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Record Dh130 million Sky Palace sale headlines strong H1 for Ras Al Khaimah property
First-half 2026 review by CBRE Middle East shows residential values and rents rising strongly in the emirate, with more than 34,000 homes due by 2030
- PUBLISHED: Mon 21 Sept 2026, 6:57 PM UPDATED: Mon 21 Sept 2026, 9:07 PM
Ras Al Khaimah’s residential market was the emirate’s strongest-performing sector in the first half of 2026, with apartment sale prices up about 18 per cent year-on-year to Dh2,298 per sq ft and a record-breaking $35.4 million luxury home sale, according to CBRE Middle East.
The Sky Palace at Waldorf Astoria Residences sold for $35.4 million (Dh130 million), the highest-value residential transaction in the emirate’s history, CBRE said in its H1 2026 Ras Al Khaimah real estate market review.
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The first half was marked by a series of record-breaking luxury deals, which CBRE said reflected growing appetite for premium and branded residences. Other landmark sales included a $15 million penthouse in the same Waldorf Astoria project and a $34.7 million Sky Mansion at Mondrian Al Marjan Island Beach Residences.
Villa sale prices rose 7.3 per cent year-on-year. Growth was led by the established waterfront communities, with apartment values up 23.1 per cent on Al Marjan Island and 14.7 per cent in Al Hamra. In the ready market, apartment and villa values increased by 11 per cent and 10 per cent respectively. Apartment rents rose 14.3 per cent, led by Mina Al Arab and Al Marjan Island.
CBRE noted that both pricing and absorption have moderated since the end of February, although year-on-year performance remains very positive.
More than 34,000 homes on the way
The residential market is preparing for a significant expansion in supply, with more than 34,000 units expected between 2026 and 2030. Around 10,000 of these will be branded residences.
Major announcements in the period included The Strand and Lunara by RAK Properties, the Dh25 billion Evermore masterplan by Beyond Developments, and the launch of Karl Lagerfeld Beach Residences on Al Marjan Island.
“The pace of change we are witnessing in Ras Al Khaimah continues to impress. Despite a more challenging regional backdrop, investor interest in the emirate remains evident, supported by a growing pipeline of high-profile development and infrastructure projects,” said Matthew Green, head of research at CBRE Mena.
"While we are beginning to see a moderation in some performance indicators including absorption levels and sales pricing following an exceptional period of growth, overall activity levels remain positive.
“With major hospitality, residential and tourism projects continuing to progress, Ras Al Khaimah is well positioned to strengthen its role as one of the UAE’s most compelling investment and lifestyle destinations in the coming years,” he added.
