Today's Edition
MAYS IBRAHIM (ABU DHABI)
Ras Al Khaimah’s residential property market continued to grow in the first half of 2026 defying regional geopolitical and economic headwinds, according to CBRE.
Its latest market report for the first half of 2026 shows that the emirate’s apartment prices rose 18% year-on-year to Dh2,298 per square foot.
Villa prices increased 7.3% over the same period, while ready-market apartment and villa values rose 11% and 10% respectively, highlighting continued demand for residential property in the emirate.
The strongest growth was recorded in established waterfront communities, with apartment values on Al Marjan Island increasing 23.1% year-on-year and those in Al Hamra rising 14.7%.
CBRE said pricing and absorption had moderated since the end of February, but the market’s year-on-year performance remained positive, supported by investor demand, major development activity and sustained interest from investors, developers and visitors.
Rental demand also remained strong, with apartment rents rising 14.3% year-on-year, led by growth in Mina Al Arab and Al Marjan Island.
The emirate recorded several high-value residential transactions during the first half of the year, including the sale of the Sky Palace at Waldorf Astoria Residences for $35.4 million, the highest-value residential transaction recorded in Ras Al Khaimah, according to CBRE.
The report said the residential market is set for a substantial expansion in supply, with more than 34,000 units expected to be delivered between 2026 and 2030.
About 10,000 are expected to be branded residences, reflecting growing developer interest in internationally recognised luxury brands.
Major announcements during the period included The Strand and Lunara by RAK Properties, the Dh25 billion Evermore masterplan by Beyond Developments and Karl Lagerfeld Beach Residences on Al Marjan Island.
Ras Al Khaimah continues to attract investment and business activity despite weaker regional conditions.
During the first half of 2026, the RAK Chamber of Commerce and Industry recorded Dh771.5 million in new investment capital across 967 newly registered establishments, attracting 1,399 investors from 68 nationalities and supporting an expected 2,449 jobs.
The emirate’s tourism sector also recorded a record 670,400 hotel visitors during the first half, up 2.7% year-on-year, although hotel operating performance softened.
Occupancy averaged 49%, while revenue per available room fell 28.6% to Dh348.
Average daily rates, however, rose 5.2% to Dh705.60, while hotels generated more than Dh606 million in total revenue during the period.
CBRE said Ras Al Khaimah’s longer-term growth prospects remain supported by a substantial development pipeline.
More than 8,500 hotel keys are planned between 2027 and 2030, with more than 80% of future supply in the five-star category and nearly two-thirds located on Al Marjan Island.
The $5.1 billion Wynn Al Marjan Island integrated resort, meanwhile, is now expected to open in September 2027, adding to the emirate’s pipeline of tourism and real estate projects.
