Savills' report indicates that over 11,000 new residential units are anticipated to be delivered by the end of the decade, driven by launches planned through 2024.
Ras Al Khaimah Real Estate Set to Double by 2030 as Tourism and Luxury Demand Surge
Ras Al Khaimah’s residential real estate market is experiencing unprecedented growth, with housing stock expected to double by 2030. According to Savills Middle East, this surge is fueled by expanding tourism, large-scale luxury developments, and rising investor demand.
Over 11,000 new residential units are projected to be delivered by the end of the decade, based on project launches through 2024. This growth is driven primarily by off-plan sales, with key investment hotspots including Al Marjan Island, Mina Al Arab, and Al Hamra — all showing strong increases in capital values and rental rates.
A key trend shaping the market is the rise of branded residences, which now account for 32% of upcoming supply on Al Marjan Island. “This reflects growing appetite for lifestyle-led, premium real estate investments,” said Andrew Cummings, Head of Residential Agency at Savills Middle East.
In 2024 alone, sales transaction values exceeded AED 11 billion, with the Sunshine Bay project on Al Marjan Island selling out all 240 units in just three months at an average price of AED 2,200 per sq ft. British nationals made up over 40% of buyers, contributing to a diverse pool spanning 37 nationalities.
This momentum is closely tied to Ras Al Khaimah’s tourism boom. The emirate welcomed 1.28 million tourists in 2024 — a 5.1% increase year-on-year. Air arrivals jumped 28% to reach 661,000, underlining the emirate’s growing appeal as a regional short-stay destination.
Anchored by pristine beaches, desert landscapes, and attractions like Jebel Jais, RAK’s tourism industry is poised for further acceleration with the 2027 opening of Wynn Al Marjan Island — a landmark 62-hectare development featuring 1,542 rooms and the UAE’s first commercial gaming facility.
Yet Ras Al Khaimah is no longer just a tourist hotspot. “RAK’s evolution is now beyond tourism alone,” said Rachael Kennerley, Head of Research at Savills Middle East. “Infrastructure, education, and lifestyle amenities are aligning to make it a long-term investment destination.”
The emirate’s appeal is also strengthened by improvements in education and international dining. In the 2023–24 academic year, seven schools were rated ‘good’, up from three, with The British School Al Hamra becoming the first in the Northern Emirates to receive a ‘very good’ rating.
Looking ahead, Savills plans to launch Anantara Mina Ras Al Khaimah Residences in April 2025, offering 84 beachfront units starting from AED 2.2 million, with handover expected in Q3 2028.
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