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Ras Al Khaimah (RAK)
Ras Al Khaimah (RAK), the northernmost emirate of the UAE, is rapidly emerging as a prime destination for tourism, real estate investment, and luxury living. Here’s an in-depth overview of its key attributes:
Area & Location
- Geography: RAK spans approximately 373 km² and is situated along the Persian Gulf, bordering Oman and the Hagar Mountains.
- Proximity: It’s about a 1-hour drive from Dubai, offering a blend of coastal and mountainous landscapes.
Connectivity
- Road Access: Well-connected via major highways to Dubai and other emirates.
- Air Travel: Ras Al Khaimah International Airport is undergoing expansion to enhance flight routes and capacity.
- 5.5 million tourists is expected to be visiting in 2027 once the casino is fully ready
Malls & Retail
- Al Hamra Mall( by al dar) : A prominent shopping destination featuring international brands and dining options.
Schools & Education Hubs
- RAK Academy: One of the leading educational institutions offering international curricula.
- RAKEZ Academic Zone: Hosts various universities and training centers, fostering educational growth.
Attractions & Leisure
- Jebel Jais: Home to the world’s longest zipline, offering adventure tourism experiences.
- Al Marjan Island: A man-made archipelago featuring resorts, beaches, and upcoming luxury developments.
- Manta Bay Resort: Set to open by 2026, it will feature the world’s tallest rooftop beach at 197 feet, complete with real sand and seawater pools.
Airport
- Ras Al Khaimah International Airport: Currently expanding to accommodate increased passenger traffic and enhance global connectivity.
Islands
- Al Marjan Island: Comprises four coral-shaped islands— Breeze, Treasure, Dream, and View—offering luxury resorts, residential units, and entertainment venues.
- Falcon islands : Nestled in Al Hamra Village, Falcon Island provides residents with picturesque views of the Arabian Gulf and access to a range of leisure facilities, including a championship golf course and a marina.
- Design Philosophy: The development emphasizes exclusivity and luxury, aiming to deliver a high-end lifestyle experience.
Real Estate Prices & Market Trends
- Market Growth: In 2024, property transactions surged by 118%, reaching AED 15.08 billion, up from AED 6.94 billion in 2023.( following the same prices rate of Dubai )
- Property Prices:
- Studios: Starting from AED 800,000.
- One-bedroom apartments: From AED 1.2 million.
- High-end villas: Priced above AED 7 million.
- Future Outlook: The property market is projected to double by 2030, with over 11,000 new residential units planned.
The Casino: Wynn Al Marjan Island
- Overview: Wynn Resorts is developing a $3.9 billion integrated resort on Al Marjan Island, set to open in 2027.
- Features:
- 1,542 hotel rooms.
- 225,000 sq. ft. gaming area.
- 22 restaurants and extensive retail space.
- Significance: This will be the UAE’s first casino, marking a significant shift in the region’s tourism and entertainment landscape.
Future Expectations
- Tourism: RAK welcomed 1.28 million tourists in 2024, a 5.1% increase from the previous year.
- Economic Growth: The emirate’s GDP is bolstered by diversified sectors, including real estate, tourism, and manufacturing.
- Sustainability: RAK is prioritizing eco-friendly developments, with 30% of new residential projects in 2024 earning green building certifications.Ras Al Khaimah’s strategic initiatives and developments position it as a burgeoning hub for investment, tourism, and luxury living in the UAE.
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