A GREAT INVESTMENT “One of the many reasons international companies choose Ras Al Khaimah is because it has a strong, resilient, and diversified economy, and a long-term growth environment offering attractive returns,” says Phillips. For global investors looking for a beachfront property in the UAE, RAK is a great alternative to the pricier markets of Dubai and Abu Dhabi. Jackie Johns, Managing Partner of Christie’s International Real Estate Dubai, sees RAK as a solid future investment opportunity. “International hotel brands setting up shop in Ras Al Khaimah have seen a sharp increase in tourism, and this is being matched by luxury residences that are already reaping rewards for their owners,” she says. SUPERIOR LIFESTYLE While Ras Al Khaimah is primarily an investment market, it’s also becoming a great place to live. Compared with Dubai and Abu Dhabi, RAK still has space and supply. The Hajar Mountains provide a rugged backdrop for relaxed living, and new villa developments are coming to island locations. Prices are considerably more attractive in Ras Al Khaimah, too. “Our exclusive inventory in RAK includes MASA Residence, 396 ultra-luxury residences with branded interiors and uninterrupted sea views on Al Marjan Island,” says Johns. Prices per square foot start at around AED 1,900 ($517). “Trying to obtain the same level of branded interiors, sea views, and island luxury is impossible in the pricier Dubai market.” Outdoorsy types can head to Jebel Jais, the UAE’s highest mountain, to hike the trails; sip coffee on the deck at 1484 by Puro, the country’s highest restaurant; or scream their way down the Jais Flight, the world’s longest zipline. Over in the desert, the Al Wadi Nature Reserve offers camel trekking, horseback riding, and falconry, along with Arabian-inspired spa treatments at the Ritz-Carlton Ras Al Khaimah, Al Wadi Desert resort; dinners among the dunes at Sonara Camp; and hot-air balloon experiences with ActionFlight.
Ras Al Khaimah also holds its history and heritage close. The emirate is home to the region’s first pearl farm, established by Abdulla Al Suwaidi. The pearl farm was built on Al Suwaidi’s desire to ensure this part of RAK’s heritage wasn’t lost, but it also plays a contemporary role. Of the 32,000 pearls grown here each year, only 60% are of a quality suitable for jewelry. However, “the lower- grade pearls hold immense value in the fields of medicine, cosmetics, and pharmaceuticals. This aligns with our vision that every pearl harvested serves a purpose,” Al Suwaidi says.
It’s a suitably forward-thinking approach born out of an emirate that may be perceived as secondary to Dubai and Abu Dhabi, but that is carving out its own niche. While Ras Al Khaimah may be an off-the-radar destination for now, it’s unlikely to remain so for much longer.
ASPIRE ON THE SHORE // 45
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