Around 3,160 homes will hit the market in four years
Ras Al Khaimah, or RAK as it’s known, is one of the most popular Northern Emirates. It attracts a lot of holidaymakers and staycationers owing to its picturesque coastline and international hotel chains. But the emirate is also a great place to live and a much more affordable alternative to Dubai. Residents love RAK best for its quaint charm.
It is common knowledge that you can rent a large house by the sea in Ras Al Khaimah for the price you pay for an apartment in Dubai Marina. A lot of people, therefore, choose to live in Ras Al Khaimah and drive to Dubai every day.
Currently, the most popular place to live in Ras Al Khaimah is Al Hamra Village. The project features waterfront villas, townhouses, apartments, a golf course, hotels, a marina and a shopping mall.
- The most popular places to live in Ras Al Khaimah are Al Hamra Village and Al Marjan Island
Another popular residential project is Al Marjan Island, the emirate’s first man-made island similar to Dubai’s Palm Jumeirah. Prominent UAE developer Emaar has announced the expansion of its Address hospitality brand in this location. The island currently hosts three hotels.
Breakdown of new supply
Ras Al Khaimah offers huge potential in terms of real estate development and several developers have already launched projects to add to the emirate’s housing supply. Below, we give you a breakdown of the 3,162 residential units slated to hit the market in four years.
The majority of residential supply being completed this year will be in Mina Al Arab and Al Marjan Island. According to Property Finder’s Research and Data team, 144 apartments in Gateway Residence, Mina Al Arab, will be ready by September 2019.
Other projects that will be completed in 2019 include Santorini by Stallion Properties in Al Marjan Island (565 apartments, villas and townhouses) and 354 villas in phase 1 of Bateen Al Samar, under the Sheikh Zayed Housing Programme, in March 2019.
Around 800 apartments in Living Bay on Al Marjan Island are already complete.
Most of the residential deliveries scheduled for completion in 2020 are public housing for Emiratis. These include around 530 villas spread across two phases of Bateen Al Samar, the Sheikh Zayed Housing Programme.
Separately, 41 private villas are also scheduled for December 2020.
More homes are scheduled for completion in Al Marjan Island and Al Hamra Village in 2021. These include Northbay Residences (Jan 2021) and 205 Marbella Villas (March 2021), both on Hayat Island, 135 Bayti Townhomes phase 2 in Al Hamra Village (Feb 2021), 150 villas in Falcon Island (Sep 2021) and Al Hamra Views in Al Marjan Island by March 2021.
Emaar Properties will also complete The Address Serviced Apartment Buildings on Marjan Island (234 units) in December 2021.
Emaar is slated to complete The Address Residential Apartments on Al Marjan Island by July 2022.