RAK signals a booming real estate market

RAK signals a booming real estate marketImage Credit: Supplied

Blessed with a unique and diverse landscape amidst a temperate climate, a glorious heritage, and a mélange of outdoor and adventure options, Ras Al Khaimah (RAK) has a great potential of providing an amazing property market particularly for the price-conscious investors.

With a combination of sea (in the form of the Arabian Sea), beautiful desert and mountains (Hajar Mountains) all within easy accessibility of half an hour, RAK is slowly and steadily making its way as the focus of real estate investments as well as one of the popular tourist destinations in the UAE.

Located at a quick distance of just 45 minutes from Dubai, RAK has been banking on its reputation as one of the best weekend destinations for UAE residents. Now, it is promoting itself as an attractive and lucrative option even for people who want to make it their first home.

RAK's 64-kilometer coastline offers immense potential in terms of waterfront properties. Several residential, commercial and hotel projects have come up in the emirate in the recent past, and many others are making their way briskly on the RAK skyline. The entire emirate is undergoing major development as the real estate market in the UAE is bouncing back.

Waterfront properties like Al Hamra Village, Al Marjan Island and Mina Al Arab are promising developments in the city. Flamingo Villas and Lagoon Heights are reported to be fully sold out. The Bermuda Villas, a new beachfront community consisting of 157 villas and townhouses, has been launched in the first half of this year. Work on La Hoya Bay, which will consist of 662 apartments, is slated to begin this year.

A major highlight in the RAK property development scene is the host of five-star properties that have made a beeline to the emirate in the recent past. The emirate is developing a strategy to develop its tourism sector through a sharp focus on luxury resort developments. The Cove Rotana Resort, Al Hamra Palace Beach Resort, Banyan Tree Al Wadi, Rixos Bab Al Bahr, DoubleTree by Hilton Hotel Resort and Spa and Waldorf Astoria are just some of the exquisite five-star hotels that have sprouted in the emirate in recent years.

Handy Hints:

• Gorgeous coastline and superb connectivity make RAK a great residential option

• A number of mixed-use beachfront properties are being developed in RAK

• Five-star hotels and resorts have given RAK's tourism sector a needed boost

Read more on RAK residential market performance

Source: Bandana Jain, Special to Properties

The writer is a freelancer


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