The emirate's population, which currently stands at about 400,000, is projected to grow to 650,000 by 2030, creating demand for about 45,000 additional housing units.
Global players such as Emaar, Aldar and Ellington have entered the Ras al Khaimah market. They are implementing projects along with major local developers: Marjan, Al Hamra and RAK Properties.
At the center of the region's development is Al Marjan Island, where elite hotel brands are represented, including Wynn, JW Marriott, Nobu, Missoni and The Address. The first casino in the UAE is under construction on the island, as well as a large office, shopping and entertainment center, RAK Central. The developer Al Hamra is known for projects such as Al Hamra Village, Waldorf Astoria Residences, Falcon Island, Al Hamra Waterfront and Manar Mall (the largest shopping mall in the emirate).
RAK Properties continues to implement the Mina project, which included the construction of the Anantara Mina Ras Al Khaimah and InterContinental Ras Al Khaimah hotels.
Nikki Beach, Staybridge Suites and the planned Four Seasons hotels will also appear on the territory.
Real estate near the casino in Ras al Khaimah: more expensive tomorrow
Source: Gulf Business
