RAK Properties unveils The Strand
RAK Properties unveiled The Strand, a new residential-led community in Marjan Beach District, marking their multi-masterplan evolution. The development is part of Ras al Khaimah's broader transformation alongside the Wynn Al Marjan Island resort construction remaining on schedule for 2027 opening according to Q4 results.
- The Strand is a significant development for RAK Properties, covering 187,000 square meters of land with a gross floor area of 540,000 square meters for residences and retail. It is designed with a "people-first" approach, featuring three distinct districts: the Urban District for co-working and dining, the Creative District with studios and cultural spaces, and the Garden District focused on wellness. - This project is a key component of the larger Marjan Beach district, which is planned to include approximately 12,000 hotel rooms and 22,000 residential units, accommodating an estimated 74,000 residents and a workforce of over 32,000. - The development strategically aligns with Ras Al Khaimah's Vision 2030, which aims to diversify the economy and establish the emirate as a global investment and lifestyle destination. The Strand's proximity and bridge access to the Wynn Resort are central to its investment appeal. - RAK Properties has demonstrated strong financial performance leading up to this launch, with a reported 142% year-on-year increase in total sales value to AED 3.36 billion for the full year 2025. The company's CEO, Sameh Muhtadi, is targeting 25% annual growth in revenue, profits, and project delivery over the next five years. - The neighboring Wynn Al Marjan Island is a more than $5.1 billion project and will feature the UAE's first legal casino. It is projected to attract millions of visitors annually and is a major catalyst for real estate demand, with property values on Al Marjan Island increasing by over 35% since the project's announcement. - Another major project, "Evermore," was recently launched opposite the Wynn resort on Marjan Beach by Beyond Developments. Valued at over AED 25 billion ($6.8 billion), this development will span more than 7 million square feet, further intensifying the area's transformation. - The government of Ras Al Khaimah is a significant stakeholder in the emirate's development, holding a 34% stake in RAK Properties. This backing is instrumental in the allocation of prime coastal real estate for such large-scale projects.
