Dramatic Rise in the Number of Businesses Attracted to the Ras Al Khaimah Free Zone

According to reports in the Middle East press, there has been a dramatic rise in the number of businesses setting up in the Ras Al Khaimah Free Zone.

Booming economy is good news for Ras Al Khaimah real estate investors

During the first half of 2008, 847 new companies registered in the Free Zone, the total number of firms operating from the zone now stands at 4,773 bringing a combined total investment of more than 10 billion (AED).

Chief Executive of the Ras Al Khaimah Free Zone Authority, Osama Al-Omari is quoted as saying: “The first half of the 2008 has witnessed the a record rise in the number of international companies which registered at the zone” He added firms are benefiting from the logistic services we provide for our clients and investors in the zone”.

Mr Al-Omari who is also the Secretary General of the World Economic Processing Zones Association continued: “The next three years are expected to witness an even bigger increase in the number of companies registering to operate from RAK”.

Arabian Sands Comment: This news comes as no surprise to those who have invested in Ras Al Khaimah real estate. The superbly positioned La Hoya Bay Residence is on Al Marjan Island and only a short drive from the RAK Free Zone; La Hoya Bay is seen by many as a prime buy-to-let investment opportunity due to its attractive waterfront location which has become a favourite residential area for business people working in the Free Zone.

Ras Al Khaimah Property Report 29th July 2008