Ras Al Khaimah, January 22, 2026 : Al Hamra has set a new benchmark in Ras Al Khaimah’s luxury real estate market with the sale of the Sky Palace at the Waldorf Astoria Residences Ras Al Khaimah for USD 35.4 million (AED 130 million), marking the highest-value single-unit residential transaction ever recorded in the emirate.
In a separate high-profile deal, the developer also completed the sale of the development’s signature penthouse for USD 15 million (AED 55 million), further highlighting the growing demand for premium, lifestyle-driven residential offerings in Ras Al Khaimah.
Together, the two landmark transactions reinforce Al Hamra’s standing as one of the UAE’s most trusted real estate developers, showcasing its capability to conceptualize, deliver, and market ultra-luxury residential projects that meet international standards.
The Sky Palace is a one-of-a-kind residence crowning the uppermost levels of the beachfront Waldorf Astoria Residences tower. Spanning approximately 10,000 square feet across three levels, the home offers unmatched scale, exclusivity, and privacy. Residents enjoy sweeping, uninterrupted views of the Arabian Gulf, the upcoming Wynn Al Marjan Island integrated resort, and the rugged Hajar Mountains.
Owners of the Sky Palace benefit from exclusive access to private residents’ amenities located on the 16th floor, including a residents’ lounge, library, cigar lounge, and private cinema. A dedicated ferry service connects residents directly to Wynn Al Marjan Island, providing seamless access to world-class dining, entertainment, and leisure while maintaining the privacy of an elite residential address.
The development’s signature penthouse, also housed within the beachfront tower, spans approximately 6,000 square feet across the 19th and 20th floors. Designed with privacy and refinement in mind, the residence offers 360-degree panoramic views, redefining elevated coastal living in one of Ras Al Khaimah’s most sought-after waterfront locations.
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 milestone transactions, Al Hamra has set a new standard for ultra-luxury residential development in Ras Al Khaimah, further strengthening the emirate’s profile as an emerging global lifestyle and investment destination.
