Ras Al Khaimah has not been spared the consequences of the Iran war, denting one of the UAE’s most dynamic property markets. A leading developer there is alreadyRas Al Khaimah has not been spared the consequences of the Iran war, denting one of the UAE’s most dynamic property markets. A leading developer there is already

RAK Properties outlines plan as Iran war tests market

2026/03/18 11:27
4분 읽기
이 콘텐츠에 대한 의견이나 우려 사항이 있으시면 crypto.news@mexc.com으로 연락주시기 바랍니다
  • CEO voices optimism
  • Taking steps to insulate business
  • Focus on local investors

Ras Al Khaimah has not been spared the consequences of the Iran war, denting one of the UAE’s most dynamic property markets. A leading developer there is already adjusting to the new reality. 

RAK Properties CEO Sameh Muhtadi has voiced optimism for the future, sharing with AGBI the steps being taken to insulate the business. 

Sales values in the once-quiet emirate rose more than 150 percent between 2022 and 2025, fuelled in part by the government’s plan to develop a casino resort. Investors had been buying units sight unseen, but that all feels distant as uncertainty spreads across the Gulf. 

Launches paused

“We haven’t been launching. We’ve mapped out a number of scenarios and decided that now is not the time to launch new projects,” he said. “It doesn’t make sense. We’ve postponed them until May, with the belief things are going to be clear by then.”

Off-plan developments used to sell out in hours. Just being in the same city as the country’s first legal casino was convincing enough for most buyers. 

RAK Properties will open tenders for its Nikki Beach hotel and homes project next week, with the CEO saying awards are still going out, though selectively. Work on its plot in Marjan Beach is on hold, he said. 

For 2025, sales at the state-backed real estate developer grew by 142 percent from the prior year to AED3.4 billion ($926 million).

Accessories, Formal Wear, Tie Sameh Muhtadi, CEO of RAK Properties, remains optimisticSupplied
Sameh Muhtadi, CEO of RAK Properties, remains optimistic
Local focus

In the past month, the company’s share price has dropped 41 percent. Seventy percent of sales come from international investors, the CEO said. 

“If there is a drop, most of the people familiar with the UAE realise this is a temporary glitch. The demand will continue from the local market,” he said. 

One of the company’s biggest bets now is on a “huge” landbank earmarked for family homes for UAE residents. Until now, the emirate’s focus has been mainly on glamorous beachfront apartments that outside investors would snap up, with townhouses and villa developments “ignored”, according to Muhtadi. 

“We’re diversifying. That’s a healthy direction. Our branded apartments will continue to be offered to an international market, but we’re also going to address the local market,” he said. 

RAK’s population is about 400,000, according to official data, around a tenth of Dubai’s. 

He clarified that the family homes project has been in discussion since before the Iran war, but that it is needed now more than ever. 

Prices on hold

As for prices in the emirate, Muhtadi said they “can’t be lower”, adding that a cocktail of rising construction costs and tight margins would force his hand. “I anticipate the growth of inflationary pressure on construction costs. We have to mitigate that. However temporary that might be, any tender we get today is going to be super-inflated by potential risks,” he said. 

Lowering prices is undesirable since it would be hard to raise them again once the conflict subsides, the CEO said. He added that if other developers drop, his company would have to follow. 

“If we see every developer in Ras Al Khaimah is pricing below us, we need to evaluate what premiums our properties can demand. We have no intent at this stage to start reducing prices.”

RAK on average is a cheaper market than Dubai. In 2025, overall apartment prices sat at AED1,128 per square foot, while villas reached AED1,166 per sq ft, according to data from CBRE last month. 

Dubai’s average was AED1,510 per sq ft for an apartment and AED1,480 per sq ft for a villa last year, according to Dubai Land Department data collated by property analyst DXB Interact. At the high end, however, some RAK apartments are more costly than Dubai’s, particularly those near the upcoming casino.

Further reading:

  • RAK Properties profit up 44% as sales swell
  • Dubai hotels urged to hold rates after Iran war occupancy drop
  • Wynn resumes work on UAE casino after Iran war drone scare
Terms with contractors

At a time when potential inflation brings uncertainty, RAK Properties is laying out terms in which it decides the prices of materials, with contractors able to renegotiate down the line. 

“Instead of the contractor making assumptions on prices, we will tell them. We will select the most favourable suppliers,” Muhtadi said.

“It’s not kicking the can down the road, but the timing now for contracting is not favourable at all. People don’t know what’s happening or the logistical complexities, so they will throw money at things. That is not beneficial for us.”

시장 기회
Notcoin 로고
Notcoin 가격(NOT)
$0.0004137
$0.0004137$0.0004137
+0.07%
USD
Notcoin (NOT) 실시간 가격 차트
면책 조항: 본 사이트에 재게시된 글들은 공개 플랫폼에서 가져온 것으로 정보 제공 목적으로만 제공됩니다. 이는 반드시 MEXC의 견해를 반영하는 것은 아닙니다. 모든 권리는 원저자에게 있습니다. 제3자의 권리를 침해하는 콘텐츠가 있다고 판단될 경우, crypto.news@mexc.com으로 연락하여 삭제 요청을 해주시기 바랍니다. MEXC는 콘텐츠의 정확성, 완전성 또는 시의적절성에 대해 어떠한 보증도 하지 않으며, 제공된 정보에 기반하여 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다. 본 콘텐츠는 금융, 법률 또는 기타 전문적인 조언을 구성하지 않으며, MEXC의 추천이나 보증으로 간주되어서는 안 됩니다.

추천 콘텐츠

Fan Token Firm Chiliz Acquires 2-Time ‘Dota 2’ Champions, OG Esports

Fan Token Firm Chiliz Acquires 2-Time ‘Dota 2’ Champions, OG Esports

The post Fan Token Firm Chiliz Acquires 2-Time ‘Dota 2’ Champions, OG Esports appeared on BitcoinEthereumNews.com. In brief The Chiliz Group has acquired a controlling stake in OG Esports, a prominent competitive gaming organization. OG Esports unveiled its own fan token on Chiliz’s Socios.com platform back in 2020. It recently hit an all-time high price. Chiliz has teased various future team-related benefits for OG token holders, along with a new Web3-related project. The Chiliz Group, which operates the Socios.com crypto fan token platform, announced Tuesday that it has acquired a 51% controlling stake in OG Esports, the competitive gaming organization founded in 2015 by Dota 2 legends Johan “nOtail” Sundstein and Sébastien “Ceb” Debs. OG made history as the first team to win consecutive titles at The International—the annual, high-profile Dota 2 world championship tournament—in 2018 and 2019, and has since expanded into multiple games including Counter-Strike, Honor of Kings, and Marvel Rivals. The team was also the first esports organization to join the Socios platform with the 2020 debut of its own fan token, which Chiliz said recently became the first esports team token to exceed a $100 million market capitalization. OG was recently priced at $16.88, up nearly 9% on the day following the announcement. The token’s price peaked at a new all-time high of $24.78 last week ahead of The International 2025, where OG did not compete this year. Following the acquisition, Xavier Oswald will assume the CEO role, while the co-founders will turn their attention to “a new strategic project consolidating the team’s competitive foundation [and] driving innovation at the intersection of esports and Web3,” per a press release. No further details were provided regarding that project. “Bringing OG into the Chiliz Group is a major step toward further strengthening fan experiences, one where the community doesn’t just watch from the sidelines but gets to shape the journey,” Chiliz CEO Alex Dreyfus…
공유하기
BitcoinEthereumNews2025/09/18 09:40
XRP vs Chainlink 2026: Ghost Chain Accusation, Ripple CTO Response, and the Full Debate Explained

XRP vs Chainlink 2026: Ghost Chain Accusation, Ripple CTO Response, and the Full Debate Explained

The post XRP vs Chainlink 2026: Ghost Chain Accusation, Ripple CTO Response, and the Full Debate Explained appeared first on Coinpedia Fintech News The latest XRP
공유하기
CoinPedia2026/03/18 12:47
US Life Insurance Industry Statistics 2026: Growth Facts

US Life Insurance Industry Statistics 2026: Growth Facts

In the ever-evolving landscape of the US life insurance industry, millions of Americans rely on these policies to secure their families’ financial future. With
공유하기
Coinlaw2026/03/18 12:36