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Luxury Buyers Flock to Ras Al Khaimah as “Next Big Thing”

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 you’ve got the cash, the exclusivity on offer here increasingly rivals its glitzier neighbor.

Developers say demand for top-tier Ras Al Khaimah residences remains red-hot. Luxe Developers’ Oceano project on Al Marjan Island is already 70% sold – and still three years from completion. We’re talking one-bed apartments starting at AED2.6 million, up to AED 21 million penthouses.

Buyers are undoubtedly cashing in on Dubai’s overheated market. Prices there soared almost 50% this past year. Ras Al Khaimah offers much better value right now. And make no mistake – with amenities like infinity pools, private beaches, and cigar lounges, Oceano’s luxury credentials are top-notch.

Al Marjan Island saw property prices climb nearly 5% amid this investor frenzy. The prospect of an upcoming Wynn Resort has also whetted buyers’ appetites. Luxe Developers boasts Oceano’s 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 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: “Dubai’s crazy now. Everyone who’s anyone is looking towards RAK – it’s the next big thing for exclusive developments.”

Indeed, insiders suggest this “next big thing” 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.

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