The palace, which long captivated the imagination of UAE residents, is once again on the market, and its 'ghostly' reputation has proven to be more of an advantage than an obstacle. According to agents, interest from investors with various ideas about the palace's future is very high.
Al Qasimi Palace in Ras Al Khaimah, known locally as the 'Ghost Palace,' is offered for sale for 22.5 million dirhams without furniture or 23.5 million dirhams with original artifacts and collectibles.
The property, which features 35 bedrooms, occupies an extensive plot of 191,742 square feet, with the building itself covering 33,827 square feet. The listing is handled by Bishop & Knight, whose managing partner, Josh Henry, stated that the company has been in discussions with potential buyers, 'each of whom has their own vision for this place.'
Bishop & Knight has partnered with Abubakr Siddiq, an elite real estate consultant at Mehar Properties, to present the palace to their extensive audience of buyers and investors on Instagram.
According to Abubakr, interest is coming even from international investors. He noted: 'We have potential buyers from the UK, India, and even from the region who have expressed interest and submitted applications.'
He added that most of these potential buyers are attracted by the prospects of Marjan Island and broader tourism promotion in Ras Al Khaimah.
Al Qasimi Palace has intrigued people for many years. It was built in 1985 on a hill at the request of the late Sheikh Abdulaziz bin Humaid Al Qasimi, a member of the ruling family of Ras Al Khaimah, and was intended to be an eclectic masterpiece. Artisans from Iran, Morocco, India, and China contributed to the mosaics, painted tiles, frescoes, and walls decorated with gazelles and birds. The ceilings were adorned with crystal chandeliers from French and Belgian manufacturers, and sculptural plaster doves and owls protruded from the walls. Reports suggest the construction cost over 500 million dirhams.
However, Sheikh Abdulaziz never lived in it. One reason, it is believed, was the family's objections to sculptures and artworks depicting human and animal figures. Nevertheless, because the palace remained uninhabited for almost 35 years, it fueled rumors of strange occurrences.
In 2019, Tarek Ahmad Al Sharkhan breathed new life into it, transforming it into a museum called Al Qasr Al Ghamidkh—the Palace of Ambiguity. Visitors can enter the palace for 75 dirhams per person.
Josh believes that a buyer with the right vision could transform this property into something that would bring great value to Ras Al Khaimah. He stated: 'The palace could become a small kingdom for them: a private residence where generations of the family can gather, with space for restoration, landscaping, and creating something entirely personal.'
He continued: 'Another buyer might see the foundation for a tourism or events destination, provided the necessary permits are obtained. What they share is the chance to give a wonderful place a new lease on life without losing the history that makes it special.'
Unlike many historical sites, this palace has no heritage restrictions, meaning complete freedom for the new owner to demolish, rebuild, alter, or renovate as they wish.
Abubakr noted that the property is suitable for residential, hotel, or tourist development. The palace's reputation often becomes part of the conversation with potential buyers. Local residents have spread stories for years about shimmering lights and noises, enhancing its mystical aura. He also emphasized that the palace is located among mosques, shops, and other daily activities.