Ras Al Khaimah real estate market is growing faster than Dubai as investors snap up property.
Ras Al Khaimah Real Estate Market Surges to Record AED 15.08bn in 2024
The real estate sector in Ras Al Khaimah witnessed an unprecedented boom in 2024, with total property transactions reaching an all-time high of AED 15.08 billion ($4.1 billion), as per figures released by the emirate’s Municipality.
This marks a staggering 118% growth compared to AED 6.94 billion ($1.9 billion) recorded in 2023, highlighting the emirate’s increasing appeal among investors and homebuyers. The remarkable expansion further cements Ras Al Khaimah’s position as one of the UAE’s fastest-growing real estate markets.
A Thriving Real Estate Landscape
The surge in transactions showcases Ras Al Khaimah’s evolution into a premier destination for high-quality yet affordable real estate. The emirate continues to attract buyers with its perfect mix of luxury, cost-effectiveness, and promising long-term investment opportunities.
Prime waterfront developments, major infrastructure enhancements, and a growing entertainment sector—including the much-anticipated Wynn Al Marjan Island, set to feature the UAE’s first casino—are drawing significant interest from both regional and international investors seeking lucrative returns.
Andrei Charapenak, CEO of Major Developers, commented: “The remarkable rise in real estate transactions in Ras Al Khaimah reflects its transformation into a leading investment hotspot. Major Developers recognized the emirate’s potential early on, and we remain dedicated to shaping its future by delivering premium waterfront projects that align with Ras Al Khaimah’s vision for high-value, sustainable real estate.”
Demand Soars for Al Marjan Island Residences
Wynn Resorts recently provided key construction and financial updates for its upcoming luxury resort on Al Marjan Island, signaling strong investor confidence in the project.
Charapenak added: “The demand surge in 2024 demonstrates that investors and homebuyers see the immense potential this market holds. We are committed to developing world-class properties that maximize long-term returns.”
With Al Marjan Island offering some of the UAE’s most desirable waterfront residences, investor interest continues to rise. Many buyers are anticipating strong rental yields ahead of the highly awaited grand opening of the Wynn Resort.
