“Several pockets in Ras Al Khaimah, including Mina Al Arab, Al Marjan Island, and Al Jazirah Al Hamra, are poised to become the next hot spots for real estate investments in the UAE. A recent market study forecasts that property prices in these areas could surge by up to 21 percent over the next 12 months, making them increasingly attractive to high-net-worth individuals and investors.
The rising status of Ras Al Khaimah as a sought-after tourist destination in the country, coupled with record-breaking tourist arrivals in the first half of 2023, has significantly boosted property demand and prices in the emirate. Additionally, the entry of major players in the global hospitality sector and the emergence of luxurious beachfront resorts, reminiscent of the Maldives, have been key drivers behind this property market boom.
According to Realiste, a leading proptech platform utilizing AI-based market forecasting, Mina Al Arab is at the forefront of Ras Al Khaimah’s real estate development, offering investors an impressive average return of over 20 percent in the first year. While property prices in Al Marjan Island and Al Jazirah Al Hamra are experiencing slightly lower growth rates at 17.7 percent and 13.2 percent, respectively, they remain appealing options for investors, promising relatively high returns.”
This revised version highlights key investment opportunities, destinations, and market trends, which can help improve its visibility in search engines.
Surge in project launches, entry of 5-star Ras Al Khaimah hotels
The Realiste report said the surge in demand for properties has led to the key pockets seeing a flurry of new project launches and heavy investments by five-star hotel groups in RAK.
Bay Residences, Gateway Residences and Marbella (in Mina Al Arab), Dana Bay Phase-3, Al Mahra and Bab Al Bahr Residences (Al Marjan Island) and Royal Breeze in Al Jazirah Al Hamra are among the high-end residential real estate projects launched in the recent period in the wake of the surge in demand.