Al Hamra Sets RAK Record With USD 35.4m Sky Palace Sale

Ras Al Khaimah, UAE: Al Hamra has set a new milestone in Ras Al Khaimah’s residential market with the sale of the Sky Palace at Waldorf Astoria Residences Ras Al Khaimah for USD 35.4 million. The transaction represents the highest-value single-unit residential sale ever recorded in the northern emirate, underscoring growing demand for ultra-luxury waterfront living.

Positioned atop the beachfront tower, the Sky Palace is a one-of-one residence spanning approximately 10,000 square feet across three levels, occupying the uppermost floors of the development. Designed for scale, privacy, and exclusivity, the residence offers uninterrupted views of the Arabian Gulf and Wynn Al Marjan Island on one side, with sweeping mountain vistas on the other, according to the developer.

The Sky Palace owner also benefits from access to an exclusive suite of residents-only amenities located on the 16th floor, including a private lounge, library, cigar lounge, and a dedicated cinema. A private ferry connection provides seamless access to Wynn Al Marjan Island’s integrated resort, offering world-class dining, entertainment, and leisure while maintaining the privacy of a refined residential address.

In a separate transaction, Al Hamra also completed the sale of the development’s signature penthouse for USD 15 million, further reinforcing sustained demand for best-in-class, lifestyle-led homes in Ras Al Khaimah.

The signature penthouse spans approximately 6,000 square feet across the 19th and 20th floors and features 360-degree panoramic views. Thoughtfully designed to prioritise privacy and sophistication, the residence delivers elevated coastal living within one of the emirate’s most distinctive waterfront settings.

Commenting on the milestone, Group CEO Benoy J. Kurien said:

The Sky Palace embodies our vision for luxury living in Ras Al Khaimah, where exclusivity, scale, and quality of life converge to create lasting value. This record-setting sale reflects not only the market’s confidence in the Emirate’s growth trajectory, but our belief that the most enduring investments are those that enrich how life is lived.

With these landmark transactions, Al Hamra has established a new reference point for ultra-luxury residential development in Ras Al Khaimah, reinforcing the emirate’s emergence as a global lifestyle and investment destination.