns ahead of the Wynn Resort’s grand opening.
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Residential sector set for significant growth
In 2024, the emirate recorded a total of 2,985 sales transactions, surpassing AED6 billion in value. Additionally, 1,224 mortgage transactions were completed, with contract values exceeding AED4 billion, alongside 845 assignment transactions with a total market value of more than AED3 billion.
Ras Al Khaimah has experienced substantial development in the real estate sector in the past decade across the clusters of Al Hamra, Mina Al Arab and Marjan Island. The emirate is poised to experience significant growth in its residential sector, with a total of 14,148 new residential units announced to be developed between 2026 and 2029. Branded residences account for 5,604 of these units, reaching a 40 percent share of the total.
In a recent report, Stirling Hospitality Advisors said that real estate units experienced an average price increase of 30 percent in 2022, driven by the Wynn Resort announcement and an anticipated population surge projected to grow by 55 percent through 2030.
With Ras Al Khaimah’s strategic location, premium destination appeal, ongoing infrastructure development and government initiatives, the region is gearing up for further price growth. Projections indicate that prices in Ras Al Khaimah’s secondary market could reach approximately AED4,000 per square foot by 2027 and AED4,500 by 2030.
