RAK Real Estate market is getting exposed to new industry segments with gradual and wholistic development of commercial and institutional facilities in the Emirate. The relationship between Educational Institutions and the Real Estate market is multifaceted and can significantly influence local economies, property values, and community development.
Recently, ATMS Education Group has announced a significant investment of AED 100 million for the development of a new campus for the University of Wolverhampton in Ras Al Khaimah. This project marks a major milestone, with the lease agreement for 20,000 m² of land in the Al Hamra area at the Ras Al Khaimah Economic Zone (RAKEZ) officially signed by Yaser Abdulla Al Ahmed, RAKEZ Chief Government & Corporate Relations Officer, and Dr. Hemant Kumar, President of ATMS.
The University of Wolverhampton, a renowned British institution with a legacy of over 190 years in educational excellence, is expected to open its new campus by December 2025. The campus will be equipped with modern facilities, including separate hostels for male and female students, capable of accommodating over 600 students. The design aims to foster a holistic learning environment that supports both academic achievement and personal development.
This initiative aligns with Ras Al Khaimah’s vision for sustainable development and innovation in higher education. The University will offer a range of traditional degree programs alongside short-term certifications and executive education tailored to meet the dynamic needs of various industries. Program offerings will include disciplines such as Business Administration, Computer Science, Health Sciences, and Engineering, contributing to the growth of the emirate’s economic sectors and addressing workforce demands.
Ramy Jallad, CEO of RAKEZ Group and Dr. Hemant Kumar, President of ATMS highlighted the strategic advantages of setting up the campus in Ras Al Khaimah, noting its role as a gateway connecting the East and West. He emphasized the emirate’s growing population, safety, and cost-effectiveness as key factors in the decision. Additionally, he praised RAKEZ for facilitating the project with a ready-made building on prime land in the forthcoming downtown area and streamlining the approval process with relevant government entities. Dr. Kumar reaffirmed ATMS’s commitment to contributing to the socio-economic development of Ras Al Khaimah by equipping students with vital global competencies and fostering a multicultural, inclusive academic community.
The interplay between educational institutions and the real estate market is vital for understanding community dynamics and economic development. Here’s an overview of how these two sectors interact:
- Impact on property values: Homes located near reputable educational institutes often have higher property values.
- Increased demand for student/staff housing: In areas with large universities or colleges, there is a significant demand for rental properties catering to students/staff. This can lead to the development of multifamily housing or purpose-built student accommodations.
- Family Relocation: Families often move to areas with good schools, influencing overall housing demand and development patterns.
- Job Creation: Educational institutions are often significant employers within a community, contributing to local job markets and economic stability. This can increase demand for housing and commercial real estate.
- Attracting Businesses: Areas with strong educational institutions may attract businesses looking for a skilled workforce, further driving demand for commercial and residential properties.
- Real Estate Investment Trusts (REITs): Some investors focus on properties near educational institutions, creating opportunities in student housing or related commercial real estate.
- Public-Private Partnerships: Collaborations between educational institutions and real estate developers can lead to innovative housing solutions and campus expansions.
- Demographic Changes: As younger generations prioritize different lifestyle choices (e.g., urban living, co-living spaces), the types of real estate investments and developments may shift.
Investors, policymakers, and community planners must consider this relationship when making decisions to foster growth and enhance living conditions.
Ras Al Khaimah is an emerging market in terms of real estate and education, offering opportunities for investment and development. The government’s focus on infrastructure and tourism, combined with a growing number of educational institutions, positions RAK as an attractive destination for both residents and investors. As the emirate continues to develop, it is likely to see further growth in these sectors.
