RAK Investment Authority Leading Investment Authority in UAE

RAK Investment Authority
Govt of Ras Al Khaimah
P.O.Box No. : 31291
Ras Al Khaimah
United Arab Emirates

Phone : +971 – 07 – 2446533 / 7251 / 7253
FAX :     +971 – 07 – 2447202 / 7697
Toll Free No : 800RAKIA
E-Mail: gm@rakinvestmentauthority.com
Web Site: http://www.rak-ia.com/

Having a visionary leader is the beginning of progress in any enterprise and for Ras Al Khaimah, His Highness the Deputy Ruler and Prince of Ras Al Khaimah, Sheikh Saud Bin Saqr Al Qassimi has provided that beginning.

A comprehensive developmental program that was aimed at enhancing the quality of life in Ras Al Khaimah and providing its denizens a richer life has been showing results. The setting up of the RAK Investment Authority is a step towards consolidating these gains of the past few years and moving on to the next level of growth.

The success of RAK Ceramics, RAK Bank, Julphar Pharmaceuticals, and the many cement companies, all point out to the advantages of cost- leadership that this Emirate offers the discerning and intelligent investor. In addition, at the RAK Investment Authority, we will be taking steps to put in place world -class infra-structural faci

lities and modernizing the legal environment so that RAK continues to remain one of the most attractive destinations for local, regional and international investments.

The Authority will operate a Free Zone for foreign investors who wish to have full ownership and to avail of the tax and duty concessions. It will also partner investors who wish to invest in ventures outside the Free Zone. To further facilitate the investment process, the processing of applications, issuing of licenses and registration have been made simpler with dedicated personnel from the Authority assigned to the task.

Qualified personnel from well- known multinational consultancies have been retained to help investors assess the feasibility and viability of their projects, so that the RAK promise of richer returns is a reality for all.

The beautiful landscape of Ras Al Khaimah offers immense potential for investments in tourism and tourism infrastructure. Prestigious hotels like the Al Hamra Fort run to nearly full occupancy levels and the villas of the Al Hamra Village have found eager buyers from Europe and the Middle East. The beach side project of Port Arabia, the Marjan Island and the unique Jebel Jais mountain project all offer attractive avenues for those who wish to participate in the growth that Ras Al Khaimah tourism will witness in the coming years.

As we see it, the bottom line is clear, it’s Ras Al Khaimah, where the returns are!

Ras Al Khaimah Investment Authority (RAKIA) was established following the Emiri Decree No. (2)/ 2005 issued by H.H. Sheikh Saqr Bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah. Two years after it was formally given its mandate to promote and oversee the economic development of the northern emirate, RAKIA has literally transformed Ras Al Khaimah into an investment magnet with over a thousand foreign investors setting up operations within the emirate in just a short period of time.

RAKIA has been exceeding expectations as it continues to steer the emirate’s economy towards unprecedented heights. For one, within just two years of its inception, RAKIA has amassed over USD 2 billion in investments, powering an unprecedented economic surge that has made Ras Al Khaimah one of the fastest growing emirates in the UAE and the region.

Amazingly, RAKIA’s aggressive expansion initiatives have consolidated the emirate’s reputation as an investment haven for virtually all sectors; in fact, the licenses RAKIA has issued show a remarkable balance among key sectors – 31 per cent of licences went to commercial companies, 22 per cent to industrial firms and 20 per cent to consultancy and service companies. RAKIA has also made significant investments in infrastructure and knowledge to attract world-class IT and technology companies. As a result, several global firms are making their way to the emirate, led by industry leader IBM, which has revealed plans to partner with RAKIA in setting up a state-of-the-art data centre.

Vision:
Gobalisation and regionalization trends make it essential for institutions and governments to be more efficient and flexible in order to compete in the market place. Our vision is that RAKIA becomes leading authority in making sound investments in Ras Al Khaimah and partner with others who share our vision, enabling them to achieve their objectives, at the same time creating a sustainable and growing economy.nd business recovery facility.

Mission:
To provide the vehicle for our investors to be able to setup sustainable business in an effective way, through the implementation of simplified processes, while empowering our staff to reach new levels of excellence in providing unmatched customer service. In doing so, we ultimately achieve the goal of improving the quality of lifestyle for all our partners, employees and stakeholders.

Under the direction of H.H. Sheikh Saud bin Saqr Al Qasimi, the Crown Prince & Deputy Ruler of Ras Al Khaimah, we are persuing the goal of making Ras Al Khaimah a regional hub for industrial manufacturing, service sector & Tourism. RAK’s GDP has grown by more than 50% over the last four years. The Growth is driven by increased focus on manufacturing, services, real estate, construction and tourism.

Recently RAKIA has formed RAKOFFSHORE which is a true offshore facility and regularity body offering complete offshore non-resident business registration and financial services.

In building sustainable communities Real Estate development plays a major role. It sustains the economy by creating jobs and investment opportunities, The vision led to formation of two real estate development companies, RAK Properties and Rakeen Development.

RAK Properties is a public share property developer that is engaged in the development of a number of local projects such as Port Arabia or (Mina Al Arab) with 9 hotel complexes, multiple residential dwelling and touristic attractions in Ras Al Khaimah as-well-as the developer of Julfar Towers, A residential complex downtown the city

Rakeen Development: Is a private joint stock company with a wider mandate that encompasses, local, regional and international developments. They utilise the latest environmentally friendly techniques in modern building technology. Rakeen’s core values are Sustainability, Responsibility & Prosperity. Rakeen is currently engaged in developing a number of projects some of which are:

Al Marjan Island 280 hectare of reclaimed land (A Man made Island) which will be a “Paradise on Sea”. This Island will have multiple projects in housing, time-share apartments, hotels, resorts and commercial buildings. Al Marjan will have the latest infrastructure technologies that are friendly to the environment and improves marine life at the same time. The reclamation will be completed by the end of 2007.

Jebal Jais Mountain Resort with a moderate climate even in hot summer starting from an altitude of 800 m ending with peak of a planed ski slope at an altitude of 1900 meters. The key features include Hill Station, Skiing, Rope Way, Trekking, Jogging Tracks, Natural Park & Retreats making it most sought-out living style in the region.

The Gateway City: this project is taking urban planning to a whole new altitude; It is a prototype city of how “ideal living should be”. The gateway city will house 150,000 Population in its first phase where we view it as the future city of Ras Al Khaimah.