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RAK Real Estate Market Poised to Skyrocket as Demand Outpaces Supply

Ras Al Khaimah’s (RAK) real estate market is poised for significant growth and price appreciation, driven by surging demand and a housing shortage in the next few years, according to Metropolitan Premium Properties (MPP).
Despite the launch of new projects on Marjan Island, the market is expected to face a substantial deficit of homes by the time the Wynn Gaming resort structure is completed in late 2025.
Maxim Novikov, Head of RAK branch at Metropolitan Premium Properties, said: “Even with new projects underway on Marjan Island, RAK will face a shortage of available homes. Demand is expected to continue to outpace supply, making it an exciting market to watch in the near future. There has been strong demand, particularly for waterfront and beachfront properties in RAK with many new developments selling out quickly. Several projects are selling out during their launch phase or even before they are officially announced.”
According to MPP, while numerous new projects are anticipated to be announced this year, the current delivery timeline is creating a significant gap. The number of new units expected to be delivered in RAK this year remains relatively low. For example, in 2024, very few projects were completed, with only 318 units delivered in Marina Residence at Al Hamra and 89 units in Marbela 2. In 2025, the delivery pipeline is slightly more promising, with two projects set to be completed in Mina (formerly Mina Al Arab). These include 648 apartments and 13 lofts in Bay Residence, along with 146 apartments in Gateway 2.
Despite the additional units coming to the market, the demand is still expected to outstrip supply.
The shortage of ready units has resulted in off-plan property prices increasing on average 15-20% in 2024 and this trend is expected to continue this year as well. The highest demand is for studios and one-bedroom units in waterfront projects near the Wynn Resort.
“We are witnessing exceptionally strong demand, particularly for beachfront properties. Properties close to the Wynn Resort are seeing significant interest, especially smaller studio and one-bedroom units. At the same time, there is a noticeable demand for commercial, retail spaces, as well as villas and townhouses in prime waterfront locations. However, the supply of these types of properties remains limited,” said Mr. Novikov.
Several key factors are expected to drive demand for real estate in RAK over the next few years. The population of the emirate is projected to nearly double, reaching 650,000 residents by 2030. Additionally, the rapid progress of the Wynn Resort construction is fueling excitement and interest in the area.
Ras Al Khaimah’s Economic Zone (RAKEZ) is also attracting entrepreneurs from around the world, boosting demand for both residential and commercial properties. RAKEZ achieved record growth in 2024, welcoming 13,141 new companies, which represents a 66% increase in registrations compared to 2023. Also, the emirate’s forward-thinking approach to cryptocurrency trading and blockchain technology is another factor contributing to its appeal.
While Marjan Island continues to capture much attention, other areas in RAK are also poised for significant growth, according to MPP. Areas such as Mina, Al Hamra and RAK Central are expected to see substantial development, offering high growth potential for real estate investors.
Mr. Novikov concluded, “The real estate market in RAK is set for dynamic growth and entering an exciting phase. Investors and homebuyers alike should be prepared for rising prices and increased competition for the limited available properties.”
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BNW Developments Sets New Benchmarks: 97 Taj Wellington Mews Residences Reserved Within Hours of Launch

Indian Hotels Company (IHCL) debuted Taj Wellington Mews on the picturesque Al Marjan Island, Ras Al-Khaimah in partnership with BNW Developments. The property witnessed 97 of its units reserved within the first 24 hours of its launch, making it among the UAE’s fastest-selling luxury projects to date.
The grand unveiling night at the World Trade Center, Dubai, was a celebration of heritage, design, and disruption. Hosted by Kris Fade, star of Dubai Bling, celebrated media personality, and beloved RJ, the evening was brimming with energy, entertainment, and meaningful moments. With insights into the project shared in an atmosphere of refined elegance, the event was elevated by a special performance from celebrated comedian Kenny Sebastian. The gathering also welcomed top industry experts from the UAE real estate landscape and over 60 elite broker agencies, further underscoring the significance of the occasion. The highlight of the evening was the ceremonial reveal by Mr. Ankur Aggarwal, Chairman and Founder of BNW Developments, and Dr. Vivek Anand Oberoi, Managing Director and Co-founder, lifting the drapes on a visionary partnership between Taj and BNW.
“This collaboration with Taj is the architectural articulation of BNW’s long-term vision. We are not in the business of building structures but in the pursuit of crafting legacies. Taj Wellington Mews stands as the first of many milestones that will redefine how luxury is experienced, owned, and remembered in the UAE. Partnering with a name as storied as Taj allows us to merge generational heritage with contemporary precision an alliance rooted in purpose, not just prestige,” shared Mr. Ankur Aggarwal, Chairman and Founder of BNW Developments.
Dr. Oberoi echoed, “Ras Al Khaimah is rapidly emerging as the nucleus of forward-thinking luxury and global investment appeal. With Taj Wellington Mews, we are curating an experience that embodies the very essence of timeless hospitality. This partnership with Taj allows us to infuse BNW’s design-forward philosophy with a legacy of Indian warmth and global distinction. As co-founders, our commitment is clear: to pioneer developments that are not only architecturally striking but also culturally resonant, emotionally enriching, and globally relevant.”
Within the first 24 hours of its launch, Taj Wellington Mews recorded an unprecedented 97 unit reservations, a feat not only for BNW Developments, but one that now stands among the UAE’s fastest-selling luxury projects to date. This momentum underscores the project’s significance as the first of many milestone ventures led by BNW Developments.
The development comprises a total of 342 ultra-luxury units, including 185 studio apartments, 117 one-bedroom apartments, 26 two-bedroom apartments, 8 three-bedroom apartments, and 6 retail units.
A vision carved in steel, stone, and legacy, Taj Wellington Mews encapsulates an unconventional design philosophy. The project features two interconnected towers elegantly curved over a circular podium, creating a skyline-defining silhouette on Al Marjan Island. Distinctive balconies, curated landscaping, and a harmonious blend of structure and subtlety embody Taj’s ethos of thoughtful luxury and BNW’s penchant for cutting-edge design.
A collective vision for refined living, set along the picturesque shoreline, Taj Wellington Mews forms part of a growing collection of ultra-luxury residences by the bay, a shared vision between two pioneers committed to redefining lifestyle experiences in the UAE.
A thriving investment hotspot, Ras Al Khaimah has rapidly emerged as one of the fastest-growing regions in the UAE. With global names like Wynn Resorts making their debut on Al Marjan Island, the area has seen a significant rise in demand, with projected rental yields reaching upwards of 8-14%, making it a lucrative choice for discerning investors.
As BNW Developments continues to push boundaries in luxury real estate, this historic collaboration with IHCL’s Taj marks the beginning of a transformative era, where curated lifestyles, heritage values, and architectural finesse converge. Taj Wellington Mews is not just a residence; it is a living testament to what happens when legacy meets innovation, and when a launch becomes a legacy in itself.
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Save Big at Al-Futtaim IKEA with Up to 75% off

Al-Futtaim IKEA is making home-makeovers more accessible and affordable with discounts ranging from 25% to 75% off a wide selection of products, available at all Al-Futtaim IKEA stores across the UAE, starting from April 24.

From bedroom essentials to stylish living furniture, kitchenware, bathroom décor, and more, now is the perfect time to revamp your home at unbeatable prices. Whether you’re furnishing a new space or simply looking to refresh your current one, Al-Futtaim IKEA’s sale period provides the ideal opportunity to save on quality, functional, and stylish pieces.
Don’t miss out! Visit your nearest Al-Futtaim IKEA store in the UAE, or shop online
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Richmind Brings Craig David to Dubai to Celebrate Launch of its Inaugural Project Designed by Zaha Hadid Architects

Richmind is set to host an exclusive, invite-only concert featuring Craig David, the global music icon in Dubai.
The special event will showcase Richmind’s highly anticipated inaugural project, masterfully designed by the world-renowned Zaha Hadid Architects at Al Marjan Island in Ras Al Khaimah.
The evening is expected to become more than a concert — it will be a curated celebration of Richmind’s passion for timeless architecture, global artistry, and cultural expression. The organization has a deep appreciation for art in every form and strongly propagates the value of patronage
Seamlessly blending innovation, design, and lifestyle, Richmind continues to position itself as a creative force at the crossroads of multiple disciplines.
“Our upcoming project isn’t just a structure – it’s a living, breathing statement of art and intent,” said Mohammad Rafiee, CEO of Richmind. “Bringing Craig David to Dubai for this occasion reflects our appreciation for global music and our ongoing support for local culture and the arts. We believe architecture should inspire and engage with its surroundings and its people — and this event embodies that belief.”
In the pursuit to support the local music community, Richmind is giving the opportunity to up-and-coming artists across the UAE, including singers, DJs, rappers, and musicians to participate in a competition for a chance to get selected as the opening act for Craig David’s Dubai performance. Enthusiasts have to submit a 60-second demo and share your story for a chance to not only win a performance slot on stage, warming up for Craig David at the launch event but also one-on-one mentoring experience with Craig David, professional studio time to develop their music and a whopping AED 30,000 cash prize to support their creative journey.
Craig David will perform to an exclusive audience at Richmind’s official project launch on 25th April at the CocoCola Arena from 5pm.
Set against the stunning backdrop of Al Marjan Island in Ras Al Khaimah, Richmind’s debut development is poised to become an architectural landmark. In collaboration with Zaha Hadid Architects — globally revered for their fluid, futuristic, and expressive designs — the project promises to elevate ultra-luxury living in the UAE.
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