Ras Al Khaimah benefitting from UAE tourism boom

The recent announcement that the United Arab Emirates is expecting visitor numbers to rise to 11.2 million by 2010 has been welcomed by Ras Al Khaimah property buyers.

View of La Hoya Bay

In recent years the Government of Ras Al Khaimah has been successfully promoting this relatively unknown emirate as an ideal tourist destination. At the same time the government has spent millions of dollars upgrading tourist infrastructure and adding more hotel rooms to meet an ever-growing demand.

Between 2001 and 2006, there had been a 47 per cent growth in visitors to Ras Al Khaimah. However, in 2007 alone, the emirate recorded an incredible 40% rise in tourists. The UAE as a whole expects to attract over 15 million visitors by 2015.

One of the largest developments taking shape in Ras al Khaimah is Al Marjan Island which is actually a series of interlinked man-made islands spectacularly projecting outwards into the Arabian Gulf. When completed, Al Marjan will have several new hotels, thousands of new apartments and a high-tech business village. The island will also add several more kilometres of beaches and waterfront.

The first of the new developments on Al Marjan Island is the La Hoya Bay Residence. In terms of design appeal and on-site facilities, this superb waterside complex compares favourably to the new island developments in nearby Dubai, however, properties at La Hoya Bay are more than 30% cheaper. This notable price differential is leading many switched-on investors to purchase Ras Al Khaimah properties. The anticipation of healthy rental returns from both tourism and business lettings, is also attracting serious property investors.