Ras Al Khaimah

Dubai’s neighbours are now poised to take advantage of the same fundamentals that launched Dubai as a property, business and investment haven. Ras Al Khaimah the northern most Emirate, situated between the Hajjas Mountains and the Arabian Gulf offers unspoilt coastline and white sandy beaches. It has grown rapidly in the last 4 years, re-inventing itself as an economic force with multi-billion Dirham projects and unique investment opportunities. The boom is set to continue with new hotels under construction including the Hilton Beach Resort (due for completion in 2008) and others such as ‘La Hoya Bay’, ‘Mina Al Arab’, worldclass theme parks, international golf courses and the new Ras Al Khaimah airport which is already close to completion. Famed as the ‘Rising Star of the UAE’ by the Gulf News in June 2007, Ras Al Khaimah has a lot to offer not only in a property sense, but also a new way of life and a bright future in one of the UAE’s most energetic and rapidly expanding Emirates. 

 Business

No longer reliant on traditional industries RAK is now turning its attention to an ever-rising tourism market and a rapidly expanding business community. Since 2000 over 100 billion AED was invested in RAK by both foreign and domestic sources. This figure is set to increase dramatically as more and more businesses flock to the area in order to capitalise on factors such as 100 per cent foreign ownership in free zone areas, no income tax for corporations, and low import duties. ‘Free-hold’ ownership is granted for every property in RAK, unlike Dubai where only 60% of the Emirate is freehold. Currently the fastest growing economy of all the Emirate states RAK offers investors the opportunity to benefit from significant capital growth comparable to that of Dubai up to 10 years ago.

Free Zone

Ras Al Khaimah Free Trade Zone (RAKFTZ) is one of the fastest growing free zones of the UAE. Strategically located in RAK, it provides easy access to more than 2.2 billion consumers in the region. The solutions provided by RAKFTZ are based upon state of the art infrastructure, built to international standards and supported by an ISO 9002 certified organization. Facilities available to clients include: land (ready to build), offices and warehouses, flexi offices and desks (virtual office solutions) and remote access services. ‘Free trade zone’ property purchasers automatically qualify for a RAKFTZ Business License and by sponsorship offers the potential of a 3-generation visa (purchaser, parents and children),which grants both residency and employment rights within the UAE. RAKFZ licenses and Visas can be applied for upon payment of 30% of purchase price.

Education Institute

Ras Al Khaimah is also a major base for International Education Institutes including the world renowned 4,000 student George Mason University, due to open in 2008. So not only is Ras Al Khaimah raising its stake as a tourist destination but also putting itself firmly on the map as a leading destination for families and businesses alike. Spaceports RAK is currently planning the Middle East’s first ‘Spaceport’. His Highness Sheikh Saud Bin Saqr Al Qasimi, along with the UAE Department of Civilian Aviation, has granted clearance to operate suborbital spaceflights in their air space. The race to “New Space” by Virgin Galactic and Space Adventures from a growing number of global locations will begin to capture more of the public’s attention as tourists launch to space. Suborbital spaceport transport from New Mexico to Koruna, Singapore and UAE may become the norm in the 2010 to 2015 timeline.

Real Estate & Investments

There are currently over 31 real estate development underway or at the planning stages. Developments in these areas, have seen at least a 20% annual increase in their prices for past two-three years. These factors aside, prices are around 60% less than Dubai, making it one of the newest real estate hotspots for investors. In 2007, RAK recorded the highest ‘RevPar’ (revenue per available hotel room) among all emirate but still sees at least a 4,000 shortage of hotel rooms.

We are offering you

Be part of the participating investors in a US $3.5 billion project which will cover an area of 3.25 million m2 and be spread along 13km of a beachfront strip and a group of islands. A mixed-use development of villas, townhouses and apartments, with hotels, shops and water parks being master developed by the Government backed RAK Properties. The amenities will include a harbour, pedestrian and bicycle pathways, traditional Arabian Souks, 310 hectares of open space, ecological preserves and landscaping, traditional ‘Abra’ water taxis, parks, medical facilities, Mosques, cafes and restaurants, as well as recreational facilities such as gyms, tennis courts, spas and other sporting activities. The first phase is expected to be completing in the first and second quarter of 2008.