The Northern Emirates are experiencing an unprecedents surge in real estate development, fuelled by strategic initiatives and high-profile projects like the Wynn Resort. Ras Al Khaimah, in particular, has emerged as a leading player in the region, attracting international investors and developers.

01 November 2024

The UAE’s Northern Emirates – namely Sharjah, Ras Al Khaimah, Ajman, Umm Al Quwain, and Fujairah – have witnessed significant transformation in recent years, driven primarily by strategic development initiatives such as investment-friendly policies, long-term visas for property buyers and investors, and public-private partnerships. This transformation has had a profound impact on the real estate and construction sectors.

Real estate development has emerged as a key pillar of their diversification strategy. This fact is most apparent in Ras Al Khaimah, which is described as ‘the rising star of the UAE real estate market’. The trailblazer in this was the announcement in January 2022 of the establishment of the $3.9-billion Wynn Resort Al Marjan, which is expected to be the first integrated resort in the Middle East and North Africa (Mena) region.

Since then, the once-sleepy Ras Al Khaimah has seen numerous local, regional and international developers confirming interest in setting up residential, hospitality and mixed-use developments in the emirate, with Al Marjan island – which will host the Wynn gaming resort – being the host of many of these developments. Al Marjan island, which covers an area of almost 62 hectares and offers spectacular views of the Arabian Gulf, is now set to host a myriad of projects ranging from branded Tonino Lamborghini and Elie Saab homes to luxury residential apartments that boast the highest beach in the world.

Over the past month alone, there have been several launches and updates on projects in Ras Al Khaimah. For instance, Dar Global signed up Stromek Emirates Foundation to provide shoring, excavation and piling works for its The Astera, Interiors by Aston Martin; Major Developers broke ground on its AED1 billion ($272 million) Manta Bay project on Al Marjan Island; RAK Properties announced plans to introduce the Anantara branded residences at Mina Al Arab; Luxe Developers appointed China State Construction Engineering Corporation (Middle East) for its AED1.5 billion Oceano development at Al Marjan Island (see Page 14); and Almal Real Estate Development, unveiled the ocean-inspired avant-garde design features for The Unexpected Al Marjan Island Hotel & Residences (see Page 18).

Meanwhile, last month in Sharjah, Alef Group unveiled plans for its latest residential project, the AED2.5 billion Olfah (see Page 80); and Ajmal Makan announced that 85 per cent work has been completed on Blue Pearls and Blue Waves, located within the expansive Ajmal Makan City – Sharjah Waterfront project.

Significant investments have been made in infrastructure projects, including transportation networks, utilities, and public facilities in these emirates. This has created a favourable environment for real estate development and attracted investors and residents.  

In addition, the Northern Emirates have capitalised on their natural beauty and cultural heritage to promote tourism. This has led to a surge in demand for hotels, resorts, and residential properties.

While historically overshadowed by the rapid growth of Dubai and Abu Dhabi, these emirates are increasingly becoming hubs of development and have seen rising investment across various sectors, including tourism, infrastructure, manufacturing and residential projects. This growth is largely driven by strategic initiatives by local governments to diversify their economies, attract international investors, and provide affordable alternatives to Dubai and Abu Dhabi’s more expensive markets.

This apart, these emirates are now offering luxury homes in line with the demand for larger, branded homes.

Ras Al Khaimah and Fujairah have seen significant development in industrial zones. Ras Al Khaimah’s free zones, in particular, attract manufacturing and logistics businesses due to their strategic location and investor-friendly policies.

 

Real Estate

The cynosure of real estate development in the Northern Emirates, and in Ras Al Khaimah particularly, is undoubtedly the Wynn Al Marjan Island, comprising a 1,542-room hotel alongside entertainment and gaming amenities, construction work on which is well under way.

The US-based Wynn Resorts is developing the project in partnership with Marjan and RAK Hospitality Holding. Last month, the hotel and casino operator confirmed that it has received the UAE’s first commercial gaming operator’s licence for the Ras Al Khaimah property.

Slated to open in early 2027, Wynn Al Marjan Island will also include exclusive marina-side Villa Estates, a 3.6-hectare poolscape, a luxury shopping esplanade, a five-star spa, 24 restaurants and lounges, a wide array of entertainment choices including a theatre, a gaming area, and a state-of-the-art events centre.  

Wynn Resorts has stated that work is moving at a steady pace on Wynn Al Marjan Island, with its topping off expected in Q4 2025. The resort, anchored by a 300-m-tall tower, is scheduled to open to the public in early 2027. UAE-based main contractor Alec Engineering and Contracting began work on the Wynn Al Marjan Island early last year.

Meanwhile to meet the anticipated demand for luxury homes, Marjan, the master developer of freehold properties in Ras Al Khaimah, has launched La Mer by Elie Saab. The iconic waterfront property with interiors designed by Elie Saab, will be developed by UAE-based Arte Developments.  The exclusive La Mer by Elie Saab constitutes three towers connected by an intricate design with a dual lobby and multiple on-site facilities.  

Other branded residences at Al Marjan are being developed by Tonino Lamborghini, a world-renowned name in Italian elegance and craftsmanship, in partnership with Arista Developments. The Tonino Lamborghini Residences will add 241 luxury branded units to the island’s inventory, offering a range of elegantly designed residences, according to the Italian lifestyle brand. 

A number of Dubai real estate developers are also making their foray into the emirate’s market with projects at Al Marjan. Among the latest entrants into the market are Major Developers and Damac.

Major Developers has broken ground on the AED1-billion Manta Bay project, which aims to set a new benchmark for luxury living in Ras Al Khaimah. The development boasts the highest beach in the world with its own sand and sea water on the roof and 80 per cent of the complex is covered with exquisite plants.

Damac Properties has launched its inaugural project in Ras Al Khaimah – Shoreline by Damac on Al Marjan Island. The exclusive, branded beachfront residence is being designed in collaboration with contemporary art icon Vincent Faudemer’s luxury collection, Babolex, bringing a harmonious blend of funky and chic detailing to create a modern aesthetic with comfortable living for residents. 

Other Dubai developers that have launched projects recently on Al Marjan Island include Aark Developers and Almal Real Estate Development.

Aark Developers has launched its Sora Beach Residences, a first-of-its-kind tower on Al Marjan Island, being built at an investment of AED4 billion. The architectural design of the 18-storey property has been conceptualised by renowned Japanese architectural firm Nikken Sekkei, the creatives behind global landmarks in Asia and the Middle East including Dubai’s One Zabeel development. With a built-up area of 1.8 million sq ft, the building offers residents exclusive access to over 50 world-class amenities.

Almal Real Estate Development has launched its flagship development on Al Marjan Island, consisting on two properties: The Unexpected Al Marjan Island Hotel and The Unexpected Al Marjan Residences. It has appointed Design & Architecture Bureau (DAR) for the project, which boasts more than 422 hotel rooms and fully managed residential units. 

Situated less than a minute from the Wynn resort, the development offers guests extraordinary vistas of both the Wynn resort and the serene sea. 

Another Dubai developer Enevoria Development is setting up the five-star Nobu Hotel and Residences on Al Marjan Island in Ras Al Khaimah. SSH has been appointed as the lead design consultant on the project.

Meanwhile, at Ras Al Khaimah’s other key island destination, Mina Al Arab, leading community developer RAK Properties has launched its premium project – Quattro Del Mar. It has also expanded its partnership with Minor Hotels by introducing the upcoming Anantara branded residences.

Located on Hayat Island, Quattro Del Mar comprises four towers and promises an integrated lifestyle hub with entertainment and world-class facilities, set in a serene and captivating environment. Interconnected by skywalks, these towers offer majestic views, while an integrated podium ensures easy access to signature amenities such as a Zen garden and a miniature golf course, among others.

The Anantara Mina Al Arab Ras Al Khaimah Residences, which combines the tranquillity of traditional Thai design with the allure of Ras Al Khaimah, will include around 94 residential apartments and 20 overwater villas. RAK Properties and Minor Hotels’ initial collaboration led to the opening of the award-winning Anantara Mina Al Arab Ras Al Khaimah Resort earlier this year. 

RAK Properties has a string of other ongoing real estate development projects at Mina Al Arab, including Bay Residences, Bay Views, Cape Hayat and Marbella Villas. More than 75 per cent of the work has been completed on Bay Residences which comprises 661 apartments across four buildings; while the 344-unit Bay Views is set to get off the ground with around 70 per cent of the substructure work completion.

Substructure works have crossed the two-thirds complete mark on Cape Hayat, a luxury collection of residential apartments spanning 22,854 sq m, while finishing touches are being given to the townhouses and villas at Marbella Villas.

In Sharjah, the emirate’s leading real estate developer Arada is pushing ahead with its second mega project Masaar, where it has recently announced the completion of close to 1,000 homes. Masaar, the forested megaproject based in the Suyoh district, is now reported to be approaching the half-way mark with the completion of all 986 homes in the Kaya and Robinia districts, which make up the second and third phases of the master community.

The AED9.5-billion Masaar boasts 3,000 villas and townhouses over a 19-million-sq-ft masterplan, all set in six gated districts linked by the green spine. Construction on the remaining three phases of Masaar is currently under way. In June this year, Arada has awarded two contracts worth AED1.48 billion for the construction of Sequoia and Saro, the fifth and sixth phases of the mega woodland project, comprising 1,025 homes which are expected to be completed by summer 2026. 

A total of 430 homes in Masaar’s first phase were completed at the end of 2023.

Meanwhile, Arada intends to build a performing arts centre – Il Teatro – at its mega lifestyle community, Aljada, in Sharjah. Japanese architect Tadao Ando has been appointed as the designer for the fully fledged cultural complex spread over a 260,000-sq-ft area, which will include a 2,000-seat auditorium, a gallery and a boutique restaurant.

Also in Sharjah, another major real estate developer Alef Group has unveiled plans for the AED2.5-billion Olfah, which boasts the emirate’s largest private community park. This follows the recent launch of Nama 4 building as a part of Al Mamsha Raseel, situated within Zone 3 of its Al Mamsha development, Sharjah’s inaugural pedestrian-friendly community. The Nama cluster consists of 1,029 units spread across six buildings, with Nama 4 featuring 198 units, including one-, two- and three-bedroom apartments.

Alef Group is also developing the AED3.5-billion Hayyan Villa Community in Sharjah, where it has recently launched ‘Alma’ in Zone 2 of the community, which boasts a total of 1,882 units and extends over an area of 8.7 million sq ft. 

Elsewhere in the Northern Emirates, Dubai-based Sobha Realty has entered into an agreement with Umm Al Quwain Properties to launch a luxury real estate project on Al Siniya Island in Umm Al Quwain. Sobha Siniya Island aims to offer its residents a private waterfront neighbourhood, designated zones for non-motorised and motorised water vehicles, and a range of amenities, such as a family golf course, floating pavilion and an eco park. 

 

Other projects 

• Sharjah has appointed Saudi-listed Acwa Power to develop its first Independent Water Project (IWP) to help meet the increasing demand for potable water in the emirate. The Hamriyah IWP will be developed using seawater reverse osmosis (SWRO) technology. The plant will generate nearly 272,000 cu m per day of desalinated water by Q2 of 2027. Upon reaching full operations in Q3 2028, the plant’s capacity will reach 410,000 cu m/day of desalinated water sufficient to serve 1.4 million people.

• Construction work was launched in early June on the expansion of the terminal at Sharjah International Airport. The 190,000-sq-m terminal project is the largest phase of a series of expansion plans for the airport involving a total cost of AED2.4 billion and is expected to be completed in 2027. The new terminal itself will cost AED1.235 billion and will raise the airport’s capacity to 20 million passengers annually. The expansion will separate the arrivals from the departures and offer new systems and facilities.  Parsons International had won an AED51.5 million contract to serve as the project manager for the expansion project in May 2017. 

• The designs and location for a new Sports City in Sharjah have been approved by HH Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah. Work on the detailed designs is expected to start soon. The sports city, which will feature four sports complexes catering to both team and individual sports, includes a central square intersected by four main roads. At the centre of this main square will be the Sports City Stadium which has been designed as an architectural icon, embodying the concept of a bird soaring over sand dunes. 

• Dubai-based developer Kleindienst Group has signed a strategic agreement with RAK Ports for the establishment of a maritime facility which will fabricate floating residences and a giga-yacht in Ras Al Khaimah. This state-of-the-art shipyard will comprise four sections – Viking, Coral Garden, Tug and Ferry, said the developer. The first section, Viking will be involved in the design and construction of a 144-m giga-yacht, the first ever of its kind to be built outside of Europe.   The second section, Coral Garden, will focus on the construction of The Heart of Europe’s first-of-its-kind underwater living experience in the form of the Floating Seahorse Villas, the Floating Venice resort, the Floating Lido hotel, floating solar systems, and coral gardens and reefs transported from The Heart of Europe project, a $6-billion six-island destination within The World Islands, located 6 km off the coast of Dubai. The third section ‘Tug’ will handle the construction of barges, supply and transportation vessels, with plans to more than double the group’s current fleet. Finally, the “Ferry” section will be dedicated to passenger transportation, fishing boats, as well as sailing and diving boats. 

• Real estate boom
• Work commences on picturesque Oceano
• Avant-garde design for The Unexpected
• Projects at a glance

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