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The Ras Al Khaimah Free Trade Zone (RAK FTZ) is an extremely cost-effective solution to the various needs of businesses. It is home to thousands of companies from over 100 countries.
RAK FTZ consists of three parks. The Industrial Park provides warehousing and a construction site for heavy industries. The Technology Park caters to light industry projects and automated manufacturing. The Business Park sits in the hub of the business district of the emirate and is completely functional and ready for use. A fourth park, located near Sharjah and Fujairah and is still being developed, is Al Ghayl Industrial Park. It specifically caters to heavy industries in the construction market such as steel fabrication.
The free zone provides companies plots of industrial land in different sizes from where they can build their own premises. It also has a wide variety of offices: shell and core, executive, fully furnished and flexi desks ideal for small businesses. Tenants of these offices have access to the different services offered at the business centre. Other business solutions within the zone are warehouses available for lease on short or long-term basis.
Besides the easy accessibility to major airports and seaports in the UAE, RAK FTZ offers full ownership, complete profit and capital repatriation, topnotch communication facilities and a transparent application procedure. Also, besides reduced costs in business licencing, it also offers reduced rents and an overall lower cost of living. This competitive pricing across the board makes RAK FTZ an attractive option among investors, especially start-ups that are not as concerned about the location as they are about the cost.
Furthermore, it has a Customs office, onsite employee accommodation and a services centre in addition to various other service and administrative support conveniently situated within.
• Ras Al Khaimah has lower rents and a cheaper cost of living
• RAK FTZ has three different business parks for various firms
• A fourth park, the Al Ghayl Industrial Park, is being developed
Source: Saadiya Ahmad, Special to Properties
The writer is a freelancer