UAE: Ras Al Khaimah real estate transactions surge 25,000% in 7 years
Ras Al Khaimah’s real estate sector has experienced remarkable expansion over the past seven years, with transaction volumes skyrocketing by nearly 250 times (or 25,000%). The latest data from the Ras Al Khaimah Statistics Centre highlights the emirate’s rising prominence as a key real estate investment destination.
In June 2024, the total value of real estate transactions reached an impressive Dh2.53 billion, a significant jump from Dh10.1 million recorded in June 2017. Similarly, mortgage values saw a staggering rise, climbing to Dh3.47 billion in July 2024 from just Dh15.8 million in July 2017—an extraordinary increase of 21,849%. This sharp growth underscores the increasing confidence of investors and the transformation of Ras Al Khaimah into a thriving real estate hub.
Factors Driving Market Expansion
Several key developments have contributed to this surge in real estate activity. The expansion of Ras Al Khaimah International Airport, major investments in hospitality and entertainment, and a focus on sustainable urban planning have all played a role in attracting investors.
Mortgage activity has also seen substantial growth, which Cina believes is a reflection of a maturing market. “Lenders are more engaged than ever, and this increase in financing indicates that more developments have reached completion. Just a few years ago, there were fewer projects, but today, the landscape has changed significantly,” he added.
A New Era for Real Estate Investment
Andrei Charapenak, CEO of Major Developers, emphasized that Ras Al Khaimah has transitioned from an emerging market into an established investment destination. “The surge in transactions and mortgage values speaks volumes about the emirate’s economic development, supported by strong leadership and ambitious infrastructure projects,” he stated.
Charapenak also highlighted changing buyer preferences. “We’re witnessing a shift in investor sentiment—luxury, sustainability, and integrated lifestyle developments are now major factors influencing purchasing decisions. The market is evolving, and new projects are aligning with global standards to attract both local and international buyers.”
With ongoing developments and investor-friendly policies, Ras Al Khaimah is positioning itself as a top choice for real estate investment. As the emirate continues to grow, its real estate sector is expected to play a significant role in shaping its economic future.
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Source : Khaleej Times
