UAE: Ras Al Khaimah Construction

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Chapter | Construction & Real Estate from The Report: Ras Al Khaimah 2013

In many ways Ras Al Khaimah’s construction sector is the backbone of the local economy, with a number of major infrastructure projects enabling development across a range of sectors. The emirate is home to several major building materials producers, and it is well placed to serve the growing GCC market. Local projects such as the development of Al Marjan Island lend further support to the...

Bolstered by burgeoning cement and ceramics industries that draw on the natural resources of the Hajar Mountains, Ras Al Khaimah has one of the GCC’s more diversified economies. Continued investment in infrastructure is enabling further economic growth and encouraging foreign investment. 

What are RAK’s most significant competitive advantages? Why do you feel investors should choose RAK over other destinations?

Despite difficult economic conditions throughout much of the world, the property market in Ras Al Khaimah has remained relatively strong. Real estate prices peaked in 2008 and have since receded, with the low point coming in 2009 and 2010. However, the sector is now recording modest gains, and industry leaders expect demand to remain fairly constant...

Although the recent global economic downturn affected Ras Al Khaimah’s construction industry, the sector is moving forward and remains a key component of the emirate’s growing economy. While the recession has had an impact, industry players are taking steps to overcome many of these difficulties. Further, the focus on these challenges does not...

Although Ras Al Khaimah’s construction sector has not yet returned to pre-economic downturn levels of growth, local materials firms are mitigating the effects of the altered market using a variety of strategies. Concentrating on core business strengths, entering new markets and working on supplying key projects abroad are some of the methods...