Nestled in the northern region of the UAE, Ras Al Khaimah (RAK) stands as a rapidly growing investment and tourist hub. Despite being overshadowed by the glitz of Dubai, RAK is emerging as one of the largest economic zones in the country.
A Rising Star in the UAE's Economic Landscape
Ras Al Khaimah's strategic location, boasting access to international sea and air transport links, positions it as an ideal business destination. The Emirate's dynamic economy is supported by modern infrastructure, off-plan residential and commercial complexes, tourist facilities and industrial parks. With a GDP of $11 billion and a per capita income of $28,500, RAK is a bustling economic center.
Free trade zone advantages: RAK's free trade zone status provides a range of benefits for entrepreneurs, including full ownership for foreigners, repatriation of capital and profits and zero import and export taxes. The recent launch of RAK Digital Assets Oasis, the first free economic zone for digital asset companies, further cements RAK's commitment to innovation and attracting foreign investment.
Tourism and sustainable development: The government's active investment in the tourism sector aims to welcome 3 million tourists annually by 2030. RAK is also striving to become a regional leader in ecotourism by 2025, demonstrating a commitment to sustainable development initiatives.
A Gateway to Investment Advantages
Investing in RAK real estate comes with a host of advantages:
- Growing market: Prices for apartments and villas have seen significant increases, with return on investment (ROI) exceeding 11.6% in some areas.
- Property ownership: Freehold zones in RAK allow for full ownership of property, providing security and control to investors.
- Favorable prices: RAK offers more affordable real estate options compared to Dubai and Abu Dhabi, with a noticeable price difference of 30-50%.
- Tax benefits: With no personal income tax, property owners can enjoy the entirety of rental income, minus minimal maintenance costs.
- Subsidized registration fees: Developers in RAK contribute 2% towards the property registration fee, reducing the financial burden on buyers.
- High ROI: The average ROI in RAK is 6%, with the potential to reach up to 11.7%, making it an attractive investment opportunity.
Buying Property in Ras Al Khaimah
Before making any property purchase decisions, it's crucial to be aware of the ownership laws. According to Real Estate Law No. 7 of 2006, UAE and GCC citizens have the freedom to purchase real estate anywhere in RAK. However, foreigners have restrictions, with property ownership limited to designated areas zoned for foreign ownership.
Types of Foreign Ownership:
Freehold: Complete ownership of both property and land.
Leasehold: Ownership for a set period, usually granted through a lease agreement.
Thorough research and legal advice are essential for foreign buyers, considering the regulations. Exclusive Links Real Estate can provide expert advice, particularly in the dynamic off-plan investment market in RAK.
The Most Sought-after Areas of the Emirate for Buying Property
For those considering property investment in RAK, several sought-after areas include Al Hamra Village, Mina Al Arab, Al Marjan Island, Yasmin Village and Dafan Al Nakheel.
RAK's Residential Revolution is Wynn Al Marjan Island
In a shift from high-profile hotels to residential opulence, EMAAR introduces Wynn Al Marjan Island, a game-changer in Ras Al Khaimah's real estate. Soaring 305 meters above the sea, this multi-billion-dollar integrated resort, set to open in late 2026, promises 1,500 rooms, a first-of-its-kind casino and an array of luxury amenities.
Investor Magnet and Global Frenzy and Recognition
Global investors are flocking to RAK enticed by the allure of long-term rental income and short-term holiday home rentals. The Wynn project, alongside developments by Ellington Properties, Aldar, and EMAAR, is capitalizing on this surge, transforming RAK into a hotbed for real estate investments.
RAK is not just a real estate hotspot; it secures the fourth spot in InterNations' ranking of the best cities for living and working. This recognition highlights RAK's growing global prominence, making it a holistic destination for a quality lifestyle.
New Projects and Exclusive Links Picks for RAK
RAK stands out not only for its grand real estate but also for developer-offered 50/50 payment plans, providing investors with a balanced and attractive proposition. This financial flexibility fuels the new red-hot draw - that is Ras Al Khaimah.
- Oceano by Luxe Developers
- Address Residences by Emaar
- Quattro Del Mar by R.A.K Properties
Ras Al Khaimah's thriving economy, strategic location, and investor-friendly regulations make it a promising destination for real estate investment. With Exclusive Links Real Estate's expertise, navigating the dynamic market of RAK becomes a seamless journey towards lucrative property ownership. Although we have 2 offices in Dubai we have agency agreements with all the developers selling in the primary market in RAK and our Off Plan Specialists are happy to help you make an unbiased decision based on your requirements and appetite.
Speak with our Off Plan Manager Anthony Taylor on +97150 348 4421 or drop him a whats app and we can forward you online brochures on each of the projects mentioned with floor plans and pricing. You can also email offplan@exclusive-links.com
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