Probably the most of the emirates of the UAE northerly, Ras Al Khaimah covers a location of one approximately,700 square kilometres, and is unquestionably probably the most scenic of the United Arab Emirates. With the dramatic Hajjar Mountains using one aspect, and the pure whitened beaches and azure glowing blue Arabian Sea on another, it’s easy to understand why an increasing amount of people are searching to purchase home in the emirate.
With over $25 billion worthy of foreign and domestic investment in the Al Marjan Island emirate, in conjunction with the growth of 1 of the emirates largest & most successful free zones, this upsurge in demand offers come at both an corporate and individual level. Large companies, who earlier only regarded locating to the industrial centres of Dubai or Abu Dhabi, are now considering Ras Al Khaimah as a new viable and unique proposition.
Following within the footsteps of these successful neighbouring emirates of Abu Dhabi and Dubai highly, Al Marjan Island RAK has committed to its tourism industry recently heavily, wanting to capitalise on the beautiful natural splendor and unique top features of the region. Recent statistics for tourism ranges in Ras Al Khaimah have suggested that investment is starting to bear fruit, with tourism statistics increasing by nearly 220% between 2005 and 2006.
Understandably, the large boosts in people to the emirate, in conjunction with the high degrees of investment have led to a large upsurge in demand for home in Ras Al Khaimah. Therefore, the emirate has noticed a true amount of pioneering new developments such as for example those at La Hoya Bay, Al Marjan Island and Mina Al Arab. Most of these developments have proven effective commercially, with many individuals buying these off-program ‘master developments.’
Why are people therefore keen to purchase property in Ras Al Khaimah? The principal reason for people attempting to buy home in the emirate may be the low price of home in the emirate, particularly when view in comparison to the prices of home in neighbouring Dubai. These increased prices currently being encountered in the Dubai market are forcing traders to check further afield once and for all returns. With Ras Al Khaimah being just a 45 moment drive from the center of Dubai, lots of people start to see the emirate as providing the required tranquil lifestyle along with offering good degrees of usage of the commercial hub that’s modern day Dubai.
The second major reason behind the increase in need for property in Al Marjan Island Ras Al Khaimah may be the good prospect of high rental returns and capital gains. With the emirate supplying a wide selection of individuals thinking about purchasing property, Ras Al Khaimah is rolling out a reputation to be a well balanced and strong rental marketplace. These high, and constant rental returns have led to numerous local and global investors concentrating their attentions on home in Ras Al Khaimah, and from other emirates in the UAE.