The Ras Al Khaimah Investment Authority (RAKIA), a provider of investment opportunities and "one-stop solutions" in its free zones, industrial parks and offshore facilities, has announced that it issued 1,108 business licences in 2010 - a 27 per cent increase on 2009 and up 62 per cent compared to 2008.
In addition, the authority reported a 190 per cent improvement in the total area of land leased, reaching over one million square meters in 2010 from just 353,046 square metres the year before.
A total of 84 land lease contracts were signed in 2010 for an average of 85,000 square metres of land leased each month.
Warehouse leasing likewise improved by 41 per cent with 100 contracts signed in 2010.
"The excellent growth figures reaffirm the strong reputation of Ras Al Khaimah as a preferred investment destination and an ideal business base in the Middle East," commented Khater Massaad, chief executive officer of RAKIA.
"It likewise underlines the success of RAKIA in developing and promoting attractive business packages and incentives to potential investors from all over the world."