According to the latest data from the Ras Al Khaimah Statistics Center, the real estate market for Ras Al Khaimah has increased by almost 250 or 25,000% over the past seven years.
The overall value of real estate transactions in June 2024 was Dh2,535,067,291, an increase from Dh10,113,300 in June 2017. Similarly, mortgage values increased by almost 21,849 percent to Dh3,475,928,534 in July 2024, up from Dh15,836,398 in July 2017. This reflects increased investor confidence and the emirate’s status as a real estate powerhouse.
The increase in transactions comes as Ras Al Khaimah continues to attract investment through strategic projects such as the expansion of Ras Al Khaimah International Airport, substantial hospitality and entertainment facilities, and a renewed emphasis on sustainable urban development.
Christopher Cina, Director of Sales at Betterhomes, told Khaleej Times the surge in transactions is linked to increased development, improved connectivity, and growing demand for beachfront properties. “The integrated gaming resort is expected to bring 4 million tourists a year to Ras Al Khaimah. Naturally, people prefer beachfront property as well,” he said.
He also mentioned the increasing number of finished projects and building market confidence.
“Mortgage activity shows that lenders are taking the market seriously, and more importantly, it indicates that many developments are now complete. The numbers have gone up, and market sentiment has improved because, while there was limited development five years ago, today, there is a significant amount.”
Andrei Charapenak, CEO of Major Developers, commented on the market growth: “Ras Al Khaimah is no longer an emerging player it has established itself as an investment destination. The increase in real estate transactions and mortgage values reflects the emirate’s economic development, driven by leadership, infrastructure projects, and demand for residential and commercial spaces.”
He added: “We are seeing a shift in investor sentiment, with luxury, sustainability, and lifestyle integration playing a major role in purchasing decisions. The real estate sector in Ras Al Khaimah is evolving to meet global standards, and new developments are catering to both local and international buyers.”
