Rakia’s licenses up 27% in 2010

06 Feb 2011

(MENAFN) The CEO at Ras Al Khaimah Investment Authority (Rakia), Khater Massaad, said that the number of licenses given out by the authority, which is considered a leading provider of investment opportunities in the country, increased by 27 percent amounting to 1,108 licenses in 2010, compared with the year 2009, reported Gulf News.

Massaad said that Rakia had issued 3,679 business licenses since 2006, 1,042 in the areas of consulting/service, 1,028 in trading/general, 659 in commercial, 628 in industrial and 322 in media.

Massaad also said that the total area of land leased by Rakia grew by 190 percent in 2010 to over 1 million square meters compared with 353,046 square meters in 2009.

Massaad added that in 2010 the authority signed 84 land lease contracts, around 85,000 square meters of land leased each month.

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