Professional Documents
Culture Documents
turns
n Year-round rental re
Ov e rv i e w
+ 44 (0) 1273 627 900
www.ready2invest.co.uk
Ras al-Khaimah
Population: 250,000
Area: 1,680 km²
Coastline: 40km
Climate: High temperature and humidity in the summer;
moderate in the winter
Languages: Arabic (official), English, Hindi, Urdu and Farsi
Religion: Islam, although other religions are accepted privately
Government type: A member of a federal constitutional monarchy
(the United Arab Emirates)
Local time: GMT+4
Capital: Ras al-Khaimah
Currency: Dirham (fixed rate: 1US$ = 3.67 Dhs)
Tax free
Ras al-Khaimah’s free trade zone has zero tax on income and capital
gains, and no property transfer or value-added tax2. It also allows 100%
expatriate property ownership3. This makes it an ideal environment for
any investor.
Rental potential
With a growing economy and tourism sector, Ras al-Khaimah has
a significant rental potential for short- and long-term lets. With
rental prices rising at a fast rate in Dubai, both tenants and tourist Planned gateway building to Ras al-Khaimah
1. Ras al-Khaimah Economic & Strategic Outlook, Well on the path of diversifying the economy... February
2007, Global Research, Global Investment House http://cm1.zawya.com/researchreports/global/20070205_Global_101
2. http://www.rakftz.com/en/rak_emirate.php?id=2
3. http://www.rakftz.com/en/setup.php?id=6
4. http://www.ameinfo.com/83381.html and http://property.timesonline.co.uk/tol/life_and_style/property
overseas/article1617595.ece
5. http://archive.gulfnews.com/business/Development/10132602.html
6. Ras al-Khaimah Economic & Strategic Outlook, Well on the path of diversifying the economy... February
2007, Global Research, Global Investment House http://cm1.zawya.com/researchreports/global/20070205_Global_101
Politically stable
Ras al-Khaimah has a stable political structure. As a member of the
UAE since 1972, the emirate has been strengthened economically and
politically. The emirate has been led by Sheikh Saqr bin Mohammed
Al Qasimi since 1948. His son, Sheikh Saud bin Saqr Al Qasimi was
appointed Crown Prince and Deputy Ruler in June 2003, and has
been responsible for the development of a strong business-friendly
economic environment.8
Oil-independent economy
Only 3% of Ras al-Khaimah’s economy is based on oil, making Coast road into the city
it unique among the other emirates of the UAE9. With its own
microclimate, it is the most fertile emirate, so a significant part of its
economy comes from agriculture, as well as dairy production, fishing
and mineral manufacturing. There is also a growing tourism sector.
Economic overview
Ras al-Khaimah, the northernmost emirate of the UAE, combines This emirate has often been compared to Dubai five years
vast reserves of raw materials and a strong strategic location as a key ago. However, Dubai today is very congested with 100 storey
port on the Arabian Gulf and the Middle East. As the most fertile buildings and a high premium to pay on property. There is
emirate of the UAE, it also serves as a major agricultural hub. less large-scale development, like skyscrapers, in Ras al-Khaimah,
due to a stronger emphasis by the government on maintaining
the authenticity of the emirate and environmental standards.
Interest is shifting from Dubai to Ras al-Khaimah as it is more
affordable and can also cater for the demand – a classic “hotspot
overflow” story.
President Khalifa bin Zayed Al Nahayan of the UAE, elected November 2004
12. Ras al-Khaimah Economic & Strategic Outlook, Well on the path of diversifying the economy...
February 2007, Global Research, Global Investment House http://cm1.zawya.com/rel/20070205_Global_
01041.pdf 20. http://www.ameinfo.com/83381.html and http://property.timesonline.co.uk
13. Ibid /tol/life_and_style/property/overseas/article1617595.ece
14. Ibid 21. http://cm1.zawya.com/researchreports/global/20070205_Global_101041.pdf
15. PriceWaterhouseCoopers and RAK Government ‘Destination Ras al-Khaimah – 22. http://www.rak.ae/portal/page?_pageid=33,84545&_dad=portal&_schema=PORTAL&URL_Functions=
Overview of the business environment and regulatory framework’
16. http://www.rakftz.com/en/rak_emirate.php?id=2 http%3A%2F%2Fegacontent.rak.ae%2Fstellent%2Fgroups%2Fdevelopment%2Fdocuments%2Fpage%2Fe
17. Ibid. _rak015247.hcsp
18. http://archive.gulfnews.com/business/Development/10132602.html 23. http://news.bbc.co.uk/1/hi/world/middle_east/country_profiles/737620.stm
19. Overseas Property Professionals e-newsletter 04/01/07 24. http://en.wikipedia.org/wiki/Khalifa_bin_Zayed_Al_Nahayan
25. http://en.wikipedia.org/wiki/Mohammed_bin_Rashid_Al_Maktoum
26. Destination Ras al-Khaimah, p9
overview < RAK
+ 44 (0) 1273 627 900
www.ready2invest.co.uk
4 Men all over the country nearly all wear the same unified dress
called Kandurah. The head cover called Ghottrah is usually
supported by a black or white kofiyyah or eqal. Men wear
sandals on most occasions.