Sky Palace Sets Historic Sale Record

Record-Breaking Sale: Sky Palace in Ras Al Khaimah

Ras Al Khaimah, located in the northern part of the United Arab Emirates, has reached a new milestone in the luxury real estate market. The sale of the Sky Palace, located on the upper floors of the Waldorf Astoria Residences building, not only marks a record in the emirate's history but also signals an increasing global interest from wealthy buyers in premium waterfront living spaces.

Sky Palace Sale Sets a Record

The Sky Palace, spanning three levels and nearly 10,000 square feet, changed hands for 130 million dirhams. This amount is the highest recorded price for a single residential property in the history of Ras Al Khaimah. The property occupies the top floors of the exclusive Waldorf Astoria Residences building directly on the beach, offering a panoramic view that spans the vast waters of the Arabian Gulf, the Wynn Al Marjan Island integrated resort, and the mountains in the background.

A New Level of Luxury

The Sky Palace stands out not just for its size or location. Residents enjoy amenities available on a dedicated floor: a private cinema, library, cigar lounge, and a lounge reserved for residents only. Private ferry access for the residents of the Waldorf Astoria building ensures a connection to the Wynn Al Marjan Island entertainment and hospitality complex—all while maintaining the discreet and enclosed residential environment.

Other Significant Transactions

This was not the only high-value transaction in the project: another iconic property, the so-called "signature penthouse," also found a new owner for 55 million dirhams. This two-story, approximately 6,000 square-foot home offers a 360-degree view and embodies sophistication in every detail. Together, these two sales send a message: there is a real demand in Ras Al Khaimah for homes that cater to a high-end lifestyle at an international level.

Ras Al Khaimah in Transformation

The Al Hamra company, which announced the transactions, emphasized that buyers not only valued the premium location and design quality but also recognized the long-term growth potential that Ras Al Khaimah holds. The emirate has undergone intense transformation in recent years. Large-scale infrastructure investments, government incentive programs, and an increase in branded residential projects have all contributed to making Ras Al Khaimah one of the UAE's fastest-growing real estate markets.

Strengthening Market Fundamentals

In 2025, property prices have significantly risen in the emirate—both for villas and apartments. Demand comes not just from local buyers but from international investors as well, particularly in waterfront and leisure zone communities. According to data from Bayut, villa prices in the Al Hamra Village area increased by 42 percent. Five-bedroom villas here now reach up to 14 million dirhams, and the price increase for apartments was also significant.

Increasing Demand for Premium Living

Demand for ultra-luxury properties is not just about housing. These buyers—whether investors or those living there full-time—are looking for a lifestyle that combines elegance, comfort, and a wide range of private services. Brands like Waldorf Astoria further enhance the projects' value and international appeal. The beachfront location, breathtaking views, and high-quality communal spaces offer an experience that rivals the world's most renowned luxury residential complexes.

Investor Confidence and Growth

The CEO of Al Hamra, while praising the transactions, emphasized that these sales are not just records but also votes of confidence in their development competence and the future of the Ras Al Khaimah market. In the long term, the emirate attracts more and more investors who no longer focus only on Dubai or Abu Dhabi. The presence of big brands, a stable economic environment, and city development programs aimed at sustainable growth together strengthen Ras Al Khaimah's position on the global real estate investors' map.

Summary

The sale of the Sky Palace and the related penthouse is not just a matter of two remarkable transactions but a sign of a new era in Ras Al Khaimah's luxury real estate market. The demand for beachfront living, quality design, and premium services has reached a new level, and it seems the market is ready to meet this demand. The record-breaking sales also communicate that Ras Al Khaimah now offers not just the tranquility of nature but the promise of true luxury living—under the shadow of Dubai, but with its own character and momentum.

(Source: Based on a statement from Sky Palace.)