Ras Al Khaimah’s luxury property market has achieved an unprecedented milestone with the historic sale of the Sky Palace at Waldorf Astoria Residences for Dh130 million ($35.4 million), establishing a new benchmark as the highest-value single-unit residential transaction ever recorded in the emirate.
The landmark transaction, announced by developer Al Hamra, was accompanied by the separate sale of the development’s signature penthouse for Dh55 million ($15 million), collectively demonstrating robust investor appetite for ultra-premium waterfront properties in the northern emirate.
This record-breaking sale occurs amid Ras Al Khaimah’s remarkable transformation into one of the UAE’s most dynamic real estate markets. The emirate’s strategic infrastructure investments, government-supported initiatives, and growing portfolio of branded residential developments have propelled its emergence as a premier investment destination.
Market data reveals substantial property appreciation throughout 2025, with villa prices in Al Hamra Village surging by 42 percent and five-bedroom homes exceeding Dh14 million. Apartments similarly demonstrated strong growth, driven by heightened investor participation and sustained demand for resort-style communities.
The Sky Palace itself represents the pinnacle of luxury living, occupying the top three floors of the beachfront tower across approximately 10,000 square feet. The residence offers breathtaking panoramic views of the Arabian Gulf, Wynn Al Marjan Island integrated resort, and surrounding mountain ranges. Residents enjoy exclusive access to premium amenities including private lounges, a library, cigar salon, and cinema facilities, complemented by a dedicated ferry connection to the entertainment offerings of Wynn Al Marjan Island.
Benoy J. Kurien, Group Chief Executive Officer of Al Hamra, emphasized that these transactions reflect growing confidence in Ras Al Khaimah’s long-term economic trajectory and the increasing appeal of meticulously designed luxury developments that meet international standards.
These landmark sales not only establish new parameters for ultra-luxury real estate in the region but significantly enhance Ras Al Khaimah’s positioning as an emerging global hub for high-net-worth investors seeking sophisticated lifestyle investments.