Ras Al Khaimah, UAE real estate boom, residential projects.

Ras Al Khaimah is one of 7 Iceland of United Arab Emirate and one of most booming place in terms of real estate in 2024 this trend in property and economic boom will continue for upcoming 2 to 3 years according to reports.

Known for its beautiful beaches, amazing tourism within the city, especially 4×4 Desert Safari ride in the sand dunes are very popular among the tourists and local billionaires.

When it comes to the overall big real estate projects, top names include construction in man-made island, Al Marjan island project by Emaar address, Aldar with Nikki Beach residences, Rosso bay residences, Moonstone residences by missoni another big project worth mentioning is Nobu residences in Al Marjan island by H&H.

Some other developments include, areas like Al Hamra, one of the older areas in Ras Al Khaimah, right next to the beach and Al Marjan island. Projects like Al Hamra golf course and Ellington's Ellington views one and two project.

Some of these project are already ready and some are under development and would be ready in 2 to 3 years, with handover date going up to 2027 in some projects. The average cost of a one-bedroom apartment (flat) in many projects starts as low as AED 1.1 million.

Another area being developed is Mina Al Arab, by Rak properties, the development includes an area of 44 million square feet, with two islands the Raha island and Hayat island. Within Hayat isrland projects like Cape Hayat is being developed by Rak properties, other projects include Nikki Beach, intercontinental hotel, Ellington's Porto Playa.

Another project is situated in the Al Hamra village, the new project taking shape is called Falcon island, the project has beach front villas, town house, golf course, the project is a 77 million square foot area. This would complete in Quarter 4 of 2024.

The al Hamra project is a special one due to it being a prime location in the Ras Al Khaimah and just 45 minutes drive from Dubai intercontinental Airport. The location is at the ocean.

The properties pricing starts somewhere 3 to 4 million AED in different parts of Ras Al Khaimah's main projects, with around AED 2 to 2.5k AED per square foot.

Building a house in the UAE, say a basic standard quality villa with standard-materials would cost you somewhere around AED 700,000 to AED 1 million today.

The cost per square foot could range from AED 350 to AED 500 for the same, this goes higher with the building materials used and construction quality.

A good example would be, “a 2,000 square foot house would have an estimated construction cost of 700,000 to AED 1 million with AED 350 × 2,000 sq ft to AED 500 × 2,000 sq ft.”

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