Major Developers is aiming to power Ras Al Khaimah’s ambitious growth targets in real estate and tourism sectors that 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 said it 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, a statement said.

Major Developers said it 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.”

With tourism expected to skyrocket to 5.5 million visitors by 2030 and create demand for an additional 45,000 residential units, the company said it 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 said its projects are designed to address the emirate’s residential market gap and bolster its appeal as a hub for international investment. 

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. - TradeArabia News Service