Real estate transactions registered in the Land and Property Sector in Ras Al Khaimah Municipality achieved outstanding results during 2024, with a total value exceeding AED 15 billion, a growth of 117%, reflecting the significant activity in the real estate sector in the emirate and the volume of growth witnessed by the market.
2,985 sales were recorded with a value exceeding AED 6 billion, and 1,224 mortgage transactions were completed with a total contract value exceeding AED 4 billion, and 845 concession transactions with a total market contract value exceeding AED 3 billion. By comparing real estate transactions for 2024 with 2023, a significant increase in the total value appears by up to 117%, and real estate sales recorded a significant increase of 85% compared to the same period last year, reflecting a significant improvement in the movement of the real estate market.
Al Marjan Island topped the list of the most important real estate areas in the emirate, with sales value exceeding AED 4 billion in 2024, compared to AED 1 billion in 2023, making it the most active area, while Al Raffa, Al Jazirah Al Hamra and Al Hamra Village also recorded high results in terms of sales value.
One of the most prominent points indicating the development of the real estate market in Ras Al Khaimah is the significant increase in the value of industrial land sales, as these lands witnessed a huge increase of 1226% in 2024 compared to the previous year, while residential and commercial lands recorded an increase of 217% during the same period, reflecting the increasing demand for these types of lands in the emirate. The real estate market in Ras Al Khaimah continues to achieve positive results, reflecting the growing confidence of local and international investors in the emirate’s real estate sector. Real estate transactions are expected to continue their growth path in the coming years, which supports Ras Al Khaimah’s vision to be one of the most attractive destinations for real estate investments.