Ras Al Khaimah’s property market surges 25,000% in seven years
Property transactions hit record figures amid soaring investor confidence.
Ras Al Khaimah’s real estate sector is witnessing an extraordinary boom, with transaction values skyrocketing by nearly 25,000% in just seven years.
According to the Ras Al Khaimah Statistics Centre, the total value of real estate transactions in June 2024 reached Dh2,535,067,291 – an astonishing rise from just Dh10,113,300 in June 2017.
Mortgage activity has surged at a similar pace. In July 2024, mortgage values totalled Dh3,475,928,534, compared to Dh15,836,398 in July 2017 – an unprecedented increase of approximately 21,849%. The figures highlight the emirate’s rapid transformation into a key real estate hub, attracting both local and international investors.
A prime investment hub
Industry leaders attribute this exponential growth to strategic infrastructure projects, investor-friendly policies, and a rising demand for high-end properties. Andrei Charapenak, CEO of Major Developers, remarked on the market’s evolution: “Ras Al Khaimah is no longer an emerging player – it has cemented itself as a prime investment destination.”
The emirate’s growth is being driven by large-scale developments, including the expansion of Ras Al Khaimah International Airport, major hospitality and entertainment investments, and a strong push toward sustainable urban planning. These initiatives have significantly boosted investor confidence, leading to record-breaking real estate activity.
Luxury and sustainability
With investor sentiment shifting, the demand for premium, sustainable, and lifestyle-driven developments is at an all-time high. Charapenak noted: “Luxury, sustainability, and lifestyle integration are shaping purchasing decisions. Major Developers is committed to delivering world-class projects that set new benchmarks in the industry.”
As Ras Al Khaimah continues its rapid expansion, property developers are seizing the opportunity to introduce high-end residential and commercial spaces tailored to the evolving market. With billions in transactions and an influx of global investors, the emirate’s real estate sector shows no signs of slowing down.
Major Developers, a leading UAE-based real estate company, remains at the forefront of this transformation, spearheading innovative projects that redefine modern living.