UAE: Dh2 million prize for top investor, real estate agent in RAK sales

Marjan Unveils Dh2 Million Prize to Boost Ras Al Khaimah Real Estate Market

To further invigorate the real estate sector in Ras Al Khaimah, Marjan, the emirate’s master developer of freehold properties, announced a Dh2 million prize initiative aimed at encouraging more investments and transactions. This announcement was made by Abdulla Al Abdouli, CEO of Marjan, during the recent ‘Future of Ras Al Khaimah Conference’.

Prize Details
The prize will be distributed as follows: Dh1 million will be awarded to the individual investor who contributes the most to the RAK market, while another Dh1 million will be given to the real estate broker or agent who achieves the highest sales by the end of the year. The initiative allows participants until December 31 to qualify, offering a significant incentive for increased engagement in the market.

Goals of the Initiative
Al Abdouli stated that this reward program is designed to stimulate activity within the real estate sector, reinforcing Marjan’s commitment to driving market growth as they aim for ambitious targets set for 2025. The program underscores the potential of Ras Al Khaimah as a lucrative investment destination and is expected to attract both local and international investors.

Growth in Luxury Property Sales The emirate is witnessing a remarkable surge in luxury property sales, highlighted by the recent record sale of two high-end units totaling Dh180 million. Al Abdouli emphasized that such milestones demonstrate the dedication of local developers to establish high standards in the real estate market. Additionally, a leading developer has achieved a new selling price benchmark of Dh6,300 per square foot, attributed to Almal Real Estate Development, which has reported the highest unit sales in the region. These developments positively impact the overall market dynamics in Ras Al Khaimah.

Future Developments
Marjan is also launching RAK Central, a master plan that aims to create a modern work-live destination focusing on environmental sustainability. This project is intended to attract both residents and businesses, ensuring a balanced approach to supply and demand while preserving the unique heritage of Ras Al Khaimah.

Furthermore, Al Marjan Island continues to develop strategically important lots for investors, reinforcing Ras Al Khaimah’s position as a prime destination that harmonizes livability with growth potential. Looking ahead, future projects such as Wynn Al Marjan Island—the first integrated gaming resort in the Middle East and North Africa (MENA) region—are projected to open in 2027. These initiatives are expected to create a vibrant and sustainable community, attracting a diverse range of visitors and residents to the area, according to Al Abdouli.

The introduction of the Dh2 million prize and the ongoing development projects reflect Marjan’s strategic vision for the future of Ras Al Khaimah’s real estate market, aiming to foster a thriving community that balances economic growth with environmental sustainability.