RAK property set for long-term growth

12/03/2009 - Dubai Property News
RAK property set for long-term growth

Property in Ras Al Khaimah is continuing to burgeon in popularity and is proving a solid investment for both Emiratis and expats, the National reports.

The paper notes that the emirate was the second in the UAE to allow foreign citizens to own property, following Dubai's lead in 2002. Since then, it has attracted a steady stream of new investors from both within the UAE and overseas.

Local property consultant Zaid Siddik told the paper that the emirate was proving particularly popular among Emiratis who owned property in Dubai and were looking for a second home.

"The fact that expatriates can already move into nice houses on the beach gives a certain confidence," added another estate agent.

Ras Al Khaimah is also making steady gains in establishing itself as an industrial and financial hub in the Middle East, while the Roads and Transport Authority also announced plans to improve road links between Dubai and the northern emirates, which may serve as an additional incentive to buy property in Ras AL Khaimah.ADNFCR-2019-ID-19071535-ADNFCR