Ras Al Khaimah has issued a freehold decree allowing foreigners and expatriates to enjoy complete ownership of properties within RAK Properties’ projects in the UAE emirate.

The decree, by Sheikh Saud bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah, states that RAK Properties can sell its residential, commercial and tourism units that are part of the company’s projects as freehold and without a time-bound ownership deed.
“This decree is a turning point in the history of the real estate sector in Ras Al Khaimah in particular and the UAE in general,” said RAK Properties managing director Mohammed Sultan Al Qadi.
This move comes in line with several other efforts that were taken by the Government of Ras Al Khaimah recently with the aim of supporting the lucrative projects of RAK Properties.
This decree was preceded by RAK Government granting 50 million sq ft of strategically located land to RAK Properties for its huge residential and industrial projects.
The decree is expected to give a huge boost for the economy of the emirate in all sectors, as it will attract a wide spectrum of foreign investors who are looking for a new and secure destination for their investments.