UAE developer Al Hamra has achieved a key milestone with the sale of the Sky Palace at its prime development -  Waldorf Astoria Residences Ras Al Khaimah - for $35.4 million, marking the highest-value single-unit residential transaction ever recorded in the northern emirate.

A one-of-one residence above the coastline, the Sky Palace at the Waldorf Residences, Ras Al Khaimah, spans approximately 10,000 sq ft 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, said the developer in a statement.

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, it stated. 

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.

In a separate transaction, Al Hamra has also completed the sale of the development’s signature penthouse for $15 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, it added.

The signature penthouse, also part of the beachfront tower, spans 6,000 sq ft 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.

On the key milestone, Group CEO Benoy J. Kurien 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, he added.-TradeArabia News Service