The optimistic ranking displays the Emirate’s robust long-term progress prospects and ongoing financial diversification
Ras Al Khaimah’s strategic strategy to sustainable, cross-sector progress and robust financial and funding setting has been validated by worldwide credit standing company Fitch, which reaffirmed the ranking at ‘A+’ with a steady outlook.
Ras Al Khaimah Government welcomed the announcement as an endorsement of the Emirate’s resilient and increasing economic system, sound fiscal administration and the clear imaginative and prescient and unwavering dedication of its management to sustainable, long-term improvement and progress.
The Emirate’s landmark tourism initiatives, together with a serious built-in resort, luxurious motels and world-class leisure amenities, mixed with a surge in actual property income, are creating alternatives for buyers, driving additional funding and strengthening the Emirate’s financial resilience, in response to Fitch.
A Ras Al Khaimah Government spokesperson mentioned: “Ras Al Khaimah’s consistent A+ credit rating is owing to its disciplined economic strategy, ambitious investment agenda and long-term commitment to building a sustainable and diversified economy. The Emirate has experienced significant growth over several years to become an attractive global investment and tourism hub, as well as a leading destination to live, work and explore.”
In March, Ras Al Khaimah efficiently issued a 10-year USD1 billion sukuk, whereas holding complete public-sector debt at simply 11% of GDP – one of many lowest ranges amongst Fitch-rated sovereigns. This is predicted to fall to 9% by 2026.
Fitch estimated that Ras Al Khaimah achieved actual GDP progress of 6.7% in 2024, a rise from 3.6% the earlier 12 months. RAK Government anticipates this robust momentum to proceed, with common progress projected at 6.1% into 2026. This progress is pushed by key strategic initiatives, notably the event of the landmark $5.2 billion Wynn Al Marjan Island built-in resort. Set to open in 2027, the resort is poised to drive additional financial enlargement.
Fitch additionally highlighted Ras Al Khaimah’s excessive GDP per capita, robust governance, political stability and efficient rule of regulation – key components that contribute to the Emirate’s engaging funding setting. The ranking affirmation stands as an endorsement of the Emirate’s strong public funds, strong progress trajectory and its standing as a dynamic and safe world hub for enterprise and funding.