Ras Al Khaimah's property sector continues to chart a high growth trajectory owing to the emirate's inherent strong economic fundamentals, stable policy and a fresh approach to development which has created robust demand for its new and iconic property development projects.
The launch of Rakeen, RAK Properties and Al Hamra Real Estate Development LLC has been instrumental in maximizing the emirate’s investment potential through the creation of unique and world- class property developments in the emirate.
RAK government's proactive approach in ensuring transparency and protecting the interests of investors has resulted in the adoption of many pioneering laws relating to foreign ownership, freehold, and property brokerage.
The freehold property law issued in 2005 made RAK the first emirate after Dubai to open up its freehold property sector
RAK has been the first emirate to provide for registration of ownership titles with the emirate's Land Department
First emirate to issue Law of Apartment Ownership and Common Property which deal with the regulation and usage of common utilities in residential apartments
RAK Government has also made escrow account mandatory for new real estate developments. A new property regulator, RAKIA Real Estate Regulatory Agency (RERA) has been established to oversee the implementation of new escrow account laws.
