A key sector in Ras Al Khaimah, the construction industry is driven by housing, hospitality and infrastructure schemes within the emirate, but also by its key role in providing raw materials and manufactured components for mega-projects in the UAE and beyond. Although the sector has seen unprecedented peaks and troughs in the last decade,...
The property market in Ras Al Khaimah has shown robust growth and resilience to the volatility found elsewhere in the UAE, and is set to benefit from a fresh injection of investment. More than Dh4bn ($1.1bn) is being spent on new housing schemes that will come onto the market by 2017.
The real estate rental market provides fascinating insights into Ras Al Khaimah’s evolving relationship with the other emirates. While the price cycle from 2008 to 2014 may have tracked the fortunes of other UAE markets in some respects, in other ways RAK stands apart, with its own identity and offerings.
The success of the suburban seaside communities that have sprung up in Al Jazirah Al Hamra, to the south of Ras Al Khaimah City, has given real estate developers an appetite for new housing schemes. Hundreds of homes are currently being built both at Mina Al Arab and Al Hamra, while on the Al Marjan Islands development new waterfront...
Early investments that leveraged Ras Al Khaimah’s natural resources have attracted a number of private and public operators to the building materials industry. Indeed, the emirate is home to a number of global and regional players in the cement and ceramics segments. RAK has vast limestone deposits in the Hajar Mountains, the site of the largest...
Expanding human and social capital and diversifying the economy into emerging sectors such as tourism and real estate are key planks of Ras Al Khaimah’s development strategy. As a result, tourism and residential properties are expected to continue to be major drivers of growth in the real estate sector.
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