Ras Al Khaimah, September 10, 2025: Marjan, the emirate’s master developer, is set to unveil a major new project before year-end 2025, following the complete sell-out of plots at RAK Central in Al Hamra. The move underscores Ras Al Khaimah’s growing appeal as a property and lifestyle destination, with demand boosted by the upcoming $3.9 billion Wynn Al Marjan Island mega resort.

Seen as a game-changer for tourism and real estate, the Wynn project is set to open in 2027 with 1,500 rooms, positioning Ras Al Khaimah as a global destination. Marjan’s new master plan, expected to be larger than Al Marjan Island, will target residential and mixed-use opportunities at a strategic location.

In a report by The National, Marjan chief executive Abdulla Al Abdouli said the unnamed master plan “will be targeting residential and others as well and will be bigger than Al Marjan Island.” He did not disclose further details but confirmed it will be built in a “strategic location” in Ras Al Khaimah, with Marjan as the main investor.

“We will invite well-known reputable developers to be part of that journey,” Mr. Al Abdouli said.

Marjan is driving the emirate’s real estate growth through landmark projects such as Al Marjan Island, a 2.7 million sqm reclaimed waterfront, and the mixed-use RAK Central. The $3.9 billion Wynn Al Marjan Island, opening in 2027 with 1,500 rooms, is set to become the UAE’s first gaming resort, elevating tourism and driving fresh investment into Ras Al Khaimah. Meanwhile, RAK Central spans over 8 million sq ft and will deliver 4,000 residences, four hotels, and extensive office, retail, and entertainment space by 2030, positioning it as a key business and lifestyle hub.

More than 20 developers are involved, including BNW Developments and Pantheon, Mr. Al Abdouli said. The RAK Central HQ, set to become the flagship business hub of the development, is scheduled for completion in early 2027.

In the same report, “We launched RAK Central around January 2024 and today, all of the plots in this master plan are sold out. We finished all of the related infrastructure and we are enabling developers to start building for the project,” he added, noting the project will host more than 5,000 professionals.

“When you look at RAK Central, it’s a mixed-use [project], offering commercial spaces for all those companies who would like to establish a base in Ras Al Khaimah and start doing businesses, whether existing businesses or new businesses. We are expecting international brands and companies to open offices in Ras Al Khaimah.”

Ras Al Khaimah’s property market is buoyed by steady economic growth, with the economy forecast to expand by an average of 4.2% through 2027, driven by tourism, real estate, and manufacturing, according to S&P Global.

The same report added: “We expect upcoming tourism projects and related infrastructure spending to help strengthen RAK's mining sector as well as its economic free zones, airport and real estate sector.”

Hospitality accounts for 4% of Ras Al Khaimah's GDP and real estate 7%, but “these proportions will likely increase with new projects ramping up,” the report said.

The emirate’s property sector is gaining momentum post-Covid, supported by golden visas, retirement and remote work residency options, and the UAE’s diversification push. Leading developers, including Aldar, Dubai Investments, Dar Global, and Damac, are rolling out fresh projects across the emirate.

Ras Al Khaimah’s housing supply is set to double by 2030, with over 11,000 new units expected to be delivered from projects launched through 2024, according to Savills.

“The gap [between demand and supply] is huge and we need to ensure that we have enough real estate inventory,” Mr. Al Abdouli said. Along with Wynn’s anticipated opening, overall growth in Ras Al Khaimah’s economy is supporting the market, he added.

Apartment prices in Ras Al Khaimah rose 18% year-on-year in Q2 2025, led by a 21% surge on Al Marjan Island, Colliers reported.

With new master plans, landmark projects, and surging investor interest, Ras Al Khaimah is rapidly cementing its position as one of the UAE’s most dynamic real estate and tourism hubs.