Ras Al Khaimah is fast becoming the hottest destination in the United Arab Emirates for those looking for a grand adventure on a road less traveled, writes the online magazine of Christie’s International Real Estate, Luxury Defined, in a recently published article. The magazine believes that “Dubai, long the darling of the United Arab Emirates for its resorts, superlative shopping, and glamorous restaurants, may need to keep a sharp eye on the upstart that’s snapping at its heels. While the UAE’s northernmost emirate of Ras Al Khaimah may not yet be as famous as its neighbor to the south, great opportunities exist here.“
RAK, as it’s commonly known, has had a reputation for being a sleepy place, a weekend destination for UAE residents looking for a slower pace of life and less elevated accommodation. But Ras Al Khaimah is waking from its slumber, and it has ambitious plans.
Dating back to the late bronze age, Dhayah Fort offers a fascinating glimpse into the history of Ras Al Khaimah. The views from its hilltop site stretch as far as neighboring Oman.
Big brand luxury hoteliers are rushing to make their mark on RAK’s coastline. The emirate is already home to luxury resorts by Ritz-Carlton, Waldorf Astoria, and InterContinental, and a new Anantara is bringing Maldives-style overwater villas to the neighborhood.
International visitors are starting to get wise to the emirate’s charms, too. The first half of 2023 saw an impressive 14.8 percent jump in arrivals, with new daily flights direct from Doha on Qatar Airways. Additional routes are slated to launch in 2024.
Long-term economic growth promises attractive returns on investments
Raki Phillips, CEO of the Ras Al Khaimah Tourism Development Authority (RAKTDA) says: “One of the many reasons international companies choose Ras Al Khaimah is because it has a strong, resilient, and diversified economy, and a long-term growth environment offering attractive returns.”
Framed by the dramatic backdrop of the Al Hajar mountain range, the Suwaidi Pearls farm is located in the tranquil fishing village of Al Rams. Founded in 2004, and with sustainability as a focus, it is the first and only Arabian pearl farm in operation.
Jackie Johns, Managing Partner of Christie’s International Real Estate Dubai, sees RAK as a solid future investment opportunity. “International hotel brands setting up shop in Ras Al Khaimah have seen a sharp increase in tourism, and this is being matched by luxury residences that are already reaping rewards for their owners,” she says. Average prices per square foot rose by as much as 7.49 percent in 2023, with maximum rental ROIs reaching 11.61 percent. The current real estate demand in Dubai is not being matched by supply, which is likely to lead to additional spillover into RAK.
Superior Lifestyle
While Ras Al Khaimah is primarily an investment market at present, it’s also becoming a great place to live. Compared with Dubai and Abu Dhabi, RAK still has space and supply. While beachfront properties are likely to remain popular, the rocky Hajar Mountains provide a rugged backdrop for relaxed living, and new villa developments are coming to island locations. Prices are considerably more attractive in Ras Al Khaimah, too.
Inspired by Ras Al Khaimah? Find the ideal home in the emirate, and read more from the Spring/Summer 2024 issue of Christie’s International Real Estate magazine here.
