Alternatives to Dubai in the UAE: buying property in Sharjah, Abu Dhabi, Ras Al Khaimah and Ajman

When considering promising areas of the UAE real estate market, the most popular destination is Dubai. However, today other emirates are actively developing in the country. They create comfortable conditions for living and working, and housing prices have not yet reached their peak. Investors and homebuyers in the UAE should consider promising emirates such as Ras Al Khaimah, Sharjah, Abu Dhabi and Ajman.

Content:

• Ras Al Khaimah
• Abu Dhabi
• Ajman
• Sharjah

Ras Al Khaimah

Located in the north of the UAE, the emirate of Ras al-Khaimah differs from the rest of the country as the Hajjar Mountains run along its eastern border. The region stretches along the Persian Gulf, and its coastline is 64 km long. It is home to sandy beaches, bays, lagoons and mangroves.

The advantages of the emirate include the following facts:

• The average temperature is 3–5 degrees lower than in Dubai;
• There are no strict clothing restrictions for foreigners;
• It is permitted to sell alcohol;
• There are free economic zones with friendly conditions for doing private business and developing start-ups. For example, more than 15,000 companies operate in the Ras Al Khaimah Economic Zone.

Ras Al Khaimah is developing as a tourist region of the UAE. Today, you can still profitably buy promising real estate here, since prices have not reached their maximum. A new highway is being built in the emirate, which will allow you to get to Dubai in just 30 minutes. The airport is also expanding.

Interest in local real estate has grown significantly after the launch of the first casino project in the area, surrounded by luxury hotels. The casino in Al Marjan Island is scheduled to open in 2025. After the project was announced, the cost of housing in Ras al-Khaimah jumped by 30-65%.

Buying property in this area is a great investment solution because:

• There are freehold areas where foreigners are allowed to own apartments, houses and commercial property.
• Prices are lower than for similar properties in Dubai.
• Return on investment for housing reaches 7%.
• Real estate prices increase considerably due to the active development of the region and the attraction of foreign investors.
• Property hunters can buy an apartment or house in instalments during the construction phase.
• Bonuses for buying an apartment or villa from developers, for example, a free business license and a resident visa.

In the emirate, you can buy both move-in ready and off-plan apartments, villas, and townhouses. Property prices differ depending on its type and class. For example, in the new Bay Residences residential complex on Hayat Island, a 1-bedroom apartment is being sold for AED 730,000 ($199,000), while the cost of a finished 3-story townhouse with 3 bedrooms in the Bayti Townhomes complex is AED 1.43 million ($390,000).

Abu Dhabi

Abu Dhabi is a coastal metropolis that is the industrial, political, cultural and educational hub of the UAE. The demand for real estate in this area is gradually catching up with Dubai. From 2020 to 2022, Abu Dhabi was the most livable city in the Middle East, according to analysts from the Economist Intelligence Unit. In addition, the emirate has ranked the safest place for six years in a row according to the Numbeo index.

Abu Dhabi consists of numerous islands with picturesque beaches, natural mangrove parks and canals. At the same time, the emirate has a well-developed infrastructure for living, working, studying and doing business. There are 5 free economic zones on the territory of the location, where foreign citizens can conduct private business.

The main advantages of buying property in Abu Dhabi are:

• High liquidity of housing.
• Annual price increase. In 2022, the cost of local villas and apartments increased by an average of 8%. And in the popular island communities of Saadiyat and Al Raha Beach, the housing prices have increased by 10%.
• ROI of 7–8% per year.
• Opportunity for foreigners to buy property in designated freehold zones, including popular Yas Island, home to the Ferrari World theme park, and Saadiyat Island, which houses Louvre Abu Dhabi, various museums and art galleries.
• Discounts and instalment plans from developers when buying off-plan units.

Real estate prices in the capital of the UAE are comparable to those in Dubai. For example, a 1-bedroom apartment in Louvre Abu Dhabi Residences is on sale for AED 2.35 million ($640,000). The cost of a high-end 5-bedroom villa in Saadiyat Lagoons is AED 8.2 million ($2.2 million).

Ajman

Ajman is a small emirate in the western part of the UAE. Its area is 269 km², and the length of the coastline is 16 km. The emirate is focused on the development of modern technologies and industry. It houses offices of large international companies, banks and private enterprises. The emirate has freehold zones where foreigners can buy and own housing.

Property in Ajman is worth buying because:

• Growing popularity of the emirate among tourists. From January to May 2022, about 237,000 tourists visited the city.
• Ajman has transport links to international airports and the industrial areas of Dubai and Sharjah.
• When buying a property worth AED 2 million ($544,500) or more, you can apply for a 10-year resident visa.
• The emirate is home to the Ajman Free Zone, digital business platforms, government and banking services are developed and there are no customs duties and income taxes.
• The emirate houses a major transport hub – Ajman Port, which houses 1,000 ships annually.
• Every year in Ajman, the number of business licenses increases, which indicates the popularity of the emirate with investors and entrepreneurs.
• In 2023, a budget of AED 2.920 billion ($795 million) was allocated to the development of the territory. This money is spent on solving economic issues, improving infrastructure, improving security and maintaining digital technologies.

Ajman is a great destination if you are looking for property, as prices here have not yet reached their maximum values and are lower than in many new residential complexes in Dubai. There are off-plan properties in the emirate sold at a discount from the developer. For example, the cost of an off-plan studio apartment in the Garden Residences in Emirates City is AED 238,000 ($65,000). The price of an off-plan 5-bedroom villa in Azha Community in Al Amerah is AED 1.89 million ($514,500).

Sharjah

Sharjah is the capital of the emirate of the same name, which is located between Dubai and Ajman. There are many museums, theaters and beautiful parks, which makes the city one of the main cultural centers of the UAE.

Beach infrastructure is well developed in Sharjah. This is the only emirate that is washed by the waters of not only the Persian, but also the Gulf of Oman. The main seaports of the country are located here, which provides more affordable prices for goods than in Dubai. In most areas of Sharjah, foreigners can purchase leasehold property. However, there is a freehold zone where you can buy real estate and own it.

Sharjah is an attractive destination for investors thanks to the following factors:

• Rental income varies from 4% to 8% per year.
• The cost of housing is lower than similar apartments and villas in Dubai. For example, in Aljada, 1-bedroom apartment is sold at a price of AED 760,000 ($207,000). The starting price for a high-end villa in the same complex is AED 1.7 million ($463,000).
• The city is actively building new residential complexes, where you can buy an apartment or villa in instalments.

Thus, in addition to Dubai, the UAE has other promising and attractive areas for buying real estate. Check out our property database and find the best offers in Sharjah, Ajman, Ras Al Khaimah and Abu Dhabi with our easy-to-use search filters. For a detailed consultation, feel free to contact our team.