Ras Al Khaimah, fondly known as RAK, is an emirate in the UAE that has huge potential in terms of real estate developments. Big property developers such as Emaar have already staked a claim in the RAK property market with a high-end hotel and serviced apartment venture in the emirate. Other developers are now following suit by investing and introducing various property developments in RAK. These RAK projects feature some amazing residential and leisure destinations in the emirate bringing new interest in the real estate market in RAK for visitors and investors alike.
the hottest upcoming Rak projects
The introduction of the following property developments in RAK is providing numerous opportunities to rent and buy properties in RAK. These RAK projects are also contributing to the tourism of the emirate, which in turn contribute to the growth of the emirate. Let’s take a look at what this buzzing emirate has to offer.
Al Marjan Island
When talking about mega RAK projects, Al Marjan Island is an obvious place to start. The Al Marjan Island is Ras Al Khaimah’s first man-made island project in the style of Palm Jumeirah or the World Islands in Dubai. It is slated to offer 1,500 hotels and 2,000 homes. The most recent announcement of upcoming real estate developments in RAK’s Marjan Islands is by Emaar. The property developer will be constructing an Address hotel which will feature 249 rooms – the first expansion of the Address brand into Ras Al Khaimah. Apart from hotels, Emaar has also planned to build mixed-use properties in RAK’s Al Marjan Island, featuring high-end residential, hospitality and retail outlets.
Apart from Emaar, there are various other developers offering premium properties in RAK to rent and buy. Popular for its apartment complexes, those looking at apartments for rent on Al Marjan Island will find a mix of studios, 1 and 2-bedroom flats, with 1-bedroom studios and apartments starting at AED 22k, and 2-bedroom apartments start at AED 46k. Those looking at apartments for sale in Al Marjan Island can expect prices that start at AED 295k for studios, 425k for 1-bedroom apartments and AED 600k for 2-beds.
Mina Al Arab
Our next RAK project to watch out for is the Mina Al Arab. This waterfront development was launched by RAK Properties, who are considered among the largest property developers in the UAE. The AED 5B Mina Al Arab development is slated to become the new social and entertainment hub of Ras Al Khaimah. Divided into six distinct districts, Mina Al Arab offers residents world-class amenities and residential villas, townhouses and apartment for rent and sale.
Homes in the Mina Al Arab area provide an escape from the stresses of city living. Those looking at renting villas in Mina Al Arab can find 2, 3 and 4-bedroom villas, with rents starting at AED 70k, AED 85k and AED 110k respectively. Those looking to buy a villa here will find 3-bedroom villas with prices starting at AED 1.3M. If you are looking to rent apartments in Mina Al Arab, studios, 1 and 2-bedroom flats are offered for AED 22k, AED 35k and AED 52k respectively. Those looking to buy an apartment in Mina Al Arab can expect prices starting at AED 240k for studios, AED 360k for 1-bed apartments, and AED 700k for 2-bedroom apartments.
The real estate market in RAK is brimming with waterfront and island developments. The Hayat Island, which is one of the two islands comprising the Mina Al Arab, is next on our list of upcoming RAK developments. Upon completion, the Island will feature a mix of leisure, entertainment and retail outlets, as well as some of the best residential properties in RAK, which range from serviced and waterfront apartments to villas and townhouses with private beach access. Adding to this, the island features international 5-star and 4-star resorts, a shopping mall, and al fresco restaurants along the beach, which will serve delicacies from all around the world.
The Hayat Island is one of the RAK projects that will open up countless investment opportunities in the RAK property market. The island will be fully integrated with sustainability at its foundation. With some of the best food, architecture, promenades, parks, playgrounds and event spaces – the island will cater to both families and individuals.
The Gateway Residences is the final mention on our roundup of upcoming projects in RAK. Also located within the Mina Al Arab area, this development will have a collection of residential complexes that feature 1 and 2-bedroom apartments with breathtaking waterfront views. The apartments here will be fitted with modern fixtures and will adorn an urban look across the waterfront location. The Gateway Residences is another project in RAK by master developer RAK Properties which will feature a community with a lot of green spaces between its residential homes.
These RAK projects have sparked the interest of residents from across the UAE, with many considering renting houses in RAK even though they work in Dubai and other emirates. Living in Ras Al Khaimah allows residents to own a lovely big house by the sea for the same price as an apartment in the Dubai Marina. Renting a 1-bedroom apartment in Dubai Marina will cost a minimum of AED 52k yearly, whereas, residents can rent a 2-bedroom flat in RAK, with breathtaking sea-views, at the same price. Investing in Ras Al Khaimah also follows a similar trend.
That’s all for our roundup of the top upcoming RAK developments to look out for if you are thinking of investing in the RAK property market. If you are going to visit Ras Al Khaimah soon, make sure to visit these amazing places in RAK and let us know in the comments section which one of these projects in RAK you found the most interesting.