Ras Al Khaimah on the up

10 July 2007

1 minute read

Fancy working in Ras Al Khaimah? Now's your chance.

A recent report in the Khaleej Times suggests over 1,000 companies may move to the new Ras Al Khaimah Financial City.

Jobs are likely to follow. "The financial city is expected to create thousands of jobs as it strives to become a financial services hub," says Dr Imad Haffar, chief operating officer of Rakeen, the real estate arm of the Ras Al Khaimah government, which is behind the project.

However, recruiters are not unanimously confident that the new development will generate as many jobs as predicted. "We've had no dealings with this and would see it being very difficult for them to compete with Dubai," says Will Hauxwell, associate director of the Charterhouse Partnership.

The Gulf region already has three leading offshore financial centres: Bahrain, Qatar Financial Centre and Dubai International Financial Centre, which currently has over 414 companies registered.

So will Ras Al Khaimah succeed? There are certainly upsides - the cost of housing is cheaper than Dubai for a start and traffic snarls are nowhere to be seen.

AUTHOReFinancialCareers Gulf

Insider Comment

Fa
Farzana
20 July 2010
veery happy to hear this and hope Rasalkhaimah will reach its highest position than any
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Vo
Vollen
14 September 2007
Well, Ras al khaimah has a big potential for growth. Rome was not built in a day and RAK is heading there. There are those naturing the big dreams for RAK and believe me you nothing comes from nowhere so the dreamers of RAK are better than those in Dubai who think they have reached the pic and have won the race. Bravo RAK and continue coming up with such brillian ideas but start employing expats now so as to realize your dreams. Companies in RAK are not competitive in first place so they dont even get the best of expertise. I dream of a RAK where 'how much would you ask for if offered this job' would come last and not first in a job interview. A cosmopolitan RAK where language was not a barrier.
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Em
Emma
20 August 2007
...and do any of you actually live in RAK? For goodness sake, the same was said of Dubai and companies such as Goldman Sachs et al could not get in their quick enough. Go do your research, RAK has massive investment and is on course for steady growth.
By the way, my water, electricity et al works very well and the Land Registry is up and running. Now how long ago was it that half of England was under water with no power or clean water, foot and mouth broke out and farmers were again burning cattle and the US was unable to rescue or feed its own after the levies broke.
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al
alan
19 July 2007
and read www.qatarsucks.com very carefully before asking me about new york and london
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al
alan
18 July 2007
what it took is something called democracy and property rights. show me the democracy first before dreaming about being a financial centre. show me the property laws too.
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