UAE – Mubasher: Ras Al Khaimah’s real estate market has shattered records in just four years, said CEO of Major Developers, Andrei Charapenak.
According to official figures of Ras Al Khaimah Statistics Center, real estate transactions in the first three quarters of 2024 soared to AED 11.95 billion, a jaw-dropping increase exceeding 70% when compared to AED 3.84 billion in 2020.
These figures highlight Ras Al Khaimah’s transformation into one of the UAE’s most dynamic real estate markets.
The emirate’s ability to offer luxury living at a fraction of the cost seen in other matured markets worldwide has made it an irresistible choice for investors and residents alike.
Additionally, Ras Al Khaimah is emerging as a premier entertainment hub, bolstered by developments like the Wynn Resort, which promises world-class leisure and hospitality experiences.
Coupled with international flight connectivity and a focus on sustainable developments, Ras Al Khaimah resonates with modern buyers seeking eco-friendly, efficient homes, and a vibrant lifestyle.
Ras Al Khaimah’s appeal extends beyond just homebuyers, according to the CEO. Its rental market remains robust, supported by a growing expatriate population and steady demand for high-quality properties.
The emirate’s strategic developments, such as the limited supply of 20,000 units on Al Marjan Island, position it as a lucrative destination for investors.
Projects like Manta Bay, offering the most affordable studio apartments on Al Marjan starting at AED 1.20 million, are particularly attractive given their proximity to key attractions like the upcoming Wynn Resort.
In today’s market, two years ahead of Wynn’s grand opening, the average hotel room in the area ranges between AED 1,000 and AED 1,500 per night.
For property investors in Manta Bay, assuming an apartment is rented at AED 1,000 per night for 255 days annually—a conservative estimate of 75% occupancy—could generate AED 255,000 in rental income per year.
After deducting management fees (15%, or AED 30,000), service charges (AED 6,000), and other miscellaneous expenses including water and electricity (AED 7,000), investors are left with a net income of AED 212,000 annually.
This translates to a remarkable rental ROI of 15%, underscoring the emirate’s position as a stable and well-regulated environment offering long-term returns.
With a balance of affordability and luxury, and a thriving rental market fuelled by strategic infrastructure and entertainment investments, Ras Al Khaimah is quickly becoming a preferred destination for both end-users and investors as a high-growth markets in the UAE.
