Rakeen and RAKIA establish pioneering integrated investment package for foreign investors

Rakeen and RAKIA establish pioneering integrated investment package for foreign investors

RAK Business Invest inclusive of office space, residential unit, visa and other value-added business incentives

August 4, 2009
Rakeen, one of the region's most dynamic property developers and master planners, has recently announced that it has partnered with Ras Al Khaimah Investment Authority (RAKIA) to establish RAK Business Invest, a pioneering initiative that offers foreigners as well as UAE residents an unprecedented opportunity to invest in the UAE and own a luxurious residential unit through a single transaction.

RAK Business Invest is an all-in-one investment package inclusive of an office space, a residential unit, simplified visa processing procedures and a wide range of value-added business and lifestyle benefits. Overseas investors who avail of the package may choose from a selection of commercial amenities including furnished office space, commercial space, retail space, land, warehouse, cold storage or serviced apartments. They are also entitled to acquire well-appointed studio, one-bedroom, two-bedroom or three-bedroom beachfront residential units at Bab Al Bahr, the centrepiece development of Al Marjan Island, the first man-made island in Ras Al Khaimah.

Wahid Attalla, Executive Director, Rakeen, said, "We are creating a new and more attractive gateway for foreigners to expedite and gain greater value for their investment initiatives in the UAE. RAK Business Invest enables investors to enjoy a wide range of economic benefits as well as value-added incentives such as an integrated point of contact to facilitate both their commercial and residential requirements. This is truly a breakthrough joint initiative by Rakeen and RAKIA, as we are fully committed to continue to look for innovative solutions to promote and protect the interest of foreign investors in the emirate."

Jeremy Savory, Commercial Director, Rakeen, said, "Ras Al Khaimah has been gaining solid ground as a favourite destination of leading investor groups globally, and the RAK Business Invest initiative is another important step that will help further cultivate strong bilateral relations with these countries. RAK Business Invest targets all nationalities and business sectors, as the more diversity the better. As such, we will conduct dedicated road shows and hold one-on-one meetings with high net-worth individuals and leading business and investment figures in various countries. We have likewise established a dedicated sales team that will attend to all requirements of investors availing of the RAK Business Invest package."

RAK Business Invest serves as a one-stop solution wherein investors can make a single transaction to obtain both commercial and residential properties. The new service facility offers three levels of investment packages: Silver, Gold and Platinum, based on the size of the office and residential units being acquired by the investor. RAK Business Invest was developed in line with the laws and practices of the UAE Federal Government.

Those who avail of RAK Business Invest will continue to enjoy the emirate's free-zone and non-free-zone benefits and strategic business advantages that include tax exemption, minimal proof of capital, low-cost trade, excellent infrastructure, reduced bureaucracy and a highly centralised business location that is just a short distance away from other major economic hubs such as Dubai and Abu Dhabi, and is in proximity to three international airports as well as other key transportation facilities.

The new initiative is also in line with efforts to further strengthen Ras Al Khaimah's reputation as one of the fastest-emerging investment destinations in the region. The emirate was recently recognised as the most attractive destination for foreign direct investment by fDi Magazine / Financial Times, while the Ras Al Khaimah Government has obtained an "A" rating with stable outlook from rating agencies companies Fitch and Standard & Poor.