RAK undergoing 'impressive growth'

25/06/2009 - Ras Al Khaimah Property News
RAK undergoing 'impressive growth'

Ras Al Khaimah (RAK) is continuing to develop at an impressive rate, with the Oxford Business Group reporting gross domestic product growth in excess of 50 per cent every year for the past four years.

A report from the Arab-British Chamber of Commerce has announced that growth in the emirate is still outstripping other UAE countries, with a number of landmark construction projects set to transform RAK into an economic powerhouse in the coming years.

Prominent among these major developments is the Gateway City project, which will offer both commercial and residential property for sale in Ras Al Khaimah.

It is scheduled to be completed in phases and once finished, is expected to attract around 250,000 people to the emirate.

The report went on to state: "Increasing demands for residential units and RAK's investment plans have given a boost to the growth of real estate."

Meanwhile, the RAK Investment Authority has been busy servicing demand for new businesses in the emirate, with 289 licences issued so far this year.ADNFCR-2019-ID-19236645-ADNFCR