Historically, Ras Al Khaimah’s economy was primarily based on fishing, agriculture, and pearl diving. However, in recent years, the emirate has undergone significant economic diversification and has emerged as a hub for manufacturing, tourism, and real estate development. Whilst tourism has been a popular destination for tourists for many years it is the advent of Free Trade Zones that have attracted major foreign investment. These zones provide businesses with various incentives, such as tax exemptions and 100% foreign ownership.
The emirate is further enhanced by as a well-developed education system with schools and universities offering a wide range of academic programs and high quality healthcare facilities providing all residents with access to medical services.
Ras al-Khaimah real estate is enjoying a period of robust growth on the back of supporting infrastructure, complementary policies, and a diversified economy. Land and Property transactions from the first half of 2022 showed a 45 per cent year-on-year increase.
As the country has diversified economically, Ras Al Khaimah has seen significant real estate development with numerous projects offering residential, commercial, and tourism-related properties to cope with the higher number of people seeking accommodation. Interest from property investors continues to grow in this emirate.