Ras Al Khaimah Property
Situated just a 45-minute drive from Dubai Airport, Ras Al Khaimah is the UAE's northernmost Emirate. The area is well known for its beautiful Arabian Gulf beaches and tourist attractions like the 19th century, mountain-top Dhayah Fort, Ice Land Water Park, RAK National Museum and what is probably the world's longest zipline.
Luxurious developments like Marjan Island, Al Hamra Marina and Al Hamra village, and the chance to buy freehold Ras Al Khaimah apartments, town-houses an villas is of continued interest to international investors.
The Emirate is part of the United Arab Emirate's national strategic development plan, called Vision 2021, which was launched by H H Sheik Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE, in 2010. Vision 2021 aims to transform the United Arab Emirates into a world-class destination for overseas investment and tourism by the time of the Golden Jubilee of the Union.
Property prices are lower than in Dubai or neighbouring Sharjah. The Ras Al Khaiman Tourism Development Authority is planning to create around 20,000 new hotel rooms by 2025, and some of these projects will contain hotel apartments. Investing in hotel apartments is a good way to get a foothold in the UAE property market, as developers offer generous repayment terms.
The core markets for Ras Al Khaimah's tourism sector are India, Russia, the United Kingdom, Germany and, increasingly, Scandinavia. The Ras Al Khaiman Tourism Development Authority already has representative offices in Saudi Arabia, Britain, Russia and Germany, but has just opened an office in Copenhagen, Denmark, to increase tourism from these countries.
Further tourist attractions and international events are also being planned, which will increase already robust visitor numbers. Prices for affordable Ras Al Khaimah studios and three-bedroom apartments fell a little in the first quarter of this year. This is a good time to invest ahead of Dubai Expo 2020, an international business event which is expected to attract 25 million visitors to the United Arab Emirates and drive property prices and holiday rental rates up.
