Ras Al Khaimah’s property sector performing well

Ras Al Khaimah’s property market is seeing high investor interest due to its massive infrastructural transformation and the potential for property value appreciation, according to Sameh Muhtadi, CEO of RAK Properties. The emirate’s robust government, clear vision for sustainable economic growth by 2030, and prospects of high returns make it an attractive investment option. Prices in the area could rise by as much as 50%, says Maxim Novikov, Head of the RAK branch at Metropolitan Premium Properties.

The upcoming casino and gaming resort will serve as a major catalyst, potentially causing a surge in prices upon opening. The market is experiencing diverse interest from 42 countries, boosted by stable outlooks and changes in real estate and visa laws. The emirate’s development plan and affordability compared to other cities in the UAE make it attractive for both locals and expatriates alike. The demand for luxury villas and apartments is high, leading to quick sell-outs and heavy investments in branded residences.

Despite the high demand, property prices in RAK remain significantly cheaper than in Dubai or Abu Dhabi, boosting its attractiveness to value-seeking investors. The emirate’s policies favour foreign property ownership, fueling investment in freehold areas like Mina Al Arab, Al Marjan Island and Al Hamra Village.

There is increasing demand for smaller premium properties, and larger branded apartments and waterfront villas. Rental properties near Al Marjan and the casino are expected to be in demand as well, prompting Metropolitan Premium Properties to open a new office in the emirate in the foreseeable future.