Ras Al Khaimah, a northern emirate in the UAE, is emerging as a popular destination for expatriates and home investors looking for beachfront properties at more affordable prices compared to other sea-facing locations in the country. Particularly, Al Marjan Island has witnessed significant growth in its property market, especially after the announcement of the launch of gaming resort Wynn Al Marjan, set to open in 2027. Properties in projects on Al Marjan Island are selling out quickly, attracting buyers looking for holiday homes in a more budget-friendly location.
According to Amira Sajwani, managing director at Damac Properties, Ras Al Khaimah offers a different type of product for individuals seeking holiday homes and beach destinations. The prices for beachfront properties in Ras Al Khaimah are considerably lower than those in Dubai, making it an attractive second option for those interested in a second home in the UAE. The recent launch of projects on Al Marjan Island, such as Shoreline by Damac, has seen a high demand, with units selling out rapidly due to their prime location and luxurious amenities.
The northern emirate’s property market has seen a surge in interest, with Ras Al Khaimah being recognized as the world’s fourth-best city for expatriates to live and work. The high living standards and job opportunities in the emirate contribute to its appeal among expatriates and home investors. With the upcoming development of Wynn Resort in Ras Al Khaimah, the market is expected to continue booming, attracting both local and international buyers looking for investment opportunities in the region.
Damac Properties, Dubai’s largest private developer, has expanded its portfolio to include projects in Ras Al Khaimah, such as the Shoreline on Al Marjan Island. The branded beachfront residence offers a range of luxury apartments and duplexes with direct beach access and top-tier amenities. With almost 80% of units in the project already sold out, Damac Properties is on track to fully sell out the project within a few days, showcasing the high demand for beachfront properties in Ras Al Khaimah.
In addition to its projects in Ras Al Khaimah, Damac Properties has plans to launch new developments in Dubai, including buildings in the Riverside Dubai project and apartments in the Damac Hills community. The developer has seen significant returns on investment and rental yields in its Dubai projects, with investors benefiting from up to 80% return on investment and 8-10% rental yield. Dubai’s real estate market continues to thrive, attracting investors with its global city status, security, and growth opportunities.
Looking ahead, Damac Properties is also planning to expand internationally by launching its first residential project in the US, specifically in Miami. The developer’s success in Dubai and Ras Al Khaimah positions it as a key player in the global real estate market, offering investors the opportunity to diversify their portfolios and benefit from high returns on investment. With the growing demand for luxury properties in desirable locations, such as beachfront properties in Ras Al Khaimah, Damac Properties remains committed to providing exceptional real estate opportunities for investors worldwide.
