RAK’s real estate sector grows 45% over five year period

annual growth of real estate sector amounted to 15% per annum

RAS AL KHAIMAH 5 April 2017: The real estate sector in Ras  Al Khaimah has expanded considerably, increasing from Dh3.401 billion in 2011 to Dh4.947 billion in 2015, a total percentage of growth of 45 per cent, according to a study by the RAK Chamber of Commerce.

The annual growth of the real estate sector amounted to 15 per cent per annum over the stated period, and ranked 3rd after the industrial and tourism sectors, contributing 13.3 per cent, or Dh1.209 billion, of the emirate’s total capital in 2015, said Wam.

Rajaa Mohammed bin Juma Al Tunaiji, Head of the Economic Studies and Commercial Cooperation Department at RAK Chamber, said that the developments in Ras Al Khaimah’s economy over the last five years indicate the importance of the real estate sector and its overall contribution to the growth of the emirate’s economy.

  – By Angel Chan