Ras Al Khaimah Investment Authority

It issues licenses to operate within RAKIA owned special economic zones, provides business facilities and warehouses and provides investment funding.

RAKIA supports developments that include industrial parks, education, technology, real estate, transportation, manufacturing and energy, as well as offshore operations and other investments.

[1] Contrary to popular opinion, RAKIA is not a sovereign wealth fund (SWF) that would rely for example on steady income from oil or gas.

[6] RAKIA's Sheraton Metechi Palace Hotel in the capital Tbilisi was sold to an Iranian investor in December 2011 but payments for this transaction have not yet been completed as of July 2013.

In June 2013, the highly advertised plans to build a US$1 billion Real Madrid resort island in Ras Al Khaimah had to be cancelled due to the lack of funding.