With its palm tree-lined avenues, ocean-facing mix and views of flats and villas in Dubai, Mina Al Arab is one of the prime residential communities that are new to shoot up in Ras Al Khaimah. Catering partially for the inflow of people seeking refuge from soaring rents in Dubai, the advancement has not proven unpopular this past year since beginning. About 65% of the 2,000 villas and flats are already occupied, reckons the developer RAK Properties.
Other property schemes are planned overly as the emirate seeks to tap into growing interest from tenants and investors. Such developments of apartments and villas in Dubai are an indicator that economy and population are on the upward. But the demographic amounts of the emirate have come under inspection. Standard & Poor's, the ratings agency, this month flagged as "not realistic" revised municipality data showing an over 50% leap in the emirate's citizenry to 413,000 in 2010 from 267,000 in '09. The figure for 2010 had been changed from an initial approximation of 279,000.
Despite the emirate's strong fiscal place - backstopped by the federal Government's monetary clout - S&P deemed the situation severe enough to reduce its outlook on RAK from stable to negative, mentioning "weaknesses" in demographic and economic data and "underdeveloped" government associations.
The transfer revealed at least a-one-in-three possibility the agency might downgrade RAK's A/a 1 long term and short term foreign and local currency sovereign credit scores over the next two years if the "effectiveness and predictability of Ras al Khaimah's government institutions and information availability stays at present levels."
A limit would increase the emirate's danger paying out a price that is higher. That cannot be harmless as the emirate continues to be dependent on bond investors to fund a percentage of its outlay. The UAE has made advances in improving the standard of its data result lately. Since its start in 2010, the National agency of Statistics (NBS) has centered on locating data spanning farming; and three primary areas: economics; class and social statistics and environment studies.
Despite the emirate's strong fiscal place - backstopped by the federal Government's monetary clout - S&P deemed the situation severe enough to reduce its outlook on RAK from stable to negative, mentioning "weaknesses" in demographic and economic data and "underdeveloped" government associations.
The transfer revealed at least a-one-in-three possibility the agency might downgrade RAK's A/a 1 long term and short term foreign and local currency sovereign credit scores over the next two years if the "effectiveness and predictability of Ras al Khaimah's government institutions and information availability stays at present levels."
A limit would increase the emirate's danger paying out a price that is higher. That cannot be harmless as the emirate continues to be dependent on bond investors to fund a percentage of its outlay. The UAE has made advances in improving the standard of its data result lately. Since its start in 2010, the National agency of Statistics (NBS) has centered on locating data spanning farming; and three primary areas: economics; class and social statistics and environment studies.