Rakeen and RAKIA establish pioneering integrated investment package for foreign investors

Rakeen and RAKIA establish pioneering integrated investment package for foreign investors

RAK Business Invest inclusive of office space, residential unit, visa and other value-added business incentives

August 4, 2009
Rakeen, one of the region's most dynamic property developers and master planners, has recently announced that it has partnered with Ras Al Khaimah Investment Authority (RAKIA) to establish RAK Business Invest, a pioneering initiative that offers foreigners as well as UAE residents an unprecedented opportunity to invest in the UAE and own a luxurious residential unit through a single transaction.

RAK Business Invest is an all-in-one investment package inclusive of an office space, a residential unit, simplified visa processing procedures and a wide range of value-added business and lifestyle benefits. Overseas investors who avail of the package may choose from a selection of commercial amenities including furnished office space, commercial space, retail space, land, warehouse, cold storage or serviced apartments. They are also entitled to acquire well-appointed studio, one-bedroom, two-bedroom or three-bedroom beachfront residential units at Bab Al Bahr, the centrepiece development of Al Marjan Island, the first man-made island in Ras Al Khaimah.

Wahid Attalla, Executive Director, Rakeen, said, "We are creating a new and more attractive gateway for foreigners to expedite and gain greater value for their investment initiatives in the UAE. RAK Business Invest enables investors to enjoy a wide range of economic benefits as well as value-added incentives such as an integrated point of contact to facilitate both their commercial and residential requirements. This is truly a breakthrough joint initiative by Rakeen and RAKIA, as we are fully committed to continue to look for innovative solutions to promote and protect the interest of foreign investors in the emirate."

Jeremy Savory, Commercial Director, Rakeen, said, "Ras Al Khaimah has been gaining solid ground as a favourite destination of leading investor groups globally, and the RAK Business Invest initiative is another important step that will help further cultivate strong bilateral relations with these countries. RAK Business Invest targets all nationalities and business sectors, as the more diversity the better. As such, we will conduct dedicated road shows and hold one-on-one meetings with high net-worth individuals and leading business and investment figures in various countries. We have likewise established a dedicated sales team that will attend to all requirements of investors availing of the RAK Business Invest package."

RAK Business Invest serves as a one-stop solution wherein investors can make a single transaction to obtain both commercial and residential properties. The new service facility offers three levels of investment packages: Silver, Gold and Platinum, based on the size of the office and residential units being acquired by the investor. RAK Business Invest was developed in line with the laws and practices of the UAE Federal Government.

Those who avail of RAK Business Invest will continue to enjoy the emirate's free-zone and non-free-zone benefits and strategic business advantages that include tax exemption, minimal proof of capital, low-cost trade, excellent infrastructure, reduced bureaucracy and a highly centralised business location that is just a short distance away from other major economic hubs such as Dubai and Abu Dhabi, and is in proximity to three international airports as well as other key transportation facilities.

The new initiative is also in line with efforts to further strengthen Ras Al Khaimah's reputation as one of the fastest-emerging investment destinations in the region. The emirate was recently recognised as the most attractive destination for foreign direct investment by fDi Magazine / Financial Times, while the Ras Al Khaimah Government has obtained an "A" rating with stable outlook from rating agencies companies Fitch and Standard & Poor.

Ras Al Khaimah to host 33rd America’s Cup in 2010

Ras Al Khaimah to host 33rd America’s Cup in 2010


August 6, 2009
Ras Al Khaimah Investment Authority (RAKIA), the government body responsible for the socioeconomic growth of the emirate, has announced that Ras Al Khaimah will be hosting the prestigious America’s Cup sailing competition in February of 2010, marking the first time that the race will be held in the Middle East.

RAK Investment Authority said that the Cup is the first of a series of upcoming prominent events that will reinforce RAK’s emerging status as a leading residential and tourist destination in the region. It added that the trend exposes the emirate to a global audience of prospective investors and potential industry partners who stand to benefit significantly from the growing local portfolio of prime investment offerings as well as a pro-business environment.

H.H. Sheikh Saud Bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah, said: “We’ve made critical improvements to our commercial and economic infrastructure that are paying off in terms of high tourist footfall and rising numbers of investors and business organisations. We are directing our success towards the events sector as well, with the America’s Cup serving as a centrepiece addition. RAK's association with prestigious global events will help further enhance its image as a rapidly-evolving economy and a highly attractive investment and leisure destination in the Middle East.”


RAKIA has been expediting various development initiatives and implementing new strategies to bolster RAK's economic diversification program. The government body affirmed that the energetic pace of socioeconomic advancement and various investor-friendly benefits such as 100 per cent exemption on income and corporate tax; zero import, export, sales and wealth taxes; 100 per cent repatriation of capital and profits; zero restrictions on hiring expatriates; and land at concessional rates have helped draw various industries both regionally and abroad to the emirate.

“Ras Al Khaimah continues to enjoy a rapid influx of regional and international investors, thus positioning it to easily achieve its growth targets. Investors are impressed with the existing infrastructure, world-class facilities and numerous development projects currently underway. The growing investor confidence in the RAK economy is opening up even more opportunities to extend the emirate's economic diversification program into niche areas such as elite sporting events,” added Dr. Khater Massaad, CEO, RAKIA.

Established in 2005, RAKIA is a pillar of the emirate's economic progress, generating billions of dollars in annual revenues through groundbreaking investment initiatives within the emirate and across the international markets. Under RAKIA's guidance, Ras Al Khaimah has been able to attract over 2,000 local and foreign investors representing over USD2.3 billion in investments to the Industrial and Free Zones in Al Hamra and the Industrial Park in Al Ghail.

Ras Al Khaimah is one of the fastest growing economies in the Gulf. Aside from being an investment haven, the coastal emirate is also one of the region's favourite tourist destinations, featuring pristine beaches, majestic mountains, and a unique community where age-old traditions and modern life co-exist harmoniously.