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Ras Al Khaimah real estate witnessing strong progress as Wynn rapidly moves towards completion
With residential prices rising approximately 14–15% year-on-year and transaction volumes reaching multi‑year highs, RAK is rapidly evolving into one of the UAE’s most compelling growth markets
- PUBLISHED: Thu 15 Jan 2026, 10:00 PM
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Ras Al Khaimah’s real estate market is entering 2026 with powerful momentum, fuelled by a surge in investor confidence, transformative destination projects, and a sharp rise in both sales values and transaction activity. By the end of Q2 2025, total real estate sales in the emirate exceeded Dh2.33 billion, underscoring sustained demand across residential segments amid expanding off-plan launches and broader market accessibility initiatives. The upward trajectory has been particularly pronounced in prime coastal communities. Al Hamra Village saw average villa prices per square foot jump by around 42%, while apartment markets in Al Hamra and Al Marjan Island registered double‑digit gains, with price-per-square-foot increases of more than 30% and 21%, respectively.
This strong performance is reinforced by landmark developments such as the Wynn Al Marjan integrated resort, expected to catalyze long-term tourism and investment flows, and mixed-use projects like RAK Central that are reshaping the emirate’s urban landscape. With residential prices rising approximately 14–15% year-on-year and transaction volumes reaching multi‑year highs, Ras Al Khaimah is rapidly evolving from a niche alternative to one of the UAE’s most compelling growth markets—drawing both end-users and global investors seeking resilient returns.
A number of projects have started breaking ground in anticipation of the Wynn launch.
ELEVATE has officially broken ground on the highly anticipated Mondrian Al Marjan Island Beach Residences, marking the start of construction for a landmark residential destination delivered in partnership with Ennismore, the global lifestyle hospitality group behind Mondrian.
In a ceremony held on Al Marjan Island, ELEVATE announced the appointment of Pinnacle Piling as the shoring contractor for the project. The groundbreaking comes just weeks after the development shattered market records, securing over Dh700 million in sales within just two hours of its launch.
Arch. Abdulla Al Abdouli, Group CEO of Marjan, commented on the milestone: “The groundbreaking of Mondrian Al Marjan Island Beach Residences is another testament to the incredible velocity at which Al Marjan Island is transforming into a world-class destination. Every milestone of our developers who are investing in this island is a showcase of our collaboration with them and contributes significantly to the growing trajectory of Ras Al Khaimah’s real estate and tourism sectors which are set for remarkable expansion.”
The Dh1.8 billion Mondrian development in Al Marjan Islands, a partnership with Ennismore the world’s fastest-growing lifestyle hospitality company, has been received with an overwhelming response from global and local buyers, with more than 200 units allocated within 2 hours. With construction now underway, the project is on track for its scheduled completion in Q4 2028.
Zeeshaan Shah, Founder & Chairman of ELEVATE, said, “We promised our investors a new standard of execution, and today we are delivering on that promise. Breaking ground soon after our record-breaking launch reiterates our commitment to our buyers as we move with speed and precision. We have started the process and are proud to appoint Pinnacle Piling, who come with 35+ years of experience in the region. As we move to release Phase 2, we remain focused on bringing this iconic landmark to life.”
ATARA Development recently broke ground on The Residences at Sheraton Al Marjan Island Resort, marking a major milestone for the GCC’s first Sheraton Residences. With enabling works underway and 5% of overall progress completed, the landmark beachfront project on Al Marjan Island is advancing steadily under the leadership of ATARA’s in-house construction arm, Rakhat Construction.
Arch. Abdulla Al Abdouli, Group CEO of Marjan, said “The addition of the Sheraton Residences further strengthens Al Marjan Island’s position as a premier lifestyle destination. This project contributes to our vision of bringing exceptional, world-class developments to the island, enriching its residential offering and international appeal.”
Umid Bazarov, Chief Operating Officer of ATARA Development, said “Breaking ground before launching sales reflects ATARA’s philosophy of leading with action, not promises. By showcasing tangible construction progress from day one, we reinforce a sales strategy built on trust and visibility—giving future buyers the assurance that their ownership is supported by a developer fully committed to transparency, quality, and timely delivery. With the project scheduled for completion by Q3 2028, buyers can purchase with confidence knowing the timeline is clearly defined and closely adhered to. The Residences at Sheraton Al Marjan Island Resort sets a new benchmark for luxury developments entering the market.”
Jaidev Menezes, RVP – Mixed-use Development, EMEA at Marriott International, added: “As construction begins, we are delighted to see the Sheraton brand emerge in a new and iconic environment. This development will reflect Sheraton’s design excellence and community-driven ethos, offering residents a uniquely elevated living experience on Al Marjan Island.”
Featuring 159 premium beachfront units, the project is co-located with the Sheraton Al Marjan Island Resort and will offer modern architecture, refined interiors, and access to over 50 world-class amenities. As one of only a limited number of Sheraton-branded residences globally, it presents a rare opportunity for elevated waterfront living backed by ATARA’s meticulous development standards
