TBY talks to Abdulrahman Jasem Alabdouli, Managing Director, Al Khaleej Investment, on the sector.

Abdulrahman Jasem Alabdouli

What is your view of the local real estate sector?

There is great stability in the sector. There is an opportunity in Ras Al Khaimah, mostly in health, education, and hospitality. This is due to the northern location of the Emirate, far away from the congestion and business areas. In addition, there is a gap in education and hospitality here. It will take time to fill those gaps in RAK, though it is currently one of the fastest-growing Emirates in UAE. It is, therefore, about opportunities and ease of doing business here, which is why many companies are moving here.

How challenging is it to change the perception of Ras Al Khaimah as a second home location for real estate?

At the beginning, locals from the other Emirates acquired property here as a second home. Later, Ras Al Khaimah started to attract those from the GCC. Under the vision of the ruler Sheikh Saud Bin Saqr Al Qasimi, Ras Al Khaimah has positioned itself as a tourist attraction providing modern and historical sites while maintaining its culture and security. The international markets will eventually be attracted to these salient features. There are mega hospitality projects currently under development that will further enhance and attract potential investors.