To enhance the real estate market in Ras Al Khaimah, Marjan, the main developer of freehold properties in the emirate, announced a Dh2 million prize on Friday. This prize is for the top investor and real estate agent who completes the most transactions and achieves the highest sales value by the end of the year.
Abdulla Al Abdouli, CEO of Marjan, made the announcement during the ‘Future of Ras Al Khaimah Conference.’ He stated that Dh1 million will be awarded to the individual investor who invests the most in Ras Al Khaimah, and another Dh1 million will go to the broker or agent with the highest sales. This prize is available until the end of the year, giving participants two months to qualify.
Al Abdouli explained that the reward program aims to boost market activity. He added, “This program is designed to encourage new developments in the real estate sector and help advance the market as we set our growth targets for 2025.”
Luxury Property Sales on the Rise
Al Abdouli mentioned that Ras Al Khaimah is seeing a significant rise in luxury property sales. Recently, a developer sold two high-end units for a record total of Dh180 million.
“This achievement highlights the commitment of developers in the area to raise the standards in the real estate market,” Al Abdouli emphasized.
A prominent developer has also reached a new high in Ras Al Khaimah, achieving a selling price of Dh6,300 per square foot in the development area. This success is attributed to Almal Real Estate Development, which recorded the highest unit sales in the emirate. Marjan’s CEO acknowledged this success and its positive impact on the local real estate market.
Future Developments
Marjan has introduced the RAK Central project, a master plan aimed at creating a work-live destination with modern office spaces and a focus on sustainability.
Al Abdouli stated that the project aims to attract residents and businesses while balancing supply and demand and preserving Ras Al Khaimah’s unique heritage.
Meanwhile, Al Marjan Island continues to develop lots for strategic partners and investors, making Ras Al Khaimah a prime destination that combines livability with growth.
Future projects, including Wynn Al Marjan Island – the first integrated gaming resort in the Middle East and North Africa (MENA) region are expected to open in 2027.
Ras Al Khaimah aims to attract a diverse range of visitors and residents, creating a vibrant and sustainable community, said Al Abdouli.
