Ras Al Khaimah, A Rapidly Growing City – Benoy Kurien, Group CEO of Al Hamra Real Estate Development
Benoy Kurien, Group Chief Executive Officer of Al Hamra Real Estate Development, points out a few reasons why Ras Al Khaimah is growing
With an interesting archaeological heritage and rich cultural history dating back to the Bronze Age, Ras Al Khaimah, a Northern Emirate of the UAE, is one of the few places on earth that had been inhabited for more than 7,000 years. Its strategic location and favourable geographical factors have made it an attractive route for traders and merchants from across Asia, Africa, and Europe.
Today’s Ras Al Khaimah, backed by its naturally beautiful and serene landscape, is witnessing impressive economic growth with significant investments in infrastructure development. The emirate is rapidly evolving and bringing a new lifestyle choice for a diverse group of residents and tourists from across the world.
Location, location, location
With master-planned residential communities, world-class hotels, shopping malls, souks, entertainment facilities, leisure attractions and a superb infrastructure, Ras Al Khaimah is an idyllic city for families considering living close to nature and tranquility.
Only 45-60 minutes commute from the center of Dubai, Ras Al Khaimah offers the best of both worlds – urban lifestyle and proximity to nature. Residents can enjoy premium community living with all possible amenities and a unique blend of varied natural landscapes including majestic mountains, coastal beaches, mangroves, sprawling oases, desert and hot mineral springs in this northern Emirate.
The relaxed lifestyle of the emirate is further complemented with affordable and elegant living choices. Assuring a high quality of life and convenient access to all emirates, Ras Al Khaimah’s residential portfolio includes a wide range of short-term and long-term accommodation from flats in low-rise apartment buildings to waterfront villas and everything in between.
Moreover, the rental value on residences are today the most-competitive with studio apartments starting from AED 22,500 per year, further enabling residents to make significant savings monthly even if they work in neighbouring emirates. Also, investors looking for affordable homes in prime locations and high-rental yields have several options to explore.
The city is well-equipped with public facilities including schools, universities, hospitals, medical centres, parks, libraries, recreational and cultural amenities. Plus, recent announcements on utility tariffs by concerned authorities has enhanced the attractiveness of Ras Al Khaimah as an affordable alternative.
Besides the unparalleled quality of life in terms of space and better value for money, Ras Al Khaimah offers plenty of active living opportunities such as rock climbing and mountain hiking, as well as a variety of sports including golf, equestrian horse riding, desert off-roading, fishing, sailing and surfing. The serene lifestyle and close-knit community spirit are ideal for families.
The driving force behind Ras Al Khaimah’s considerable recognition on the local, regional and global stage is government’s economy diversification and development initiatives, in addition to the tax-free corporate business environment and the convenience of obtaining residence visas in its free zones in record time.
Recent statistics show that the government has been successful in cementing Ras Al Khaimah as one of the world’s most welcoming and efficient investment destinations by making it easy for foreign investors to set up their ventures in the UAE.
The recent inflow of investments in the hospitality, leisure, retail and MICE business will propel the city’s growth and help achieve its target of 1.5 million visitors by 2021 and a total of 3 million visitors by 2025. Home to the world’s longest zipline since 2018 at Jebel Jais, UAE’s highest point, Ras Al Khaimah continues to strengthen its reputation as one of the fastest-emerging tourism destinations in the region.
There’s no denying that relocating to Ras Al Khaimah is worth the move. It is a great alternative for UAE residents and tourists seeking to indulge in slower pace of life, thriving community feel and natural scenery.