RAS AL KHAIMAH

Time Magazine's 50 Greatest Places of 2022

Ras Al Khaimah (RAK) is the northernmost and the fourth largest of the seven Emirates that make up the United Arab Emirates. Known as the ‘Nature Emirate’, it has been on the Time Magazine’s list of one of the 50 greatest places of 2022 because of its stunning geodiversity and unparalleled outdoor adventure offerings. Ras Al Khaimah is known for its high quality of life, offering excellent lifestyle and holiday experiences to its residents and visitors.

Important stats:
• Population 0.4 million in 2021
• GDP USD 11 B in 2019
• Per capita USD 28,500 in 2019

RAK is strategically located at the cross-roads of Asia, Europe and Africa, with one-third of the world’s population within four hours of flying time. In UAE, the Emirate is located 45 minutes from Dubai International Airport and 40 minutes from Sharjah International Airport and is bordering the Sultanate of Oman.

Recognized as one of the safest and most livable cities during the pandemic by the Bureau Veritas, Ras Al Khaimah (RAK) has garnered significant global attention. The Emirate boasts a high-quality, unhurried lifestyle that fosters an ideal work-life balance. It is home to fully-integrated, secure, and gated residential communities, primarily developed by three master developers – Al Hamra, Marjan, and RAK Properties. These developers have played a pivotal role in creating numerous iconic residential, hospitality, retail, and leisure destinations that have attracted individuals from more than 100 different countries. Among the standout neighborhoods are Al Hamra Village, Bab Al Bahr, Mina Al Arab, and the diverse offerings on Marjan Island.

Ras Al Khaimah’s hospitality landscape is aggressively expanding. The multi-billion-dollar integrated resort of almost 250,000 sqm – Wynn Resort on Al Marjan Island will be the first of its kind in the Middle East. The resort will be home to more than 1,000 rooms, shopping, meeting and convention facilities, a spa, more than ten restaurants and lounges, extensive entertainment, and a gaming area.

Several renowned brands including but not limited to Sofitel, Anantara, Nobu, CONRAD, WESTIN, EARTH Hotels, ROVE combined with Wynn Resorts will add a total of 4,600 new keys by 2025. Ras Al Khaimah plans to welcome 3 million visitors by 2030 from 1.1 million in 2022. The hospitality industry in RAK is focusing on diversification, accessibility and sustainability to shape experiences of the residents and tourists.

Ras Al Khaimah presents an ideal destination for both business and residential investments, boasting top ratings from S&P and Fitch. Investors are further enticed by a range of advantages, such as

• 0% personal tax rate
• 100% repatriation of capital and profits
• 100% foreign ownership rights
• specialized business zones with corresponding licenses
• the option for long-term residency visas.

RAK is set for substantial economic growth with multi-billion-dollar developments in hospitality and tourism on the horizon. Long term visa is available on residential properties bought directly from Al Hamra, which is an added advantage. It’s a complete package that includes a 12-year residency visa, a partner visa and a free trade license, end-to-end managed and serviced by Al Hamra. Not only this, Ras Al Khaimah also ranks very high on the liveability index and is home to multiple premium beachfront residential neighborhoods.

Ras Al Khaimah is determined to apply sustainability to everything we do to nurture an economically, environmentally and socially sustainable tourism industry that supports quality of life for our citizens and workforce while conserving our unique environment. Nature and our wide-open spaces are the calling cards of our destination.

This sustainable approach to development is the cornerstone of RAK's ambition to attract 3 million visitors by 2030.