RAK property market braces for 25,600 new homes by 2030

Dubai: Ras Al Khaimah has 25,600 new residential units in the pipeline between now and 2030, with apartments accounting for 97% of future supply, according to Cavendish Maxwell.

The emirate delivered 170 homes in the first quarter of 2026, while another 1,700 units are expected to come to market this year. A further 23,900 homes are scheduled for delivery by the end of the decade, with 2029 expected to be the busiest year for handovers at 9,100 units.

Ras Al Khaimah’s population is currently around 450,000 and is projected to reach 650,000 by 2030, Cavendish Maxwell said.

The emirate attracted Dh39 billion in foreign direct investment across 17 projects last year, more than any other emirate in the UAE. Economic licence capital also rose 15.5% year-on-year in the first quarter of 2026 to reach Dh11.5 billion.

"RAK is undergoing major infrastructure investment in roads, aviation and maritime, strengthening regional connectivity and supporting the emirate’s 2030 economic diversification and competitiveness goals," said Yousir Habib, Associate Director at Cavendish Maxwell Ras Al Khaimah. "As a result, the residential real estate sector secured Dh12.3 billion worth of sales across 6,600 transactions last year, when sales prices and rental rates jumped considerably. The market is now undergoing a sustained period of new supply.”

Off-plan activity accounted for 85% of residential transactions last year and contributed Dh11.2 billion in sales, according to the consultancy.

RAK Properties, Al Hamra Real Estate and Ellington Properties are expected to deliver more than 40% of the 25,600 units planned over the next four years. Aldar, BNW Developments and Source of Fate Properties are also among the developers adding new supply to the market.

Residential prices continued to rise between October 2025 and March 2026, with apartment sales prices up almost 5% and villa prices up nearly 4%. Rental rates increased more than 6% for apartments and 5% for villas over the same period.

Major infrastructure projects are adding to the emirate’s real estate momentum. Upgrades to the E11 Sheikh Mohammed bin Salem Road and the E311 Sheikh Mohammed Bin Zayed Road are expected to cut journey times between Ras Al Khaimah and Dubai by 45%.

RAK International Airport is also expanding, with a target of 3 million annual passengers by 2028. The expansion includes a 30,000 square metre passenger terminal, a VVIP terminal and an 8,000 square metre hangar.

Saqr Port’s planned deep-water, multi-purpose facility is being designed to accommodate Capesize vessels, which can stretch up to 290 metres and carry up to 400,000 tonnes of bulk cargo.

Cavendish Maxwell said Ras Al Khaimah’s office market is also recording stronger demand, with rental rates rising 8.6% between the first quarter of 2025 and the first quarter of 2026.

Office rents also increased 5.3% between October 2025 and March 2026. Future office supply includes 82,000 square metres of Grade A space at RAK Central, while the upcoming Erisha Smart Manufacturing Hub at Al Ghail Industrial Park is set to span 2.32 million square metres.