The sale of the Sky Palace at Waldorf Astoria Residences for US$35.4 million marks the highest residential transaction recorded in Ras Al Khaimah emirate of UAE
DUBAI, UNITED ARAB EMIRATES, January 21, 2026 /EINPresswire.com/ — Al Hamra, a leading master property developer in UAE’s Ras Al Khaimah emirate, has announced the sale of the Sky Palace at the Waldorf Astoria Residences Ras Al Khaimah for US$35.4 million (Dh130 million), marking the highest-value single-unit residential transaction ever recorded in Ras Al Khaimah.
In a separate transaction, Al Hamra has also completed the sale of the development’s signature penthouse for US$15 million (Dh55 million) — further underscoring demand for best-in-class, lifestyle-led homes in the Emirate.
Together, these milestone sales reinforce Al Hamra’s position among the UAE’s most trusted and reliable developers, with a proven ability to conceive, build, market and deliver luxury residential spaces to international standards.
According to a number of research reports, Ras Al Khaimah is rapidly evolving from a quiet northern emirate into one of the UAE’s most dynamic investment hotspots. Fuelled by major infrastructure spending, strategic government mergers, and a profound influx of luxury-branded residences, the real estate sector has logged growth figures that indicate a fundamental maturation of the market.
In 2025, Ras Al Khaimah’s residential market saw price growth for both villas and apartments. This was driven by higher demand, more investors, and growing interest in waterfront and resort-style communities. The emirate is becoming one of the UAE’s fastest-growing real estate markets, with both property values and rental yields rising in several areas.
Villa prices in Al Hamra Village jumped 42 per cent in 2025, with five-bedroom homes exceeding Dh14 million, while apartment prices also saw strong gains, according to new data released by Bayut.
A one-of-one residence above the coastline, the Sky Palace at the Waldorf Residences, Ras Al Khaimah, spans approximately 10,000 square feet across three levels and crowns the uppermost floors of the beachfront tower. It is designed to offer exceptional scale, privacy and uninterrupted views across the Arabian Gulf and the Wynn Al Marjan Island integrated resort on one side and the mountains on the other.
The Sky Palace owner also benefits from access to a suite of private residents’ amenities on the 16th floor, including a residents’ lounge, library, cigar lounge and a private cinema. A dedicated ferry connection to the region’s first integrated resort, the Wynn Al Marjan Island provides seamless access to world-class dining, entertainment and leisure, while preserving the privacy of a refined residential address.
The signature penthouse, also part of the beachfront tower, spans approximately 6,000 square feet across the 19th and 20th floors and offers 360-degree panoramic views. Thoughtfully planned for privacy and sophistication, it brings elevated coastal living to one of Ras Al Khaimah’s most distinctive waterfront settings.
Commenting on the milestone, Benoy J. Kurien, Group Chief Executive Officer of Al Hamra, said: “The Sky Palace embodies our vision for luxury living in Ras Al Khaimah, where exclusivity, scale, and quality of life converge to create lasting value. This record-setting sale reflects not only the market’s confidence in the Emirate’s growth trajectory, but our belief that the most enduring investments are those that enrich how life is lived.”
With these two landmark transactions, Al Hamra has set a new benchmark for ultra-luxury residential development in Ras Al Khaimah and has strengthened the Emirate’s position as a global lifestyle and investment destination.
Saifur Rahman
Pan Asian Media MFZ LLC
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