Majestically poised at the northernmost tip of the UAE, bordering Oman on its northern and eastern limits, Ras Al Khaimah, the fourth largest of the UAE’s seven emirates, is already showing signs of positive economic growth. Proud of its heritage and founded on strong local values, Ras Al Khaimah is open to UAE nationals, expatriates, foreign investors and tourists alike. The biggest testament to the emirate’s openness is the development of the Ras Al Khaimah (RAK) free zone.
In recent years, the emirate has focused on infrastructural development, which in turn has attracted some of the world’s biggest property developers. Now, the emirate hosts a number of leading international schools, hospitals, hotels, shopping centers and other amenities. There are a large number of residential projects currently underway, which will have an immediate impact on the number of housing units that will be available in the next two to three years. Moreover, there has been significant growth in the industrial and tourism sectors in RAK, thanks to sustained awareness and publicity campaigns in international markets. RAK Tourism, the regulatory body for tourism initiatives in the emirate, has announced that nearly two dozen 5-star hotel brands, in addition to several more premium hotel and hotel apartment operators, will launch operations within the next five years. The new hotels are expected to more than double the current supply of hotel rooms in Ras Al Khaimah, helping to accommodate the 2.5 million tourists that are expected to visit the emirate by 2012.
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