Ras Al Khaimah's ultra-luxury residence sells for record-breaking Dh130 million

A record-setting residential transaction has been completed in Ras Al Khaimah with the sale of the Sky Palace at the Waldorf Astoria Residences, marking the highest-value single-unit home ever recorded in the emirate. The ultra-luxury residence was sold for $35.4 million (Dh130 million), reflecting growing demand for premium waterfront living in the northern emirate.

The sale was announced by Al Hamra, which also confirmed a separate transaction involving the development's signature penthouse, sold for $15 million (Dh55 million). Together, the two deals highlight continued appetite for high-end, lifestyle-focused homes and underline the developer's ability to deliver luxury residential projects to international standards.

Ras Al Khaimah has been steadily transforming into one of the UAE’s most active real estate markets, supported by large-scale infrastructure investment, government-led initiatives, and a rising number of branded residential developments. Market research indicates the sector is entering a more mature phase, with strong fundamentals underpinning recent growth.

Stay up to date with the latest news. Follow KT on WhatsApp Channels.

In 2025, residential property prices across the emirate rose for both villas and apartments, driven by higher demand, increased investor participation, and strong interest in waterfront and resort-style communities. Ras Al Khaimah is now among the UAE’s fastest-growing property markets, with notable gains in both property values and rental yields.

Data released by Bayut shows villa prices in Al Hamra Village rose by 42 per cent in 2025, with five-bedroom homes exceeding Dh14 million, while apartment prices also recorded solid growth over the same period.

The Sky Palace occupies the uppermost floors of the beachfront Waldorf Astoria Residences tower and spans approximately 10,000 square feet across three levels. Designed to offer exceptional privacy and scale, the residence provides uninterrupted views of the Arabian Gulf, the Wynn Al Marjan Island integrated resort, and the surrounding mountains.

Residents have access to exclusive amenities on a dedicated floor, including a residents’ lounge, library, cigar lounge, and private cinema. A private ferry connection links the development to Wynn Al Marjan Island, offering seamless access to dining, entertainment, and leisure attractions while maintaining a discreet residential setting.

The signature penthouse, also located within the tower, spans around 6,000 square feet across two floors and offers 360-degree panoramic views. Designed with an emphasis on privacy and refined living, it represents a new standard for luxury coastal homes in the emirate.

Commenting on the milestone, Benoy J. Kurien, Group Chief Executive Officer of Al Hamra, said the record-breaking sale reflects confidence in Ras Al Khaimah’s long-term growth and the increasing appeal of high-quality, well-designed residential developments.

The two landmark transactions set a new benchmark for ultra-luxury real estate in Ras Al Khaimah and further strengthen the emirate’s position as an emerging global lifestyle and investment destination.