Seasoned real estate investors have always had an eye on the United Arab Emirates. For years, Dubai and Abu Dhabi have been the undisputed champions of luxury real estate, with their iconic skylines, world-class amenities, and myriad of five-star hotels. However, we’ve recently seen investors looking beyond these traditional hubs and increasingly drawn to Ras Al Khaimah (RAK).
The emirate has been growing in prominence for the last decade thanks to the strength of its tourism offering, which has seen visitors increase year-on-year, a government-directed business-friendly environment, its commitment to infrastructure development, and, more recently, its burgeoning ultra-luxurious real estate offering. These factors make it easy to see why savvy investors are paying attention.
But don’t just take my word for it. Many analysts believe property prices will rise further, and in some instances by up to 50%, with the Wynn providing the catalyst for continued growth.
A study by Realiste, a Dubai-based AI-driven proptech company, has outlined the positive impact of casinos in the USA and gambling zones in Macau on nearby property prices. The report revealed casinos serve as catalysts for economic development, driving up the value of local real estate through increased demand and investment, with the Wynn Resort expected to significantly boost the local economy by attracting tourists, creating job opportunities, and promoting industry growth.
Furthermore, a recent Knight Frank report has revealed that an estimated US$388.5 million in private capital is poised to move into the RAK property market, underscoring how quickly RAK’s appeal has grown globally both as a tourist destination and a property investment location.
A significant contributor to RAK’s new-found position globally is the anticipated US$3.9 billion gaming and integrated Wynn Al Marjan resort, which is due to open in early 2027. The “must-see” tourism destination will feature approximately 1,500 rooms, suites, and villas, offering a gaming area, several restaurants, an events centre, and a theatre, amongst other entertainment options.
As a pioneer of ultra-luxury living on Al Marjan Island, I’m delighted to say The Luxe Developers is leading the way. We have made headlines recently with the official launch of RAKs most expensive residences, The Celest and The Stellar, valued at over AED90 million each and forming a key component of our exclusive Oceano development. This project has set new standards for luxury living on Al Marjan and has had a major impact on the real estate market in RAK.
Catering to the rising demand for high-end real estate, driven by the influx of ultra-high-net-worth individuals (UHNWI) moving to the emirate, the residences are setting a new standard for luxury living. They offer amenities such as a spa, sauna, Hammam, private pool, snow room, state-of-the-art gym, home theatre, and dedicated office space, all meticulously designed to cater to the most discerning tastes.
Each residence also boasts a sprawling 4,504 sqft terrace with a uniquely designed infinity pool, which provides breathtaking views and unparalleled tranquillity. The icing on the cake is the proximity to the Wynn Al Marjan resort, which is just two minutes away, further elevating the appeal for discerning investors.
It’s not just unique amenities that differentiate an ultra-luxurious property; several factors must be considered. One example is revolutionising luxury living by implementing state-of-the-art automation technology – ensuring residents enjoy the best technological advancements while experiencing unparalleled comfort and convenience.
Privacy and security is another essential factor. Systems that provide real-time monitoring and alerts ensuring residents feel safe and secure, ranging from voice-controlled assistants to seamless device integration, are imperative. By constantly pushing the boundaries of innovation, we can set a new standard for luxury living.
Our decision to launch these properties is a strategic response to the increased demand for ultra-luxury properties in Ras Al Khaimah. The region has become a coveted destination for affluent buyers seeking exclusivity, privacy, and unparalleled luxury underscoring our market awareness and commitment to meeting the needs of discerning buyers.
RAK’s real estate market has been quietly evolving, and today, it offers a level of ultra-luxury that sets it apart from its more famous neighbours. As more luxury developments come to fruition and RAK’s reputation as a premium destination grows, I believe we will see an even greater influx of high-net-worth individuals and investors eager to be part of this exciting journey.
RAK is undoubtedly the place to watch for investors seeking new opportunities in a market that combines natural beauty, opulent living, and strong growth potential. As someone who has witnessed the rise of Dubai and Abu Dhabi, I am confident that RAK is poised to become the next big thing in the world of luxury real estate.
