UAE: RAK’s residential supply set to double by 2030: report

Ras Al Khaimah’s residential real estate stock is expected to double by 2030, underpinned by growing tourism demand and large-scale developments such as the Wynn Al Marjan Island resort, according to real estate consultancy Savills.

More than 11,000 new residential units are projected for delivery by the end of the decade, based on launches through 2024.

Off-plan sales are dominating activity in 2024, with Al Marjan Island, Mina Al Arab and Al Hamra recording notable growth in both capital values and rents.

“Branded residences now account for 32 per cent of expected supply on Al Marjan Island,” said Andrew Cummings, Head of Residential Agency at Savills Middle East. “This reflects growing appetite for lifestyle-led, premium real estate investments.”

Sales transaction values have surged past Dhs11bn in 2024, with Sunshine Bay on Al Marjan Island selling all 240 units in three months at an average of Dhs2,200 per sq ft.

British nationals made up over 40 per cent of buyers, part of a broader international pool spanning 37 nationalities.

The momentum is fuelled by rising visitor numbers, with the emirate recording 1.28 million tourists in 2024 — a 5.1 per cent year-on-year increase.

Air arrivals rose 28 per cent to 661,000, underlining Ras Al Khaimah’s emergence as a regional short-stay destination.

Tourism growth, anchored by beach resorts, desert landscapes and Jebel Jais attractions, is set to accelerate further with the 2027 opening of Wynn Al Marjan Island.

The 62-hectare project will feature 1,542 rooms and the UAE’s first commercial gaming operation.

RAK is more than just a tourist draw

“RAK’s evolution is now beyond tourism alone,” said Rachael Kennerley, Head of Research at Savills Middle East. “Infrastructure, education and lifestyle amenities are aligning to make it a long-term investment destination.”

Improved schooling and international dining options are also reinforcing the emirate’s appeal.

Seven schools received ‘good’ ratings in the 2023-24 academic year, up from three the previous year, with the British School Al Hamra rated ‘very good’ — a first for the Northern Emirates.

Savills is set to launch Anantara Mina Ras Al Khaimah Residences in April 2025, offering 84 units starting fromDhs2.2 m with handover expected in Q3 2028.

Read: Why RAK’s Al Marjan is set for a big ‘Wynn’