The Emergence of Ras Al Khaimah

The emirate is quickly becoming a premier tourist and real estate destination, with new launches such as the Wynn Al Marjan Island expected to be a world-class entertainment and gaming destination.

Ras Al Khaimah is rapidly becoming one of the U.A.E.’s most exciting cities, particularly when it comes to tourism. Its current state is defined by wondrous mountains, including Jebel Jais, the highest peak in the U.A.E, as well as pristine beaches such as Flamingo Beach. The northernmost emirate is projected to attract 5.5 million visitors by 2030, which is set to be achieved by upcoming branded hotel and resort launches. This target looks highly achievable given recent statistics that have been collected by trusted experts.

Increase in visitors in H1 2023 compared to H1 2022

Increase in average visitor length of stay

1.13 million
Guests who stayed overnight in hotels in Ras Al Khaimah in 2022

60% Expected increase in Ras Al Khaimah’s population in less than seven years

The rapid development and increasing demand for Ras Al Khaimah’s attractions have significantly impacted its real estate market. In the beginning months of 2023, demand for property in the emirate soared, leading to a substantial rise in average prices per square foot, which escalated by an impressive 7.49%. This increase in price is undoubtedly a testament to the region's growing appeal, drawing both local and international investors seeking lucrative opportunities. Moreover, the rental market experienced a remarkable boost, with maximum rental Return on Investment (ROI) reaching an astounding 11.61%. This notable increase in ROI underscores the emirate’s attractiveness as an investment hub, promising high returns for those investing and owning. As Ras Al Khaimah continues to enhance its traditional attractions, pristine beaches and landmarks, the market for real estate is likely to remain bright, offering a robust platform for economic growth and investment opportunities in the future.

Ras Al Khaimah has seen a tremendous change in the last several years, going from being a local vacation spot to a thriving centre for foreign travel. This expansion in tourism, especially from Russia, the U.K. and India, is not a coincidence. Rather, it is the outcome of a deliberate combination of the emirate’s many recently renovated and redesigned sites with its long-standing cultural and historical attractions. Today, the famous beaches with golden sands and turquoise waters, which make for a gorgeous backdrop for leisure and activities, are drawing crowds of tourists. Adventure seekers are attracted by the heart-pounding experiences provided by Jebel Jais, a mountain known for the thrill it provides, and Bear Grylls’ highly popular Explorers Camp, where tourists can immerse themselves in survival skills and outdoor activities. The majestic Hajar Mountains, with their rugged beauty and scenic trails, beckon adventure enthusiasts.

Ras Al Khaimah’s advantageous position adds to its allure on the international travel scene. 70% of the world’s population lives within an eight-hour flight of the emirate, making it a convenient and alluring travel destination for people from all around the world. This geographic benefit makes Ras Al Khaimah a lively and multicultural destination by guaranteeing a melting pot of culture and facilitating simple accessibility. The emirate’s tourism development is due to more than simply its modern attractions and natural marvels; it also shows how well it can combine tradition and innovation to provide each and every visitor with a unique and enthralling experience.

Leading names in investment and real estate, such as Aldar, Emaar, and Abu Dhabi National Hotels, have taken notice of Ras Al Khaimah’s growing tourism sector and are interested in the emirate’s potential. Their participation has created the conditions for a quick change in the real estate and hospitality sectors. These major corporations are actively reshaping the emirate’s terrain in addition to identifying the opportunities that currently exist. Their large-scale investments are driving a wave of growth marked by magnificent homes and inventive architectural marvels. Remarkably, almost 6000 rooms in the city have been carefully designed, illustrating the extent of this change. With so many new lodging alternatives available to visitors, Ras Al Khaimah’s hospitality industry is about to undergo a revolution. The timeline for such construction adds even more prominence: most of these rooms should be available by 2026, ushering in a new era for the emirate’s hospitality infrastructure. This dramatic rise in the number of available rooms not only demonstrates investors’ faith in the region’s potential, but also their dedication to improving the overall experience for guests. Ras Al Khaimah is therefore poised to develop into a premier, global centre for hospitality that draws travellers in from all over the world. Through their partnership with the local government, these prestigious investors hope to make Ras Al Khaimah the epitome of luxury, innovation, and unrivalled hospitality in the Middle East.

This bustling sector is led by Hilton Worldwide, which currently operates over 2900 rooms. However, a key entrant will be Wynn Resorts, with the vast and integrated Wynn Al Marjan Island. With approximately 1200 rooms set to be opened by 2027, the highly anticipated resort is the first of its kind in the region and is expected to be a significant fillip for the market.

Wynn Resorts’ global brand recognition is a decisive factor, but equally enticing is the integrated nature of the multi-billion dollar development. With extensive entertainment options and unprecedented gaming attractions alongside state-of-the-art meeting, conference and event-hosting facilities, this is a comprehensive lifestyle destination that will bring Las Vegas-style wonders to Ras Al Khaimah’s shores.

The anticipated resort marks a turning point in Ras Al Khaimah’s development as a popular travel destination. In addition to offering opulent lodging, it will be the region’s lighthouse, bringing in the emirate’s distinct fusion of luxury, adventure and tradition to the attention of the world. The resort, which is expected to see a sizeable influx of tourists in its first year, will lay the groundwork for three years of steady growth, propelled by an astounding 28% Compound Annual Growth Rate (CAGR) from 2022. The city’s thriving tourism economy is on even greater display thanks to this growth trajectory. It is a trajectory set to make Ras Al Khaimah the next global hub of luxury real estate and hospitality.