Ras Al Khaimah (RAK) embodies an exciting change in its tourism and real estate sectors, with strong investor interest, rising visitor numbers, and megaprojects feeding into this exciting development. In a new report by Savills, the Emirate’s residential supply is set to double to the end of 2030, and with greater than 11,000 units planned to be delivered as of launches until the end of 2024.
Mega Projects Leading the Charge
Wynn Al Marjan Island is one of the most significant contributors to this uptick. It is the UAE’s first integrated resort to have a commercial gaming operator’s license and is anticipated to launch in 2027 on 62 hectares of land, which is expected to include:
- 1,542 rooms and suites
- 225,000 sq ft of gaming space
- 15,000 sq m of retail
- Large-scale entertainment and event venues
Since the announcement of the Wynn Al Marjan Island resort, we have also seen strong capital value growth and leasing rate growth in surrounding communities such as Al Marjan Island, Mina Al Arab and Al Hamra. The 2024 real estate market was led by off-plan sales and saw total transaction values in excess of AED 11 billion which indicates strong investor and market confidence and demand, and is consistent with a wider trend across the UAE.
Increasing Demand for Branded and High-end Housing
Demand for lifestyle focused developments have been especially pronounced in Al Marjan Island, where branded residences are expected to compose 32% of total supply. More significantly, developments such as Sunshine Bay – launched in late 2024, sold-out 240 units in a few hundred days. It received average prices above AED 2,200 per sq. ft. British investors made up more than 40% of buyers, with the overall pool representing 37 nationalities.
Savills recently announced that it will also launch the Anantara Mina Ras Al Khaimah Residences in April 2025, which features 84 luxury units comprising sky villas and duplexes starting at AED 2.2 million with a 60/40 payment plan with handover expected in Q3 2028.
Tourism Fueling Real Estate Growth
The rising desire to visit RAK as a short-stay destination is underpinning the acceleration of real estate opportunities in RAK. In 2024, the Emirate received 1.28 million tourists, a year-on-year growth of 5.1%. Notably, air arrivals also rose by 28% to 661,000, which suggest strong international interest. Beach resorts, desert beauty, plus leisure pursuits on Jebel Jais, the tallest mountain in the UAE, continue to attract local and international tourists, while improved travel access through RAK International Airport and the proximity of Dubai further connectivity as a gateway for travellers.
Gaming is expected to dramatically change the culture of destination RAK. If the UAE gaming revenue reached 1.6% of GDP based on Singapore research, could we see an opportunity for gaming to contribute to the national economy over AED 20 billion?
Construction of a self-sufficient lifestyle ecosystem
RAK is establishing its own lifestyle and education ecosystem at luxury levels. From pop up like Zuma at the Ritz-Carlton Al Wadi to rising academic status, RAK has matured into a location that is more than a weekend getaway. In the 2023/24 academic year, seven schools received Good rankings, up from three the previous year, and the British School Al Hamra was the only “very good” school in the Northern Emirates rated by the Ministry of Education.
The Outlook
According to Rachael Kennerley, Head of Research at Savills Middle East, “RAK’s evolution is now beyond tourism alone. We’re seeing the pieces come together—infrastructure, education, entertainment, and residential development—which together make a compelling case for long-term investment and growth.”
With robust fundamentals, world-class developments, and rising global interest, Ras Al Khaimah is well on its way to becoming one of the UAE’s most attractive destinations for both lifestyle and investment.