The government of Ras Al Khaimah in the UAE has launched an initiative with a local firm to bring in overseas investments for construction sector projects in the emirate.

The government has teamed up with RAK Ceramics, one of the world’s biggest ceramics products manufacturers, to launch Futurebuild RAK.
RAK Ceramics is a multinational manufacturer that boasts sales of around $300 million and exports to all continents.
The programme is being conducted under the stewardship of Dr Khater Massad, CEO of RAK Ceramics and adviser to the Crown Prince and Deputy Ruler of Ras Al Khaimah.
“The objective of this joint initiative is to attract investment in the emirate of Ras Al Khaimah in the manufacturing and logistics of high-quality building materials,” said Dinesh Bandiwadekar, head of Futurebuild RAK,
“The initiative will help facilitate and support building materials and construction product companies that wish to set up a manufacturing or logistic base in the emirate.”
“RAK Ceramics may consider investing as a partner for the manufacturing and marketing of select products that are found to be of great potential in regional and global markets,” said Bandiwadekar.
The official called upon investors to avail themselves of the incentives and advantages that the RAK government has been offering to entrepreneurs.
“The UAE is the right manufacturing location for catering to the price-competitive regional market and it provides an effective combination of good infrastructure rates, good quality and economical labour costs.
“A local presence helps over the long term than just having an agent.”
The Gulf construction boom is said to be of the value of $50-55 billion with the UAE accounting for $30 billion of that. About 70-75 per cent of the projects are around Dubai. “Ras Al Khaimah is an excellent, close location for manufacturing and is itself witnessing huge construction activity,” said Bandiwadekar.
The UAE Ministry of Public Works and Housing alone has projects worth $1 billion in progress throughout the country while Saudi Arabia has $20 billion worth of projects underway in the kingdom.
Bandiwadekar said the emirate of Ras Al Khaimah was in close proximity to Saudi Arabia and near Iraq, where reconstruction projects worth $2 billion were in progress.