Future of Ras Al Khaimah Event – Inspired by The Land was held on 1st Nov 2024 in RAK, UAE. The attendees here experienced a transformative journey of RAK as it unveiled its exciting vision for the future. This industry event brought together stakeholders, leaders and innovators for a morning of insights and networking. While the event ran through an inside look of the ambitious developments shaping this thriving Emirate, the audience were awestruck with some exciting announcements made at the event.
KEY ANNOUNCEMENTS
- Marjan -The master developer of freehold properties in the Emirate – announced giving a total of Dh2-million prize to the top investor and real estate agent who will complete the most transactions and achieve the highest sales value by the end of the year. Arch.Abdulla Al Abdouli, CEO of Marjan said “Dh1 million will go the individual investor who invests the most in RAK, and another Dh1 million to the broker or agent who achieves the highest sales. The rewards will remain available until the end of the year, giving participants two months to qualify.”
This announcement aimed at bolstering the real estate market in Ras Al Khaimah as an exciting initiative by incentivizing both investors and real estate agents. The competition further aims to encourage increased activity in the Real Estate sector. This could lead to a rise in transactions and sales value, benefiting various stakeholders in the market. The prize not only stimulates interest but also showcases the Emirate’s commitment to attracting growing real estate investments. Participants will likely be motivated to elevate their performance and explore new opportunities in Ras Al Khaimah’s growing property landscape.
- Arch. Abdulla Al Abdouli emphasized that Ras Al Khaimah (RAK) is currently witnessing a remarkable surge in luxury property sales. He drew attention to a recent achievement where a developer successfully sold two upscale units for a record-breaking total of Dh180 million.
“This milestone demonstrates the commitment of developers in the region to establish elevated standards within the real estate market,” Al Abdouli highlighted. This trend not only reflects the growing demand for luxury properties in RAK but also underscores the investment potential the area has to offer. The rise in high-end sales is indicative of a broader shift towards premium living options in the Emirate, attracting affluent buyers and investors alike.
- Almal Real Estate Development has made a significant impact on the real estate market in Ras Al Khaimah (RAK) by achieving a record selling price of Dh6,300 per square foot in the development area. This milestone in pricing indicates strong demand and interest in the market, reflecting a positive trend in local real estate.
The CEO of Marjan commended Almal for reaching the highest unit sales in RAK, highlighting how their success not only reinforces their position in the market but also contributes to the overall growth and vitality of the local real estate sector. This achievement is a testament to Almal’s strategic developments and investments in the region, fostering optimism for future projects and developments in Ras Al Khaimah.
- Arch. Abdulla Al Abdouli also announced a partnership between RAK Central and Pantheon Development to mark the beginning of a long-term development journey creating an exciting commercial district in the Emirate of Ras Al Khaimah (RAK).
RAK Central is an ambitious initiative by Marjan, aimed at transforming RAK into a vibrant work-live destination. The master plan emphasizes modern office spaces designed to foster a productive work environment while prioritizing environmental sustainability. This approach not only aims to attract businesses and residents but also seeks to maintain a balance between supply and demand in the local market. Arch. Abdulla further highlighted the project’s commitment to preserving the unique heritage of Ras Al Khaimah, ensuring that the development complements the cultural and historical significance of the region. By focusing on sustainable practices and enhancing the quality of life for residents, RAK Central aims to become a model for future urban developments in the UAE.
The event also highlighted the expansive investment options that RAK Properties and Al Hamra Group has to offer for investors globally. Al Marjan Island is playing a pivotal role in transforming Ras Al Khaimah into a premier destination for both living and investment. With its strategic development of lots aimed at attracting partners and investors, the island is not just enhancing its appeal but also contributing to the overall growth of the region.
The anticipation surrounding future projects, particularly the first integrated gaming resort in the Middle East North Africa (MENA) region scheduled for 2027, is indicative of Ras Al Khaimah’s commitment to diversifying its tourism and entertainment offerings. This initiative is expected to draw a wide array of visitors and residents, fostering a vibrant, dynamic community that prioritizes sustainability.
As the CEO of Marjan believes, these developments will not only boost the local economy but also enhance the quality of life for those who choose to live in or visit RAK, making it an attractive option for diverse demographics. The ongoing commitment to nurturing both livability and growth solidifies Ras Al Khaimah’s reputation as a top destination.
