Ras Al Khaimah (RAK) has 25,600 new residential units in the pipeline between now and 2030, with apartments accounting for 97 per cent of future supply, according to a report by leading real estate advisory group and property consultancy, Cavendish Maxwell. 

The report said around 1,700 homes are scheduled for delivery this year after 170 units were completed in the first quarter, while a further 23,900 units are expected to be handed over between 2027 and 2030. 

Residential property transactions totalled 6,600 last year, with sales valued at AED12.3 billion ($3.35 billion), the report said. 

Off-plan properties accounted for about 85 per cent of the transactions and generated AED11.2 billion in sales.

Cavendish Maxwell said deliveries are projected to peak in 2029, with about 9,100 units due for completion. 

This robust growth is due to the rising demand, driven by population growth, higher foreign investment and expanding business activity in the emirate, it added.

More than 40 per cent of the 25,600 units coming to the market over the next four years will be delivered by RAK Properties, Al Hamra Real Estate and Ellington Properties, with Aldar, BNW Developments and Source of Fate Properties also among the key developers fuelling the emirate’s real estate growth, it stated.

On the northern emirate’s tremendous growth, Yousir Habib, the Associate Director at Cavendish Maxwell Ras Al Khaimah, said: “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. As a result, the residential real estate sector secured AED12.3 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,” he added.