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RAK Real Estate Market Poised to Skyrocket as Demand Outpaces Supply

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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.”

Home Integrator

BEYOND THE PRICE TAG

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Exclusive interview with Tahir Majithia, Real Estate Advisor and Founder of Prime Capital

An in-depth look at buying a home in the UAE across different luxury property segments. How are consumer patterns shifting between renting and purchasing, and what are the key considerations for buyers before they commit?

We are seeing two types of buyers at the moment. A lot of people who are new to the city prefer to rent for the first couple of years, until they have settled in and worked out where they actually want to live. Once they know the answer to that, they buy. The second group already knows Dubai well and is moving here, and they tend to arrive with a much clearer idea of what they are looking for.

What both groups have in common is that they want the best of the best, and that is true across every segment. Whether someone is buying a home at AED 5 million, AED 10 million or AED 15 million, they want the best for their money. Quality, design, layouts, facilities, amenities, all of it matters a lot today. There was a time when buyers didn’t really focus on these things and a standard product would do. Now, with the kind of money people are spending, they want something genuinely different. They want the wow factor, especially in the luxury segment.

What changes as you move up the price ladder is the definition of “best.” Around the AED 5 million mark, buyers are usually weighing up location, the reputation of the developer and how the home will hold its value if they decide to sell in a few years. By the time you get into the AED 10 to 15 million bracket and above, the conversation moves on to space, privacy, the quality of the finishing and views, and how well the building or community is actually managed once everyone has moved in.

That same expectation is now shaping the rental market too. We are seeing some very high ticket size rentals, even with the conflict going on in the region. The people who are still confident in this market and want to move here want to arrive somewhere they don’t have to do anything to, homes that are specced and fitted out to the best international standards. If it is something good, tenants are willing to spend serious money on rent, and the top of the market is now well into the millions a year.

The thing that decides it in the end is value. Prices have gone up, yes, but buyers today are smart and they know exactly what they are buying. Over the last few months in particular, people want good value for their money, so there is a lot of negotiation happening, especially given the current situation. But when the value is genuinely there, buyers move quickly.

My advice to anyone about to commit is to look past the headline price. Check what the service charges are and what they actually cover, because that cost stays with you every year. Look at the developer’s track record for delivering on time and to the standard they promised. Read the payment plan and handover terms properly. Ask how easily homes in that community resell, not just what they sell for. And add up the full cost of the transaction, not only the purchase price. Those are the things that decide whether a home still looks like a good decision five years later.

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NEVER NOT SUEDE: PUMA MIDDLE EAST LETS THE SUEDE BLOOM

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The Suede’s new era continues to blossom with the introduction of Suede Bloom, part of PUMA’s “Never Not Suede” campaign.

Following the return of the OG, this new release places the iconic silhouette back in the spotlight while celebrating the qualities that have defined the Suede since the very beginning.

One facet that has defined the Suede since its introduction in 1968 is its ability to reinvent itself alongside changing times, subcultures, and movements, all while remaining unequivocally itself. This latest release brings a unique touch to the Suede. Faux pearl detailing, interchangeable satin and frilled lace options, and soft colorways bring a refined femininity to the timeless silhouette.

Arriving in understated shades like “Powder Pink,” “Vintage Cream,” and “Black,” the release is joined with visuals that capture togetherness and individuality, pairing the Suede Bloom with whimsical styling that evokes spontaneity and lightness.

Bringing the spirit of Suede Bloom to life, PUMA Middle East has collaborated with talents including the Fawaz sisters Rania, Dania and Talia, alongside other style muses from the region. Each talent brings their own perspective and personal touch to the Suede Bloom, showcasing how the silhouette can be styled and interpreted in individual ways.

This new vision for the PUMA Suede is designed to be styled your way, while embracing the idea of blooming as both a seasonal shift and a form of personal expression.

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Inside ORLA: Beachfront Living, Composed by OMNIYAT

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ORLA, Dorchester Collection, Dubai is an iconic beachfront address bringing together exceptional design, private beach access and the legendary service of Dorchester Collection. With fewer than ten residences remaining, ORLA offers a rare opportunity to experience one of Dubai’s most distinguished waterfront destinations.

Residents enjoy an extraordinary suite of private amenities, including a 150-metre beach, infinity and lap pools, a wellness and spa retreat, fitness and yoga studios, private cinema, bowling alley and dedicated children’s spaces, complemented by the discreet, highly personalised service of Dorchester Collection.

ORLA Duplex Show Residence

An exceptional expression of beachfront living, the ORLA Duplex Show Residence unfolds across two levels, offering a remarkable sense of scale, privacy and effortless sophistication. A private lift provides direct access to the four-bedroom residence, while expansive living and entertaining spaces extend towards generous private terraces and a private pool overlooking the tranquil lagoons of Palm Jumeirah.

Crafted by OMNIYAT Atelier, the interiors bring together sculptural forms, refined natural materials, bespoke detailing and a curated selection of art, creating a layered residential experience where design, craftsmanship and indoor-outdoor living converge. Every element has been thoughtfully composed to create an atmosphere of timeless elegance, privacy and exclusivity.

ORLA Simplex Show Residence

Bathed in natural light and framed by panoramic views of the Arabian Gulf, the ORLA Simplex Show Residence unfolds across a single level, creating an effortless continuity between its interiors and the world beyond.

Accessed by private lift, the four-bedroom beachfront residence is distinguished by an impressive double-height living space, bringing exceptional volume and openness to the heart of the home. Crafted by OMNIYAT Atelier, sculptural forms, natural materials, bespoke detailing and a carefully curated collection of art come together throughout, while expansive living spaces extend towards a private terrace and pool.

Ocean horizons frame the residence, creating a profound connection to its beachfront setting and a serene expression of contemporary living.

For high-resolution Images: https://www.dropbox.com/t/qRxs5y7adDhAMbEM

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