Dana Island - Ras Al Khaimah
Why invest in Ras Al-Khaimah?
When referring to the UAE real estate market, most people think of Dubai and Abu Dhabi. However, relatively unknown on an international level, is Ras Al-Khaimah which is currently one of the fastest growing emirates in the UAE.
A visionary government
Similar to Dubai, the property boom in Ras Al-Khaimah is not only due to its natural assets but also to a visionary government that is committed to growing Tourism and has invested heavily into building a superior and greener emirate. Luxury'palm-like' man-made islands, five star hotels, world-class marinas and luxury residential property are all set to put Ras Al-Khaimah on the map.
A tourist's best kept secret
Neighbouring Dubai, Ras Al-Khaimah has an advantage over other more established tourist destinations because it is still relatively unexplored by international tourists yet boasts beautiful natural surroundings including the longest stretch of coastline in the Emirates with untouched white sandy beaches and picturesque mountains. It is a welcome alternative for those wanting to visit the region but don't want the'Dubai experience'.
By 2020 the government is predicting that the population will have leapt from it's current 195,000 population to 750,000 people or more and tourist numbers will have raised from 500,000 a year currently to 2.5 million by 2012.
An attractive commercial centre
Only 45 minutes from Dubai International Airport and with attractive incentives and free zones, Ras Al-Khaimah is attracting high-profile investors and international businesses. The Ras Al-Khaimah Free Trade Zone (RAK FTZ) consists of a business park, two industrial parks and a technology park, and is now the fastest growing in the Gulf Cooperation Council (GCC) with 4,500 companies by the end of 2007.
An attractive investment opportunity
Ras Al-Khaimah has taken a very practical approach to property investment. Ras Al-Khaimah residential property is in demand from residents and tourists and therefore offers the best of both worlds to investors. The emirate is also implementing several favourable procedures for investrs such as the opportunity to purchase freehold title ownership and the availability of mortgages for new real estate developments.
Unlike its neighbour Dubai, Ras Al-Khaimah offers greater availability of land and lower property prices. Properties are of great value and promise high potential for strong capital gains and rental returns. Comparisons are being made to Dubai 6 years ago, and the property returns experienced on Palm Jumeriah, Dubai.
Dana Island
Conceptualised and developed by Rakeen, the real estate development arm of the Ras Al Khaimah government, Dana island is a mixed-used development with a design consisting of a main stem in three parts and ten leaf-shaped islands. The project will extend 7 kilometers into the sea, will create around 53 kilometers of new shoreline and will accommodate several world-class hotels, commercial and residential complexes. It is set to become one of the regions preferred holiday and business destinations.
'The Dana Island project is poised to become one of the UAE's most sought-after multi-purpose developments, and the launch presents an opportunity for regional and international investors to capitalise on the project's unique design, concept and location. More importantly Rakeen has adopted the most sophisticated construction technologies to ensure that the Dana Island project will preserve the marine environment.'
Wahid Attalla, Member of the Board, Rakeen
