Major Developers Powers Ras Al Khaimah’s Ambitious Growth Trajectory with Real Estate Investments on Al Marjan Island

Emirate projected to host 650,000 residents and welcome Roughly 6 million annual visitors by 2030 says new report

Ras Al Khaimah, UAE; 28 November 2024– Ras Al Khaimah’s real estate and tourism sectors are set for remarkable expansion, fuelled by robust international interest and forward-looking projects.

The latest report from Al Marjan Island projects a 50-62% population increase by 2030 and a substantial rise in tourism—anticipated to attract over 5.5 million visitors annually by 2030, a transformative leap for the emirate.

Major Developers is strategically positioned to drive and meet this growing demand, with investments aligned to build a future-ready, thriving community in Ras Al Khaimah.

The ambitious plans for Ras Al Khaimah envision a population surge to as many as 650,000 residents by 2030. This unprecedented growth, coupled with the launch of major integrated mega projects will shape the emirate into a high-demand destination for investors, residents, and tourists alike.

Major Developers is leveraging this momentum by focusing on innovative, sustainable real estate developments that meet the emirate’s evolving needs for residential, hospitality, and retail infrastructure.

“The growth we’re seeing in Ras Al Khaimah is both extraordinary and strategically aligned with our vision at Major Developers,” said Andrei Charapenak, CEO of Major Developers. “By investing in high-quality, sustainable projects, we are not only addressing immediate market demands but also laying the groundwork for a robust, long-term future. Our developments will cater to the lifestyle and economic aspirations of a growing population and a diverse investor base.”

Building for a New Wave of Visitors and Residents

With tourism expected to skyrocket to 5.5 million visitors by 2030 and create demand for an additional 45,000 residential units, Major Developers is taking decisive steps to contribute to the region’s future landscape. The hospitality sector, buoyed by an estimated need for 6,000 additional hotel keys by 2030, offers expansive growth opportunities that real estate companies will harness, positioning the emirate as an attractive, eco-friendly destination.

Through strategic investments in premium residential communities and mixed-use developments, Major Developers is supporting Ras Al Khaimah’s ambition to expand its hospitality and residential markets. The company’s projects are designed to address the emirate’s residential market gap and bolster its appeal as a hub for international investment.  

Supporting Ras Al Khaimah’s Economic and Employment Boom

The projected influx of residents and visitors will also drive economic growth, with an expected 14,000 new jobs created by 2030 across the hospitality and real estate sectors. Additionally, the long-term economic impact of new developments is expected to boost Ras Al Khaimah’s GDP, with recurring revenue contributions of up to $3.68 billion annually.

A Future-Ready Real Estate Vision

Major Developers’ commitment to innovative, sustainable, and investor-focused projects is poised to support Ras Al Khaimah’s dynamic transformation. As the emirate continues to evolve as a major real estate and tourism hub, Major Developers is dedicated to creating high-quality, enduring properties that meet the needs of a diverse and expanding community. “We are thrilled to be a pivotal part of Ras Al Khaimah’s growth,” added Charapenak. “Our developments are designed to offer a blend of luxury and sustainability, appealing to residents, tourists, and investors. We look forward to contributing to the emirate’s future by building properties that resonate with the aspirations of a global audience.”