The value of real estate sales in Ras Al Khaimah surged by 85% year-on-year in 2024, reaching over AED 6 billion through 2,985 transactions.
The total value of real estate transactions recorded in the land and property sector at the Ras Al Khaimah Municipality exceeded AED 15 billion last year, marking a 117% growth compared to the same period in 2023.
According to the UAE News Agency (WAM), a total of 1,224 mortgage transactions were completed, with contract values exceeding AED 4 billion, while 845 waiver transactions were recorded, with market contract values surpassing AED 3 billion.
Al Marjan Island topped the list of key real estate areas in the emirate, with sales exceeding AED 4 billion in 2024, compared to AED 1 billion in 2023, making it the most active area. High sales values were also recorded in Al Riffa, Al Jazirah Al Hamra, and Al Hamra Village.
The real estate market in Ras Al Khaimah witnessed a significant rise in the value of industrial land sales, which grew by 1,226% in 2024 compared to the previous year. Meanwhile, mixed-use residential-commercial land sales saw a 217% increase over the same period, reflecting growing demand for these types of properties in the emirate.
Real estate transactions are expected to continue their growth trajectory in the coming years, supporting Ras Al Khaimah’s vision to become one of the most attractive destinations for real estate investment.
photo credit: constructionweekonline.com
