D ubai, long the darling of the United Arab Emirates for its resorts, superlative shopping, and glamorous restaurants, may need to keep an eye on the upstart that’s snapping at its heels. While the UAE’s northernmost emirate of Ras Al Khaimah may not be as famous as its neighbor, great opportunities exist here. RAK, as it’s commonly known, has had a reputation for being sleepy – a weekend destination for UAE residents looking for a slower pace of life and less elevated accommodation. But it’s waking from its slumber and has ambitious plans. Big brand luxury hoteliers are rushing to make their mark on RAK’s coastline. The emirate is already home to luxury resorts by Ritz-Carlton, Waldorf Astoria, and InterContinental, and a new Anantara brings Maldives-style overwater villas to the neighborhood. According to Raki Phillips, CEO of the Ras Al Khaimah Tourism Development Authority (RAKTDA), more than 20 new hotel projects are in the pipeline, bringing an additional 7,183 keys to the emirate by 2027. But goals in Ras Al Khaimah go much further than opening hotels, and Phillips notes that development doesn’t come at the cost of the natural environment. It’s about expanding responsibly, he says. “As the licensing authority for all new hotel developments, RAKTDA is also able to set guidelines and protocols to regulate sustainability standards and work closely with hotels to ensure sustainable practices.”
International hotel brands setting up shop in Ras Al Khaimah have seen a sharp increase in tourism. — JACKIE JOHNS, MANAGING PARTNER CHRISTIE’S INTERNATIONAL REAL ESTATE DUBAI The emirate is also poised for growth beyond tourism. While increased leisure options, restaurants, and retail resulting from the new hotels will likely have a positive impact on residents’ quality of life, the additional development of infrastructure, along with improved health and transport facilities, make the emirate a serious contender for those looking for a long-term home. RAK is also positioning itself as an attractive option for entrepreneurs. The emirate’s strategic location for local and global trade, plus its facility to allow 100% foreign ownership of companies, low corporate tax, and low operating costs, make it an excellent place for businesses.
44 // ASPIRE ON THE SHORE
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