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Several neighbourhoods in Ras Al Khaimah (RAK) are expected to emerge as leaders in real estate investments over the next year, with property prices potentially seeing a 20% or higher jump. The top contenders include Al Jazirah Al Hamra, Al Marjan Island and Mina Al Arab.
The emirate has already been gaining popularity as a top tourist destination, breaking records for the number of visitors in the first half of 2023. This is in part due to upscale hospitality services, resort-style living environment, and fast-growing economy. These are precisely the same reasons why real estate demand is skyrocketing, along with property prices. The area is also being primed as the newest billionaire’s playground.
Real estate in RAK, and especially in these three neighbourhoods, have exceptionally high ROI, even as much as 20%, as recorded in Mina Al Arab. With the influx of tourists, investors, and locals to this area, luxury residential developers, 5-star hotel chains, golf clubs and globally-renowned brands are flocking here as well and creating a truly exquisite resort-style atmosphere.
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