When mentioning the United Arab Emirates (UAE), the first association is Dubai. The city is a pioneer in a number of segments of the real estate market. It offers not only some of the largest buildings in each of the property segments, but also luxury that most people have never heard of.
In reality, however, the luxury of the UAE is not limited to what can be found on the Dubai market. An example of this is Ras al-Khaimah. Located in the northern part of the country, the emirate attracts people from all over the world with its nature, history (ed. note. there are archaeological finds showing settlements from the Bronze Age - 3000 BC) and rapidly growing tourism. Another advantage is the fact that the emirate, which last joined the UAE in 1972, borders Oman and the Persian Gulf.
Proof of Ras al-Khaimah's prosperity is the real estate sector, which has been booming in recent years. This is mainly due to investor regulations, well-developed infrastructure and the entry of both internationally renowned developers (Emaar, Aldar, Ellington) and local leaders (Marjan, Al Hamra, RAK Properties).
The volume of real estate transactions in Dubai has increased by almost 2,500% in the last 7 years, according to data from the Ras al-Khaimah Statistics Center. Unprecedented growth!
A record transaction volume of USD 4.08 billion was reached in 2024, which is 118% more than USD 1.88 billion in 2023.
In recent years, sales and property prices in Ras Al Khaimah have soared thanks to a wave of projects in the hospitality, retail and residential sectors.
In 2022 alone, the average property price increased by 30%, driven by the announcement of Wynn Resort and an expected 55% population growth by 2030. The emirate is currently home to 500,000 people.
Ras Al Khaimah has seen significant real estate growth over the past decade, encompassing areas such as Al Hamra, Mina Al Arab and Al Marjan Island.
Al Marjan Island is also driving the transformation of Ras Al Khaimah's real estate market. It is home to some of the most sought-after waterfront properties in the UAE, as investors look for high rental yields ahead of the grand opening of Wynn Resort.
Developer Marjan is building an ambitious project - RAK Central district. This is a mixed-use hub that is set to become the first Class "A" business cluster in the northern emirates.
The emirate is expected to see significant growth in housing construction: 14,148 new housing projects are planned to be completed between 2026 and 2029. Of these, 5,604 are in branded residential complexes, which represents 40%.
The region is preparing for a further increase in prices. Analysts do not exclude that prices on the secondary real estate market may exceed 10,000 USD/sq m by 2030.
Detailed statistics on average property prices in Bulgaria by cities and neighborhoods can be seen at imot.bg