Ras Al Khaimah’s strong economic and investment environment validated by Fitch affirmation of ‘A+’ credit rating, with Stable Outlook

 The positive rating reflects the Emirate’s strong long-term
growth prospects and ongoing economic diversification

Ras Al Khaimah’s
strategic approach to sustainable, cross-sector growth and strong economic and
investment environment has been validated by international credit rating agency
Fitch, which reaffirmed the rating at ‘A+’ with a stable outlook.
Ras Al Khaimah Government welcomed the announcement as an endorsement of the
Emirate’s resilient and expanding economy, sound fiscal management and the clear
vision and unwavering commitment of its leadership to sustainable, long-term
development and growth.
The Emirate’s landmark tourism projects, including a major integrated resort, luxury
hotels and world-class leisure facilities, combined with a surge in real estate revenue,
are creating opportunities for investors, driving further investment and strengthening
the Emirate’s economic resilience, according to Fitch.
A Ras Al Khaimah Government spokesperson said: “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 successfully issued a 10-year USD1 billion sukuk, while
keeping total public-sector debt at just 11% of GDP – one of the lowest levels among
Fitch-rated sovereigns. This is expected to fall to 9% by 2026.
Fitch estimated that Ras Al Khaimah achieved real GDP growth of 6.7% in 2024, an
increase from 3.6% the previous year. RAK Government anticipates this strong
momentum to continue, with average growth projected at 6.1% into 2026. This
growth is driven by key strategic initiatives, notably the development of the landmark
$5.2 billion Wynn Al Marjan Island integrated resort. Set to open in 2027, the resort is
poised to drive further economic expansion.
Fitch also highlighted Ras Al Khaimah’s high GDP per capita, strong governance,
political stability and effective rule of law – key factors that contribute to the

Emirate’s attractive investment environment. The rating affirmation stands as an
endorsement of the Emirate’s solid public finances, robust growth trajectory and its
status as a dynamic and secure global hub for business and investment.

*Source: AETOSWire