Ras Al Khaimah's Residential Market Set to Double by 2030

Staff Writer

May. 06, 2025

Ras Al Khaimah (RAK), the UAE's northernmost emirate, is poised for significant growth in its real estate sector. According to a recent report by Savills, the residential property stock in RAK is projected to double by 2030, with over 11,000 new units scheduled for completion based on launches through 2024.

Marjan Island in emirate of Ras al Khaimah in the UAE

Image source: Shutterstock

This expansion is driven by a combination of factors, including a surge in tourism, strategic infrastructure investments, and the development of high-profile projects like the Wynn Al Marjan Island resort. The $5.1 billion integrated resort, set to open in 2027, will feature 1,542 rooms and suites, 225,000 square feet of gaming space, and extensive retail and entertainment facilities.

The real estate market has seen a significant uptick in activity, with sales transaction values exceeding AED 11 billion in 2024. Off-plan sales have dominated, particularly in communities such as Al Marjan Island, Mina Al Arab, and Al Hamra, which have experienced steady increases in capital values and rental rates since 2022.

Branded residences are becoming increasingly popular, accounting for 32% of the anticipated supply on Al Marjan Island. The Sunshine Bay development exemplifies this trend, with all 240 units sold within three months of its late 2024 launch, achieving average prices of over AED 2,200 per square foot. Buyers represented 37 nationalities, with British investors accounting for more than 40%.

Wadi Showka dam in Ras Al Khaimah (source: Shutterstock).

Tourism is a significant driver of this growth, with RAK welcoming 1.28 million visitors in 2024, marking a 5.1% year-on-year increase. Air arrivals rose by 28%, underscoring the emirate's appeal as a regional short-stay destination.

RAK's strategic location, competitive pricing, and initiatives like the Golden Visa program are attracting investors from across the globe. With ongoing infrastructure enhancements, including the expansion of Ras Al Khaimah International Airport and the upcoming Etihad Rail connection, the emirate is well-positioned to sustain this growth trajectory.