Investment in both private and public health care facilities has been on the rise over the past decade in RAK, with the health care sector expected to undergo a sustained period of major growth. Demand for new services is rising rapidly as RAK, like the rest of the UAE, witnesses an increasing incidence of lifestyle-related diseases. The government has increasingly targeted private health care...
The Middle East
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The energy mix in RAK is currently led by government-owned operators RAK Petroleum and RAK Gas, both of which are involved in exploration and operation...
RAK’s location on the Strait of Hormuz, its well-developed infrastructure, and the free trade agreements in place within the GCC are some of the key logistical advantages offered to businesses located in the emirate. RAK boasts five ports, each with a clearly defined role, and all of them branded as RAK Ports and managed by the Saqr Port Authority. The 1200-km Etihad Rail Project is being...
Chapter | Construction & Real Estate from The Report: Ras Al Khaimah 2015
Construction remains a key sector in RAK, with the industry driven by a combination of infrastructure, housing and hospitality schemes. The emirate’s role in providing raw materials and manufactured components for mega projects in the UAE and beyond looks set to continue as the region builds up to major events such as the 2022 FIFA World Cup. Strong demand continues to drive new residential...
Chapter | Industry & Retail from The Report: Ras Al Khaimah 2015
RAK is home to thriving cement and ceramics industries, and in 2014 manufacturing – the emirate’s main employer – accounted for 25.1% of total GDP. The emirate’s free trade zones have been key to driving this expansion. The FTZs offer international companies 100% ownership and allow them to take full advantage of the GCC’s free trade laws. Meanwhile, the emirate’s retail offering continues to...
Chapter | Financial Services from The Report: Ras Al Khaimah 2015
RAK’s financial services sector has posted robust growth in recent years. New regulations in line with Basel III standards are set to stabilise and protect banks, setting new capital and liquidity standards, while changes to the insurance sector are expected to limit investment losses in the UAE’s equities markets. While local banks are increasingly focusing on retail and SME lending,...