The Ras Al Khaimah real estate market has experienced remarkable expansion in recent years, with transaction volumes increasing by approximately 25,000 percent during the last seven years, according to the Ras Al Khaimah Statistics Center’s most current data.
Transactions increased by 118 percent in 2024, reaching AED15.08 billion from AED6.94 billion the previous year.
This exceptional rise demonstrates Ras Al Khaimah’s growing attraction to real estate investors and homeowners, cementing its status as one of the UAE’s most promising property markets. The increase in transactions also underscores the emirate’s ongoing metamorphosis into a hotbed of high-end yet affordable real estate, providing 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 was an amazing AED2.53 billion, up from just AED10.1 million in June 2017.
Similarly, mortgage values have increased, reaching AED3.47 billion in July 2024 from AED15.8 million in July 2017. This represents an unparalleled gain of almost 21,849 percent, demonstrating increased investor confidence and the emirate’s burgeoning status 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 increase in real estate transactions comes at a time when Ras Al Khaimah is gaining popularity due to strategic initiatives such as the expansion of Ras Al Khaimah International Airport, hospitality and entertainment investments, and a strong push for sustainable urban development.
“We are seeing a paradigm shift in investor sentiment—luxury, sustainability and lifestyle integration are driving purchasing decisions,” Charapenak added.
Ras Al Khaimah is drawing both global and regional investors looking for high-yield possibilities, thanks to its great waterfront developments, important infrastructure projects, and expanding entertainment options, which include the much-anticipated Wynn Al Marjan Island, which will house the first UAE casino.
Projects like Al Marjan Island, which has some of the most sought-after waterfront residences in the UAE, are witnessing increased demand, with investors looking for excellent rental returns ahead of the Wynn Resort’s debut.
Residential sector set for significant growth
In 2024, the emirate had 2,985 sales deals valued at more than AED6 billion. In addition, 1,224 mortgage transactions were completed, with contract values over AED4 billion, as well as 845 assignment deals with total market values exceeding AED3 billion.
Ras Al Khaimah’s real estate sector has grown significantly over the last decade, particularly in the Al Hamra, Mina Al Arab, and Marjan Island clusters. The emirate’s residential sector is expected to increase significantly, with 14,148 additional residential units planned for development between 2026 and 2029. Branded dwellings account for 5,604 of these units, representing 40% of the total.
According to a recent research by Stirling Hospitality Advisors, real estate units experienced an average price increase of 30% in 2022, driven by the Wynn Resort announcement and a predicted population spike of 55% through 2030.
Ras Al Khaimah’s strategic location, premium destination appeal, ongoing infrastructural development, and government initiatives position the region for additional price growth. Prices in Ras Al Khaimah’s secondary market are expected to reach around AED4,000 per square foot by 2027, and AED4,500 by 2030.