The residential property market in Ras Al Khaimah (RAK) is on track for significant growth, with its housing supply projected to double by 2030, according to insights from Savills.
Over 11,000 New Homes Coming
Current development activity indicates more than 11,000 residential units will be delivered by the end of the decade. Most of these projects are off-plan, with Al Marjan Island, Mina Al Arab, and Al Hamra leading the charge in both capital appreciation and rental yields.
Lifestyle-Driven and Branded Living on the Rise
A growing number of projects now feature branded residences, with 32% of new supply on Al Marjan Island falling into this premium category. This reflects a shift in buyer preferences toward lifestyle-focused real estate.
Surging Demand from Global Buyers
So far in 2024, transaction volumes have exceeded AED 11 billion, with projects like Sunshine Bay selling out swiftly. British nationals account for over 40% of buyers, highlighting RAK’s international investment appeal.
Boosted by Tourism and Infrastructure
The emirate welcomed 1.28 million visitors in 2024, a 5.1% increase over last year. Air travel also spiked 28%, reaffirming RAK’s reputation as a top short-stay destination in the region.
The upcoming Wynn Al Marjan Island resort, set to open in 2027 with over 1,500 rooms and the UAE’s first commercial gaming venue, is expected to further elevate RAK’s global profile.
A Destination for Long-Term Living
Beyond tourism, RAK is becoming a hub for long-term residents thanks to improved schools, lifestyle amenities, and growing dining options. The number of ‘good’-rated schools rose from 3 to 7 this academic year, with British School Al Hamra achieving a ‘very good’ rating — a first for the Northern Emirates.
Looking Ahead
Savills is preparing to launch Anantara Mina Ras Al Khaimah Residences in April 2025. This luxury beachfront development will include 84 residences, starting at AED 2.2 million, with handover expected in Q3 2028.
