Luxury Real Estate Projects in Ras Al Khaimah: A Promising Market for Investors and Buyers.

Dubai: Melhem Al-Zubaidi

The Emirate of Ras Al Khaimah has become a distinctive magnet for resident real estate investors, citizens and foreigners alike, as it embraces a unique group of luxury residential properties, whether they are apartments, villas, penthouses and townhouses, as the emirate’s real estate is designed according to international standards to compete with the most luxurious real estate in the region. .

This comes as the UAE attracts qualitative projects and foreign investments, such as the “Wayne Al Marjan Island” project, which is to be developed at an investment cost of more than 14 billion dirhams, and other comprehensive hotel and development projects that raise the ceiling of competition to new levels.

Real estate projects are available in Ras Al Khaimah with luxurious standard specifications and competitive prices, in addition to projects that suit various segments, so that it is now full of many projects that meet the requirements of investors and buyers such as citizens, residents, and even foreigners.

Real estate sources, working in the real estate market in Ras Al Khaimah, confirmed that the emirate enjoys a strong demand for various types of residential, hotel and tourism products, and is considered one of the promising regional markets that herald a bright future that provides luxury and integrated life and attractive investment returns in light of the competitive prices of land, real estate and construction costs.

The advanced legislative environment and infrastructure encouraged real estate investment and development companies to enter the competition arena in the Ras Al Khaimah real estate market, where many companies launched qualitative and development projects to meet the growing demand and compensate the sector’s need in the emirate for units and real estate products. In short supply

In short supply
Khalid bin Kalban, Vice Chairman and Chief Executive Officer of the Dubai Investments Company, said: “The Ras Al Khaimah real estate market is one of the promising markets, and it ranks third in terms of value and transactions after the Dubai and Abu Dhabi markets, despite the lack of supply compared to the current demand. The emirate’s environment is witnessing, as the sector provides development projects and many residential and hotel products with the aim of investing or housing within a developed infrastructure and legislative structure, where land and real estate prices and construction costs are still competitive.

Bin Kalban explained, in statements over the phone with Al-Khaleej, that Ras Al-Khaimah has become an attractive environment for various segments of investors and capital, not only at the real estate sector level, but also in hospitality, as it attracts a large number of local and international visitors and tourists annually, which was reflected in a positive way. Positive on the general investment environment in the Emirate.

In terms of sales in “Dana Bay”, the vice-chairman and chief executive officer of the company revealed that the total sales of “Dubai Investments” in the project exceeded one billion dirhams, as 90% of the first and second phases of the residential villas in the project were sold. Recording deals of 40% of apartment sales before they are officially put on the market, which is scheduled for next week, pointing out that Dubai Investments is studying more opportunities in the emirate during the coming period.

Strong turnout

For his part, Sameh Al-Muhtadi, CEO of “Ras Al-Khaimah Real Estate”, said that during the first five months of 2023, the company exceeded the barrier of total sales for the entire year, in light of the strong demand for various real estate products in the emirate, whether by citizens or residents in addition to foreigners. , which prompts the company to proceed with its duty and activities to develop and implement more projects that will be announced soon, and strategic partnerships with world-famous brands will be revealed during the next few days. According to Sameh Al-Muhtadi, the company plans to launch new projects on the waterfront in the emirate during the current year to keep pace, and it includes new residential projects that will provide more than 2,500 units, varying between villas, townhouses and apartments, as well as two hotels within Hayat Island – Mina Al Arab in the Emirate of Ras Al Khaimah.

Al-Muhtadi explained that the company will announce the issuance of tenders for new projects and award them to the contracting companies that won construction contracts before the end of the year 2023, within the framework of the “Ras Al Khaimah Real Estate” determination to complete and deliver these projects to clients in record time.

The CEO of Ras Al Khaimah Real Estate said: “The real estate market in Ras Al Khaimah enjoys a very strong demand, and promises a very encouraging future in light of the growing demand for quality real estate products and meeting the interests of investors to own property in Ras Al Khaimah for housing or investment.”

«Aldar Real Estate»

In this context, Aldar Properties has strengthened its portfolio of hospitality and entertainment assets by acquiring the Rixos Bab Al Bahr Hotel in Ras Al Khaimah for an amount of 770 million dirhams, which raised the value of the company’s total investments in Ras Al Khaimah to 1.5 billion dirhams, which confirms the company’s confidence in various The sectors in the Emirate of Ras Al Khaimah, and now in the company’s portfolio «Al Hamra Mall» and additional development rights in the two properties.

As part of the acquisition of the Rixos Bab Al Bahr hotel, Aldar Investments will be able to develop 250,000 square feet of additional floor space for residential and commercial purposes.

Ras Al Khaimah is witnessing an increasing tourist demand, and this trend is expected to grow as the emirate continues to implement its strategy to be a leading regional destination in the field of environmentally friendly tourism by 2025.

Most notable projects

Ras Al Khaimah Real Estate Company announced the launch of the beachfront residential project, Bay Views, on Hayat Island in Mina Al Arab. It offers a range of studios and apartments consisting of 1-2 bedrooms with waterfront views, in addition to to entire floors for buyers of all nationalities. The project consists of two towers – “Bay Views South” and “Bay Views North”, of 14 and 17 floors, respectively.

Bay Views includes 344 units, and all units offered have been sold recently.

«Dana Bay»

Likewise, “Dana Bay” is an integrated beach community that contributes to setting new standards on Al Marjan Island for profitable investment in, with an investment value of one billion dirhams. The project extends over an area of ​​90,000 square meters with 40,000 square meters of beaches, and includes 188 villas, in addition to homes and villas overlooking the beach. The residential tower of the project also includes 107 apartments.

Dana Bay includes the Grand Millennium Hotel, which includes 300 rooms and many beach leisure facilities. The construction works of the hotel are expected to be completed by the first quarter of 2026. It is worth noting that the construction work has started in the first phase of the project, with the handover scheduled to take place in the first quarter of 2025.

“Mina Al Arab”

Within “Mina Al Arab” there are many projects under development, such as “Granada Villas” in the coastal area, and the existing “Flamingo Villas” project in itself, which includes residential villas with modern modern designs. And the “Marbella Villas” project, which provides luxury villas with sea views on Hayat Island.

Likewise, the “Malibu” project is located in “Mina Al Arab”, embracing a wide range of residential real estate in its various forms, available with various floor spaces.

Among the real estate projects is “North Bay Residence” in the heart of “Island of Life” and provides many amenities and venues for organizing events.

The Gateway Residences project also offers a number of elegant apartments, equipped with modern décor, on Hayat Island, which has a calm atmosphere, as it is the main water destination in the emirate.

In this context, the “Bermuda Villas” project includes residential villas with superior architectural designs, with floor spaces ranging from one room to 6 rooms and a hall, and some of these villas have sea coast views, all of which are available for sale or rent.

“Win Al Marjan Island” with 14.3 billion dirhams

Ras Al Khaimah is preparing for a giant project that will reshape the hospitality sector in the emirate, namely the “Wayne Al Marjan Island” project, which is being developed by “Wayne Resorts”, the global operator of luxury resorts, as an integrated resort at a cost of 14.3 billion dirhams. The beach resort takes inspiration from the serene seascapes of Al Marjan Island, an artificial archipelago made up of four islands.

“Win Al Marjan Island” will occupy a site that rises more than 1,000 feet (305 meters) above sea level, guaranteeing its guests stunning views of the azure waters of the Gulf, and will provide visitors with an exceptional experience that includes many options for shows and entertainment games. For its first project in the Middle East and North Africa region, Wynn Resorts will provide a calm, contemporary setting inspired by the surrounding seascape that will also resonate in the design of a world-class hotel.

The luxury of design for which the “Win Resorts” brand is famous is reflected in about 1,500 luxurious rooms, suites and villas.

Nobu Hotel and Residences

Ras Al Khaimah is preparing to launch a hotel, restaurant and residences bearing the “Nobu Hospitality” brand, on the beachfront of Al Marjan Island, where the “Invioria Development” company purchased an area of ​​​​the island’s beach, to develop the hotel and 300 residences under the signature of the famous “Nobu” brand in the world of restaurants and hospitality.

The huge project will be located on an area of ​​70,000 square meters, and includes a health facility and a spa with a swimming pool. As for the “Nobu” restaurant, it will offer gourmets inspiring dining experiences through a Japanese menu.

The Nobu Hotel on Marjan Island is the second Nobu hotel in the UAE. It is the latest addition to a growing portfolio of luxury beach hospitality destinations that welcome visitors to Ras Al Khaimah from all over the world in the heart of Al Marjan Island. It will play a major role in promoting the growth of the thriving hospitality sector in the emirate, and supports the Ras Al Khaimah government’s efforts to establish the emirate as a global tourism hub.

Anantara Mina Al Arab is the latest addition

The number of visitors to Ras Al Khaimah exceeded 1.13 million tourists in 2022, an increase of 15.6% compared to 2021, exceeding pre-pandemic levels.

It is expected to add 5,867 new hotel rooms in the emirate over the next few years, after reaching more than 8,000 rooms.

Ras Al Khaimah Real Estate Company is preparing to open the latest addition to its portfolio, the Anantara Mina Al Arab Hotel and Resort this year, following the opening of the InterContinental Ras Al Khaimah Mina Al Arab Resort and Spa last year.

The Anantara Resort is scheduled to open in the third quarter of 2023 and is located on Ras Al Khaimah Beach in the new Mina Al Arab area.

The resort features 174 Maldivian-style rooms, suites and overwater villas.