The Oasis by Emaar: An Entry to the Ultra-luxury Segment

Introduction

Dubai is an emirate that has never failed to excite its investors and buyers. But right now, Ras Al Khaimah, which is also called RAK, is quickly transforming into a real estate hotspot with scenic views and proximity to the Arabian Gulf, performing as well as Dubai or even beyond. Here a combination of factors are driving this lead, with the upcoming Wynn Casino at Al Marjan Island playing the main role. The announcement of this casino is leading more people to invest and make Ras Al Khaimah their second home. Witnessing a great demand, the prices for the properties here have increased by 50% in 2023. Will the same happen in 2024? Yes, experts are expecting an extra rise of 10-15%.

A Rapidly Growing Market

Rak’s real estate market is experiencing a great growth, and the experts are predicting that property prices will see another 50% rise by the time the Wynn Resort opens. This increase in price showcases RAK’s growing popularity as a prime location for investment. If you are about to consider entering the market, the time to invest in Ras Al Khaimah is now. With ongoing developments and increased demand, the market offers the right opportunity here.

Casinos normally have a major impact on the local economy and real estate market. Likewise, the Wynn Al Marjan Resort that is set to be opened in 2027 has already started impacting the properties here. Wynn Casino is a brand that has made waves in the other global cities and has driven the potential of their real estate just with the presence of this sensational project. Now, this prestigious brand in RAK has started attracting both local and international investors even before the arrival of this project. They don’t just attract the investors, but also help in increasing the property value and rental demands.

Additionally, the DoubleTree by Hilton Resort & Spa Marjan Island, known for its luxurious beachfront accommodations and upscale amenities, has significantly influenced the local real estate market.

A Surge in International Investors

Holding a rich surrounding, RAK is attracting a significant amount of interest from international investors, which indicates the secured future of the emirate’s property market. Investors from countries like the US, UK, Europe, and the Commonwealth of Independent State (CIS) show a desired interest to invest in UAE’s next emerging hub. A growing interest from India, Pakistan, and Southeast Asia, have been noticed recently and this is highly strengthening the appeal of RAK as the most prime destination to invest. Counting all these factors, and by considering the hiking growth of Ras Al Khaimah, investors are rushing to the emirates and are ready to own properties from luxury villas to apartments that offer the most breathtaking views of the sea. This evolving demand is due to the affordable nature of the properties here, along with luxurious features like a private beach that attract international investors.

Real Estate Hotspots in RAK

The most demanding areas for investment in Ras Al Khaimah are:

Al Marjan Island Mina Al Arab Al Hamra Village Al Hamra Mall is a key shopping destination for residents of Al Marjan Island, offering over 120 retail outlets and various dining and entertainment options. Breeze Island, featuring luxury amenities such as two 5-star beach resorts and landscaped areas, is also a prominent location near Ras Al Khaimah.

Since waterfront properties have a special fan base, properties that are water facing and the ones with private beaches are especially popular here. Al Marjan Island is a remarkable manmade destination composed of four coral-shaped islands. Studios and 1 BR apartments are the properties that perform better in terms of short term rentals. Dream Island, with its 16,000 sq. ft. waterfront space, holds future potential for development, including hotels and clubs. Many projects feature parking lots either outdoors or within a covered area situated on the ground floor. The island also provides extensive facilities designed for children's enjoyment, including a dedicated kids' pool and play areas. Luxurious hotels and resorts near Al Marjan Island offer multiple outdoor pools, catering to families and guests seeking relaxation and leisure activities. Resorts on the island also offer comprehensive spa services, such as those available at Spa Marjan and Spa Marjan Island. Numerous swimming pools are available for guests, including three swimming pools at various luxury resorts. Treasure Island, with its residential projects and hospitality offerings, and Turtle Beach, known for its water sports activities, are significant attractions. The waterfront area on Dream Island, poised for development, further enhances the investment opportunities in the region.

Considering this as a reason, they have witnessed a great demand among the investors. Over the past few months, the price of the studio units have seen an increase of 10-15% and the 1 BR units have risen by 5-10% as well. Larger properties, like branded apartments, 3 BR units, and waterfront villas priced at AED 7 million or more, are also attracting significant attention. Many buyers are looking for these properties as either personal residences or holiday homes.

Growing Real Estate Market

Ras Al Khaimah's unique offerings are adding more value to the existing fame and positive outlook. The giant real estate developers like Emaar Properties , Aldar, Damac Properties and more have marked their footprint here and this is greatly driving the land value. More than that, the quick expansion of residential development has exceeded the growth of necessary social infrastructure like schools, hospitals, and shopping malls here. Since these factors are the most preferred ones from the buyers side, it is also going to be a contributor to the continued demand growth.

Conclusion: A Bright Future for RAK Real Estate

The future of Ras Al Khaimah’s real estate market looks brighter from all aspects. The upcoming Al Marjan Resort will truly attract tourism and is expected to increase the demand for short-term as well as long term housing. Spa services available at Spa Marjan Island, including treatments at the Eforea Ladies Spa at DoubleTree, add to the luxury offerings and recreational activities on the island. This mega Casino development and the existence of the high-end developers at Ras Al Khaimah sees a continued interest from international investors. Beyond that the property price here is also experiencing a steady rise. Holding all facts, the emirate is set to remain as the next rising star of real estate investment in the UAE.