According to Andrei Charapenak, CEO of Major Developers, the real estate market in Ras Al Khaimah has broken all previous records in just four years.
According to official data from the Ras Al Khaimah Statistics Center, compared to AED 3.84 billion in 2020, real estate transactions in the first three quarters of 2024 skyrocketed to AED 11.95 billion, a staggering increase of over 70%.
These numbers demonstrate how Ras Al Khaimah has developed into one of the most vibrant real estate markets in the United Arab Emirates.
Both residents and investors find the emirate an alluring option because it provides luxury living at a fraction of the price found in other developed markets worldwide.
Furthermore, thanks to projects like the Wynn Resort, which offers top-notch leisure and hospitality experiences, Ras Al Khaimah is becoming a major center for entertainment.
Ras Al Khaimah appeals to contemporary customers looking for eco-friendly, energy-efficient residences and a lively lifestyle when combined with international flight connectivity and an emphasis on sustainable developments.
The CEO claims that Ras Al Khaimah’s attraction goes beyond simply homebuyers. Its rental market is nevertheless strong because to the sustained demand for high-quality apartments and the growing number of expatriates.
The emirate is positioned as a profitable location for investors due to its strategic developments, such as the 20,000 units that are available on Al Marjan Island.
With the most reasonably priced studio apartments on Al Marjan starting at AED 1.20 million, projects like Manta Bay are especially alluring because of their close proximity to important landmarks like the soon-to-be Wynn Resort.
The average hotel room in the region costs between AED 1,000 and AED 1,500 per night in the current market, two years before Wynn’s grand debut.
If an apartment is rented for AED 1,000 per night for 255 days a year, Manta Bay real estate investors might earn AED 255,000, which is a conservative estimate of 75% occupancy.
Investors receive a net income of AED 212,000 per year after deducting management fees (15%, or AED 30,000), service costs (AED 6,000), and other incidentals like water and electricity (AED 7,000).
This equates to an impressive 15% rental return on investment, highlighting the emirate’s standing as a secure, well-run setting that provides long-term benefits.
Ras Al Khaimah, a high-growth market in the United Arab Emirates, is rapidly emerging as a popular destination for both end users and investors due to its affordable and luxurious rental market, which is supported by strategic investments in entertainment and infrastructure.
