Research by Colliers, conducted on behalf of The Luxe Developers, has revealed that real estate sales transactions in Ras Al Khaomah totalled AED 2.1 billion in 2022, a 26% increase from the previous year. Looking ahead, several areas in Ras Al Khaimah, including Al Marjan Island, are expected to see price jumps in the next 12 months, according to proptech company, Realiste.

Major investments from companies such as Nobu Hotel, Aldar, Dubai Investments and Abu Dhabi National Hotels have underscored the popularity of the market.

Ras Al Khaimah’s real estate is providing a lucrative climate for property developers according to research from Colliers. According to the Colliers’ study, The Wynn Al Marjan Island, the region’s first integrated resort, can not only accelerate the development of RAK as a tourist destination but also create opportunities for high-end branded residences and lifestyle concepts. Ras Al Khaimah Tourism and Development Authority also recently reported growth in tourism-related revenue.

We explore some of the recent projects in the emirate and the increasing opportunities it offers in real estate.

Almal Capital Investments unveils luxury developments in RAK

Almal Capital Investments, a Dubai-based investment and development company, backed by substantial international experience and focusing on hospitality and residential projects, recently invested in two new luxury developments in La Mer Island and Al Marjan Island, located in Dubai and Ras Al-Khaimah, respectively. 

In Ras Al-Khaimah, Almal Capital Investments has entered a strategic partnership with Al Marjan Island, investing US$150 million to develop a 400-key entertainment hotel. Set against the picturesque backdrop of the Arabian Peninsula near Las Vegas’ famed Wynn Resort, which is also under development, Al Marjan Island is Ras Al-Khaimah’s premier destination for entertainment and luxury hospitality.

The pre-concept of this upcoming property was created by SSH Design, an internationally acclaimed architecture firm. Almal Capital Investments chose this venture after a feasibility study conducted in collaboration with global real estate service CBRE, which underscores the company’s commitment to informed decision-making and strategic approach to maximise investment returns.

With these two major real estate projects already underway, Almal Capital Investment aims to redefine luxury hospitality and upscale living by adding an innovative touch and utilising its diverse set of expertise. The company’s strategic approach, driven by data-backed planning and up-to-date studies, aligns with its vision to increase investment returns and create long-term value for residents.

Missoni unveils its first branded residences in Ras Al Khaimah on Al Marjan Island

Missoni unveiled its first branded residences in Ras Al Khaimah on Al Marjan Island, Moonstone Interiors by Missoni. Known for its iconic colour palettes and zigzag patterns, Missoni is renowned for its ready to wear, homewares collection and craftsmanship expertise, signatures that will be woven into the fabric of the Moonstone Interiors by Missoni residences.

In partnership with Durar Group, Fortune 5, and OCTA Develop, this luxury residential project is expected to be completed by the end of 2026. 

“The inspiration for the residential project stems from a passion for art, culture, and nature, which Missoni has always embodied. Iconic elements of Missoni's style blend harmoniously with details inspired by natural beauty, creating a unique and refined environment. We wanted to create an original experience where natural light merges with interior design, introducing a harmonious synergy between living spaces and the grandeur of the seascape. Reflective and transparent surfaces have been strategically integrated to amplify natural light, creating a kaleidoscopic effect that dances through the spaces,” said Alberto Caliri, creative director of Missoni home collection.

Livio Proli, CEO of Missoni said: “We are delighted to be working with OCTA Develop on this new interior design project in Ras Al Khaimah.”

Marjan welcomes third Hilton property on Ras Al Khaimah’s Al Marjan Island 

Marjan, developer of freehold properties in Ras Al Khaimah, announced a new landmark backed by Hilton on Al Marjan Island, one of the Northern Emirate’s premium tourism, business and investment destinations. The project, consisting of a 5- star hotel and exclusive branded residences, will be built by M Hospitality on the upscale Al Marjan Island.

This is the third Hilton property to be brought to Al Marjan Island by M Hospitality, which has delivered successful projects including the world’s largest Hampton by Hilton.

Arch. Abdulla Al Abdouli, CEO, Marjan, said, “The new property reinforces Ras Al Khaimah’s growing stature as a leading international tourism, business and investment destination and is a testament to Al Marjan Island’s reputation as an exceptional living space for both homeowners and investors who are raising the bar in the hospitality sector.”

Mohammed Ruqait, Chairman of M Hospitality, said, “Through this project, we promise to provide the best design through which we pledged to create a design that will be an example of excellence on Al Marjan Island. The meticulous design, strategic location and commitment to sustainability underscore our goal of exceeding the highest standards of hospitality in Ras Al Khaimah.”

RAK Hospitality Holding unveils The Ritz-Carlton Residences in Al Wadi Desert

The Ritz-Carlton Residences is an exquisite collection of villas situated amidst the captivating Al Wadi desert within the sprawling 1,235-acre Al Wadi nature reserve.

The development presents a limited section of luxurious villas boasting an unparalleled setting where the terracotta dunes extend their gaze towards the Hajar mountains. The villas promise an opulent five-star living experience against a backdrop of breath-taking natural splendour with each home meticulously designed to embrace the beauty of the desert, offering residents magnificent views from private terraces and the indulgence of a private pool.

Alison Grinnell, CEO of RAK Hospitality Holding, stated, “The exclusive and bespoke residences will offer an authentic living experience in the pristine surroundings of the Al Wadi Desert, and further position Ras Al Khaimah as a leading international leisure destination.”

The Al Wadi desert is a remarkably unique and serene setting, surrounded by expansive mountainous terrains imbued with rich local culture, offering an idyllic escape from urban hustle. Designed to seamlessly blend with the pristine surroundings, these residences exude a rich, earthy palette that compliments the desert’s natural hues. Specifically designed private terraces offer residents breath taking views of the desert, seamlessly integrating the homes with the natural landscape.

The Luxe Developers

The Luxe Developers launched their debut project, Oceano, in Ras Al Khaimah earlier this year and is due for completion by Q3 2026. The twin-tower waterfront development, designed by Dewan Architects + Engineers, is located on a unique corner plot on the iconic Al Marjan Island and spread across a Built-Up Area (BUA) of 79,000 sqm.

The Luxe Developers is a  real estate development firm specialising in crafting extraordinary spaces with opulent interiors.

At The Luxe Developers, the company believes that exceptional living spaces can inspire and transform lives and are passionate about creating architectural marvels that redefine the concept of luxury and provide an unmatched living experience with a commitment to excellence and attention to detail that ensures every project the company undertakes sets a new standard in urban living.

Shubam Aggarwal, Chairman and Co-owner The Luxe Developers, said, “We are highly encouraged by the latest figures emerging from both the real estate and tourism sectors in Ras Al Khaimah. The upward trend in these markets is reflected in the strong interest that we have received for our flagship Oceano project, and we’re particularly buoyed by the outlook for 2024.

“Not only are our buyers attracted to the development because of the vast array of amenities and the private location, which offers residents privacy and seclusion, they are also being drawn by the boom being witnessed in Ras Al Khaimah with investors buying property as both their primary home or using it as a second home as a base when visiting the UAE.”

Siddharta Banerji, Managing Director and Co-owner, The Luxe Developers commented: “Such has been the interest in Oceano, we have been busy identifying and developing the latest addition to our portfolio, which we will launch in 2024. We will look to do something completely different to Oceano, but one thing we are committed to delivering throughout all our projects is a sense of individualism, unwavering attention to detail and the utmost in quality to deliver a luxurious living experience.”

From incredible attention to detail and sourcing the finest materials to seeking out the world’s most skilled artisans and handpicking the best-in-class architects and designers, the company’s vision is to deliver spaces that elevate the human experience with the belief that extraordinary quality and luxury craftsmanship elevates every living moment.