Ras Al Khaimah relaunches RAK Digital Assets Oasis as Innovation City

Image: Getty Images/ For illustrative purposes

RAK Digital Assets Oasis has been rebranded and relaunched as Innovation City (INC), positioning Ras Al Khaimah as a hub for technology and innovation companies, the authority said.

The initiative aims to create a global ecosystem for entrepreneurs and innovators, initially focusing on five sectors: Web3 and digital assets, artificial intelligence, gaming and iGaming, robotics, and healthtech and digital health.

Sheikh Mohammed bin Humaid Al Qasimi, chairman of Innovation City, said the project would help “shape industries and put Ras Al Khaimah on the map as a capital of innovation for decades to come.”

RAK’s AI-powered free zone

Innovation City will operate as an AI-powered free zone, using artificial intelligence to design regulatory frameworks and streamline company procedures.

It will also develop prime land in Ras Al Khaimah with infrastructure tailored to technology companies.

Paul Dawalibi, CEO of Innovation City, said the initiative supported the vision of Ruler Sheikh Saud bin Saqr Al Qasimi for “sustainable development, economic diversification and innovation.”

Ras Al Khaimah is promoting Innovation City as a base for global startups and enterprises, citing lifestyle advantages and its proximity to Dubai alongside the emirate’s natural landscapes and cultural heritage.

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