RAK RTZ fastest-growing in the region

09/08/2011 - Ras Al Khaimah Property News Posted by Neil King
RAK RTZ fastest-growing in the region

The Ras al Khaimah Free Trade Zone (RAK FTZ) is the fastest-growing FTZ in the region, according to new data.Figures published by RAK FTZ for the second quarter of 2011 show that 574 new companies registered, bringing the total to 1,068 between January and June.This compares to 835 companies that registered over the same period last year, highlighting the growth the area has achieved.The 30 per cent year-on-year growth has largely come from businesses set up from the UK, Egypt, Pakistan, Germany and the US.And with more businesses opening up in the emirate, it could soon lead to a surge in demand for property in Ras al Khaimah."The enviable growth achieved in new registrations this year is a testimony to our reputation as one of the most attractive investment zones in the region," commented Oussama El Omari, chief executive of RAK FTZ. "These significant growths in these challenging economic times reflect the investors' confidence in our transparent, business-friendly environment."He added that by the end of 2011, it will be on course to a new record in company registrations and growth.