RAK Prime Apartments Hit Highs
Prime apartment prices in Ras Al Khaimah Central hit new highs, leading growth in the emirate's property market according to Khaleej Times on February 22. The post garnered 13 likes and highlights RAK's continued real estate momentum. Meanwhile, retailers are stocking Ramadan favorites like harees and luqaimat for iftar as the holy month approaches.
- The emirate's overall real estate transactions surged by 118% in 2024, reaching a total value of AED 15.08 billion, up from AED 6.94 billion in 2023. - In 2025, average apartment prices increased by 32% year-on-year, with prime units in coastal areas like Al Marjan Island and Al Hamra reaching a new high of AED 2,428 per square foot. - A major catalyst for the boom is the upcoming $5.2 billion Wynn Al Marjan Island resort, which will feature the UAE's first licensed gaming facility and is expected to open in early 2027. - Since the Wynn resort's announcement, properties on Al Marjan Island have seen their value increase by more than 35%, with some analysts predicting prices could rise by as much as 60% as the opening nears. - The market is heavily driven by new projects, with off-plan sales accounting for 84% of total transactions in the first nine months of 2025. - Strong tourism growth underpins property demand, with Ras Al Khaimah welcoming a record 1.36 million visitors in 2025. - The Ras Al Khaimah Economic Zone (RAKEZ) has also bolstered the economy by adding more than 19,000 new companies, creating a solid platform for sustained real estate demand. - To meet this growing demand, developers have announced plans for over 14,000 new residential units to be delivered between 2026 and 2029, with a strong focus on branded residences.
