RAKIA attracts Dh.2.5b in industrial investments

RAS AL KHAIMAH — In a major boost to the industrial sector of the emirate, the Ras Al Khaimah Investment Authority (RAKIA) has attracted Dh.2.5 billion in industrial investments in its first year of operations.

By Staff Reporter

  • Follow us on
  • google-news
  • whatsapp
  • telegram

Published: Wed 21 Jun 2006, 10:32 AM

Last updated: Sat 4 Apr 2015, 3:25 PM

The new industrial investments are spread over the RAKIA Free Zone and the Industrial Zone which have registered 86 new firms ever since its launch last year.

According to RAKIA figures, around 70 per cent of the Free Zone land of 2.19 million sq. mts and 80 per cent of the Industrial City (non-free zone) of 5 million sq. mts have been leased. "Additional land in Al Ghail Industrial City of 28 million sq. mts is now being offered to new investors and one million sq. mts has already been leased in 3 months", said Dr. Khater Massaad, Advisor to the RAK Crown Prince and CEO of RAKIA. He said that the new investments have generated jobs for 12,000 people as well.

"The transparent and proactive business culture promoted by Shaikh Saud bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah, has captured the attention of big-ticket global investors who are now queuing up to make RAK their manufacturing base. The project costs for setting up a new factory in RAK has been about 20 per cent to 25 per cent less compared to other destinations on account of better logistics, no incidence of duties and overheads or costs incurred in bureaucratic delays", he added.

More news from