Underpinned by strong economic and demographic fundamentals, retail in Ras Al Khaimah has continued to expand. The emirate’s population grew by an estimated 4.5% in 2010 to reach around 279,000 people, according to the RAK Department of Economic Development (RAK DED), with the government estimating 300,000 ahead of a 2012 census. Of those, 49.4%...
Despite the lingering effects of the 2008-09 international economic downturn and the more recent political unrest in the region, Ras Al Khaimah’s financial services sector is expected to grow substantially, fuelled by steady expansion in retail banking, Islamic financial services (IFS) and the insurance segment, among other areas. Local banks and...
The property sector in Ras Al Khaimah is developing and expanding on a number of fronts. While investors remain cautious, many are also feeling increasingly confident, and this renewed confidence is evident in the fact that RAK developers have been handing over residential units as well as retail and office space. Local banks have taken notice and...
On September 24, 2011 more than 5000 of Ras Al Khaimah’s inhabitants – including a substantial number of women – elected three new local representatives to the UAE’s Federal National Council (FNC), the 40-member organisation serving as the national legislature. Political participation by women has jumped substantially in recent years. In RAK, women...
To what extent has the UAE’s health care industry been affected by the economic crisis? Where do you see the most potential for growth?
As Ras Al Khaimah’s economy has developed over the past decade, the emirate has built a reputation as a regional centre for small and medium-sized enterprises (SMEs). In 2009, SMEs accounted for 85-95% of all economic activity in the UAE, according to a report released by the Abu Dhabi Council for Economic Development (ADCED). In RAK, the percentage...
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