Spanning 62 hectares on Al Marjan Island, Wynn Al Marjan Island, set to open in 2027, will introduce 1,542 rooms and suites, 225,000 sq ft of gaming space, 15,000 sq m of retail, and large-scale event and entertainment facilities.
According to Savills, the residential stock in Ras Al Khaimah (RAK) is projected to double by the end of 2030 with over 11,000 units scheduled for completion, based on the supply from launches up to the end of 2024. At over AED 11 billion in 2024, sales transaction values have gained considerable momentum post-pandemic.
Off-plan sales dominated the market in 2024 and communities such as Al Marjan Island, Mina Al Arab, and Al Hamra have seen an upward trend in capital values and rents since 2022, coinciding with the Wynn announcement.
“There is growing demand for premium residential offerings in RAK,” said Andrew Cummings, Head of Residential Agency at Savills Middle East. “Branded residences now make up 32% of anticipated supply on Al Marjan Island, reflecting buyer appetite for well-located, lifestyle-led investments.”
The Sunshine Bay development on Al Marjan Island exemplifies this momentum. Launched in late 2024, as master agents, Savills sold out its 240 units in just three months, achieving average prices of over AED 2,200 per sq ft. Buyers represented 37 nationalities, with British investors accounting for more than 40%. In April 2025, Savills is also set to launch the Anantara Mina Ras Al Khaimah Residences, which will have a collection of 84 units spanning luxury suites, apartments and duplex sky villas. Prices start from AED 2.2 million, with a 60/40 payment plan and handover expected in Q3 2028.
Rising visitor numbers fuel real estate demand
Driving this demand for real estate is the rise in visitor numbers. In 2024, the Emirate welcomed 1.28 million tourists, a 5.1% increase compared to the previous year. International and domestic visitors were evenly split, with 661,000 air arrivals reflecting a 28% year-on-year increase, underscoring RAK’s growing appeal as a short-stay leisure destination.
Tourism growth has been consistently positive since 2020, supported by beach resorts, desert landscapes, and activities anchored around Jebel Jais, the UAE’s highest peak. With the addition of integrated resort developments and enhanced connectivity via RAK International Airport and nearby Dubai, the Emirate is poised to attract an even broader range of travellers. Looking at the potential impact of gaming alone, if the UAE’S gaming revenue reaches 1.6% of GDP, which is the same as Singapore, it could generate revenues of more than AED 20 billion.
While historically reliant on Dubai for luxury and lifestyle amenities, RAK is quickly building its own offering, from the Ritz-Carlton Al Wadi’s Zuma winter pop-up to improved schooling options. In the 2023/24 academic year, seven schools received a ‘good’ rating from the Ministry of Education, up from three the previous year, with the British School Al Hamra standing out as the only school in the Northern Emirates to be rated ‘very good’.
“RAK’s evolution is now beyond tourism alone,” added Rachael Kennerley, Head of Research at Savills Middle East. “We’re seeing the pieces come together, infrastructure, education, entertainment, and residential development, which together make a compelling case for long-term investment and growth.”
Read the complete findings of the study here: RAK Report
