A landmark residential transaction has been completed in Ras Al Khaimah, with the sale of the Sky Palace at 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 robust investor appetite for premium waterfront living.
Al Hamra, the developer, also confirmed a separate transaction involving the property’s signature penthouse, sold for $15 million (Dh55 million). Together, the two deals underscore continued confidence in high-end, lifestyle-focused residential developments in the region and strengthen Ras Al Khaimah’s position as an emerging investment destination.
Property Features and Amenities
The Sky Palace occupies the uppermost floors of the beachfront tower, spanning approximately 10,000 square feet across three levels. Designed for maximum privacy and scale, the residence offers uninterrupted views of the Arabian Gulf, the Wynn Al Marjan Island integrated resort, and surrounding mountains.
Residents benefit from 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 facilities while maintaining privacy.
The signature penthouse spans approximately 6,000 square feet across two floors and provides 360-degree panoramic views. Both units represent a refined standard for luxury coastal living in the emirate.
Market Context and Growth Trajectory
Ras Al Khaimah has undergone significant transformation into one of the UAE’s most active real estate markets, driven by large-scale infrastructure investment, government initiatives, and branded residential developments. The sector is entering a more mature phase with strong fundamentals supporting recent growth.
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. Data from Bayut shows villa prices in Al Hamra Village rose by 42 percent in 2025, with five-bedroom homes exceeding Dh14 million, while apartment prices recorded solid gains over the same period.
“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,” said Benoy J. Kurien, Group Chief Executive Officer of Al Hamra.
The two landmark transactions set a new benchmark for ultra-luxury real estate in Ras Al Khaimah and further establish the emirate as a global lifestyle and investment destination, complementing broader UAE infrastructure development initiatives that have strengthened the region’s appeal.
