RAK plans Academic District to house international educational institutions
Ras Al Khaimah Free Trade Zone (RAK FTZ) is planning to set up an education zone to attract international educational institutions in the emirate.
“The free zone's future development plans include establishing new warehouses in the RAK FTZ Technology Park to meet the investors' increasing demand for industrial facilities, master planning the Academic District to attract international educational institutions in RAK; continuously developing the infrastructure of the Industrial Park; and developing the one-stop shop's physical location for the clients' convenience,” the free zone said in a statement on Sunday.
RAK FTZ has also announced a significant growth in the number of its active companies from 8,000 to more than 8,600 clients hailing from over 100 countries and representing more than 50 industry sectors.
Ramy Jallad, Acting CEO of RAK FTZ , noted that the figure was driven by the free zone's strategy in attracting foreign investors to the emirate.
"Looking back in 2011, we had about 4,000 companies operating in the free zone. A couple of years later, our client portfolio rose to over 8,600. Our determination in developing not only our facilities but also our system and processes to provide ease to clients are definitely paying off. This is a proud moment for each of us in the free zone," Jallad said.
In 2015, RAK FTZ has undergone major infrastructure developments, which included the opening of 100 new warehouses with permanent water and electricity supply; the launching of its District Cooling Plant; and the inauguration of its Boulevard Business Centre in Downtown Dubai.
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