Demand for luxury property in Dubai and RAK continue to rise

The UAE has one of the largest demands for the luxury sector globally, particularly in real estate and experiential sectors. The demand for luxury residential developments in both Ras Al Khaimah and Dubai has been on a steady rise, driven by the UAE’s strong economic performance, investor-friendly regulations, and the huge influx of high-net-worth individuals—the highest in the world according to Kearney’s recent Global Luxury Report.

Ras Al Khaimah, in particular, is emerging as a sought-after destination for luxury waterfront living and leisure, backed by the visionary leadership of RAK and Marjan. Dubai continues to be a global hub for upscale real estate and investments. We see strong potential in both markets and are confident that our developments will resonate with buyers and investors alike.

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“The forward-thinking leadership of the country has ensured that the UAE real estate market continues its upward trajectory, driven by economic diversification, strong investor interest, and ongoing infrastructure development. The market’s growth is further supported by initiatives such as long-term residency visas and increasing foreign investments,” said Nishant Deshmukh, Founder & Managing Partner, Sugee Group.

Over the next five years, Sugee expects sustained demand for high-quality residential and commercial developments, with a projected increase in luxury property sales.

Excerpts from an interview:

Sugee Group has a strong legacy in Mumbai and Lisbon. What prompted the decision to enter the UAE market at this time?

Sugee Group’s expansion into the UAE is a strategic move driven by the country’s dynamic real estate market, investor-friendly policies, and growing demand for luxury developments. We have been researching the market for over two years before making our entry here.

The UAE, particularly Ras Al Khaimah and Dubai, presents a significant opportunity for developers like us who come with a legacy of high-spec, design-centric projects. With a strong track record in Mumbai and Lisbon, we believe our expertise in delivering premium developments globally aligns very well with the UAE’s evolving landscape and international population of home buyers and investors. Furthermore, the visionary leadership of the UAE, along with rapid infrastructural advancements, makes it the perfect time for us to establish our footprint here.

What is the type of investment you plan to bring to this market?

We are here to make a mark in the country with our real estate offering and are looking at establishing ourselves for the long term. Sugee Group has committed to developing over 15 million sq. ft. in the UAE over the next three years. Our flagship developments in RAK will bring over 10,000 residential and commercial units in the upcoming years. Our initial investment in the UAE includes acquiring prime land in Ras Al Khaimah’s Marjan Island and RAK Central. This marks the beginning of a long-term commitment to the region, and we will be announcing further investments in Dubai soon.

What are the key milestones for this ambitious plan?

The first milestone will be the launch of our flagship project in Al Marjan Island, Ras Al Khaimah, which we will be announcing within the next 60 days. This will be followed by our second project in the northern emirate at RAK Central. Additionally, we are in the process of finalizing prime locations in Dubai for further residential and mixed-use developments.

Could you share more details about your first project in Al Marjan, Ras Al Khaimah?

Our first project in Al Marjan will be a luxury residential development designed to offer resort-style living with waterfront views and world-class amenities. The project will cater to a global clientele, combining architectural excellence with state-of-the-art amenities. What sets it apart is our focus on superior design and the ability to provide a seamless blend of luxury and comfort ensuring attractive ROI. We will be unveiling this project within the next two months and sharing more details at the launch.

What type of residential and commercial units can we expect from Sugee Group in the UAE? Will they cater more to end-users or investors?

Sugee Group’s UAE developments will feature a mix of high-end residential units, including apartments, penthouses, and waterfront villas, as well as premium commercial spaces. Our focus is on creating homes that cater to both end-users and investors, offering a blend of luxury, convenience, and long-term value. The demand for high-spec residential properties in Ras Al Khaimah and Dubai is rising, and our projects will be designed to meet these evolving preferences.

 Can we expect any partnerships with local or global firms for design, construction, or technology integration in your UAE projects?

We believe in collaboration, and partnerships with the best in class as we have always done across our business in Mumbai & Lisbon. We will definitely be looking at local partnerships for design, construction, and other aspects of development in the UAE as well. We believe in growing together and collaborating with leading local firms to ensure our projects reflect the highest standards of quality and innovation.

Will Sugee Group be focusing solely on residential developments, or are commercial and mixed-use properties also in the pipeline?

It is a mix, with our first RAK project being a combination of residential and retail spaces. While our initial focus in the UAE is on luxury residential developments, we are also exploring opportunities in commercial and mixed-use developments. As part of our long-term strategy, we aim to introduce projects that cater to the growing business and lifestyle needs of the region, ensuring a diversified portfolio that aligns with market demands.

Beyond real estate, is Sugee Group exploring any diversification opportunities in the UAE, such as hospitality or retail ventures?

We come with 35 years of legacy in real estate, starting in Mumbai and diversifying into other cities like Lisbon. Given our experience in creating high-end developments, we will continue to focus on bringing best-in-class projects. We are always open to market opportunities and innovation and will continue to evolve with market needs. For now, our immediate focus remains on delivering best-in-class residential and commercial projects before expanding into other sectors.

What are your plans for the next five years?

Over the next five years, Sugee Group aims to solidify its position as a key player in the UAE’s real estate sector by delivering landmark projects in Ras Al Khaimah and Dubai. As mentioned, over the next three years, we will be developing over 15 million sq. ft. of real estate and bringing more than 10,000 units to the market. Our vision is to be the trusted developer, creating lasting legacies and building timeless properties. We will ensure our footprint in the UAE is strategic and innovative, with a commitment to quality, timely execution, and customer satisfaction that we have been known for over the past three decades. This, we are confident, will drive our long-term success in the region.