Turns out there is life beyond Dubai when it comes to UAE luxury real estate. Ras Al Khaimah (RAK) has rapidly emerged as the new hot destination for high-net-worth property investors. If youโve got the cash, the exclusivity on offer here increasingly rivals its glitzier neighbor.
Ras Al Khaimah Luxury Demand Sizzles: Oceano Project 70% Sold Years Before Completion
Developers say demand for top-tier Ras Al Khaimah residences remains red-hot. Luxe Developersโ Oceano project on Al Marjan Island is already 70% sold โ and still three years from completion. Weโre talking one-bed apartments starting at AED2.6 million, up to AED 21 million penthouses.
Dubai Prices Soar 50%; RAK Offers Better Value and Top-Tier Luxury Credentials
Buyers are undoubtedly cashing in on Dubaiโs overheated market. Prices there soared almost 50% this past year. Ras Al Khaimah offers much better value right now. And make no mistake โ with amenities like infinity pools, private beaches, and cigar lounges, Oceanoโs luxury credentials are top-notch.
Al Marjan Island Prices Climb 5%, Fueled by Wynn Resort Prospect and Emaarโs Luxury Entry
Al Marjan Island saw property prices climb nearly 5% amid this investor frenzy. The prospect of an upcoming Wynn Resort has also whetted buyersโ appetites. Luxe Developers boasts Oceanoโs unique design already competes with or exceeds anything in the UAE and now Emaar Property has launched Emaar Address Residences Phase 2 in Al Marjan Island to address the expectations of the luxury home seekers.
Ras Al Khaimah Emerges as the Exclusive Alternative to โCrazyโ Dubai
Ras Al Khaimah is wider, quieter, and much less built up than Dubai. For the ultra-rich, after both comfort and discretion, the emirate ticks all the boxes. As one property agent put it: โDubaiโs crazy now. Everyone whoโs anyone is looking towards RAK โ itโs the next big thing for exclusive developments.โ
RAKโs โNext Big Thingโ Prophecy Fueled by Abundant Vacant Land Advantage
Indeed, insiders suggest this โnext big thingโ tag could soon become a self-fulfilling prophecy. RAK has advantages most would-be luxury hubs lack, not least swathes of vacant land. The stars seem aligned for major long-term growth. Where Dubai leads, RAK may now follow on its luxury terms.
