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Overview

Pushing ahead: Developments are spurring on projects in several new segments
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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 overshadow the range of positive developments taking…

Overview

Finding a niche: A wide variety of opportunities exist for investors
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With industry accounting for more than 30% of GDP in 2010, Ras Al Khaimah has positioned itself as an increasingly significant manufacturing centre within the UAE and the broader region. By making efficient use of its resources, such as the limestone deposits in the Hajjar Mountains, and investing in connectivity – the emirate has five ports, its own airport, and enjoys good road links to the…

Overview

The move forward: Modest gains a positive sign for future growth
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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 over the next several years. Demand for residential…

Overview

Securing supply: New investments in generation capacity and alternative sources
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Although the UAE is an oil-rich country – the eighth-largest producer of oil in the world, with output of 2.8m barrels per day (bpd) in 2010, according to the US Energy Information Administration, and the fourth-biggest exporter – the emirate of Ras Al Khaimah has relatively limited resources when it comes to hydrocarbons. Oil and gas accounted for 5% of GDP in 2010, according to the RAK Department…

Overview

Healthy expansion: Addressing a growing demand for services
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A rising population and changing lifestyle patterns are creating new challenges for Ras Al Khaimah’s health care industry. Increasing health care concerns are of great consequence to the government at both the federal and emirate level, and the situation requires greater participation from the private sector as well. New opportunities for the private sector alongside the government lie in the…

Overview

A line in the sand: The emirate’s strategic location has made defence a priority
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The area that now makes up present-day Ras Al Khaimah was historically a popular target for invaders due to the emirate’s strategic location at the entrance of the Gulf. This maritime potential made RAK an important shipping point throughout the ages. Indeed, RAK drew military challenges from not only Islamic clans in the Gulf, but also imperial powers such as the Sassanid, Dutch, Portuguese…

Overview

Steps forward: Reforming with an eye towards a stronger economy
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As the government of Ras Al Khaimah makes the necessary changes to drive growth forward and transition to a knowledge-based economy, one thing is clear: education and educational reform are of prime importance. Many of the firms that are today moving into RAK or that the government hopes to attract are in need of employees with specialised skill sets. To maximise the benefits of the growing economy…

Overview

Accommodating expansion: Increasing capacity across road, rail, air and sea
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Several factors, including an expanding population, a growing industrial base and the increasing number of tourists visiting the emirate are driving Ras Al Khaimah’s transport industry forward. RAK’s population jumped from 258,000 in 2008 to 279,000 in 2010, according to the most recent figures from the RAK Department of Economic Development (RAK DED). This represents growth of 8% in just two…

Overview

Moving up the ranks: Adding new infrastructure and building awareness to ensure continued growth
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Though one of the less well known emirates in the UAE, Ras Al Khaimah is quickly developing as a tourism destination. Indeed, tourism has been back on a healthy path since 2010, and industry leaders expect further growth in the coming years. The local economy overall is benefitting from the uptick in visitors as new hotels are being built. Operators in the transport sector are taking cooperative…
Interview

OBG talks to Dr Ayman Sahli, CEO, Julphar
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Interview:Ayman Sahli To what extent has the UAE’s health care industry been affected by the economic crisis? Where do you see the most potential for growth? AYMAN SAHLI: The health care industry in the UAE was not that affected by the economic downturn and has continued to grow at a double-digit pace. Being a necessity, the health care industry is recession-proof and there is still a lot…