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RAK introduces world’s ‘first free zone’ for Metaverse companies

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Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, has issued laws to establish apparently the world’s first free zone dedicated to digital and virtual assets companies.

Established under Law No. 2 of 2023, the Ras Al Khaimah Digital Assets Oasis will be an independent governmental authority. The new law grants RAK Digital Assets Oasis financial, administrative, and legislative independence, allowing it to function as a purpose-built free zone to enable innovation in the virtual assets sector.

The setting up of DAO is in furtherance to Law No 1 of 2023, which outlines the establishment of the Department of the Future. The new department will play a pivotal role in promoting innovation and driving the Emirate’s economic development in the digital age, positioning Ras Al Khaimah as a leader in innovation and entrepreneurship in the digital and virtual assets sector.

Sheikh Saud said: “The Emirate of Ras Al Khaimah has been playing a leading role in national efforts to strengthen the UAE’s diversified, sustainable economy. With the nation’s focus on digitalisation and encouraging enterprises of the future, RAK Digital Assets Oasis will serve as the gateway for global digital and virtual assets companies to establish their operations and grow their business. Our commitment is to provide an inspiring, innovation-centric environment that helps realize bright ideas that have transformational impact on the world.

“The new free zone will further cement Ras Al Khaimah’s reputation as a destination of choice for next-generation business ventures and the economy of the future.”

To lead the initiative, Sheikh Mohammed Al Qasimi has been appointed chairman and Dr Sameer Al Ansari as the CEO. Sheikh Mohammed is the Chairman of RAK International Corporate Centre (RAK ICC) and a Board Member and Managing Director of RAKEZ, while Dr Al Ansari is the CEO of RAK ICC and a member of the Board of Directors of Marjan, Ras Al Khaimah’s flagship master developer.

Sheikh Mohammed Al Qasimi

The DAO will open for applications in the second quarter of 2023, becoming the only free zone in the world exclusively for digital and virtual asset companies that are innovating in new and emerging sectors, such as the metaverse, blockchain, utility tokens, virtual asset wallets, NFTs, DAOs, DApp, and other Web3-related businesses.

Sheikh Saud added: “Ras Al Khaimah’s unique combination of accessibility, agility, and liveability will foster responsible innovation and position the UAE at the forefront in driving the most successful disruptive tech transformations of the coming decades.

“We are focused on promoting entrepreneurship, including the digital and virtual assets sector, which thrives on innovation and speed. The new free zone will encourage young talent to implement their powerful ideas for the digital world, as well as drive global digital players to expand their footprint through our free zone, which will add incremental value to the economy by creating new jobs and promoting inward investment. RAK Digital Assets Oasis will be a key economic growth engine for Ras Al Khaimah and the wider region.”

 

For more information, please visit www.rakdao.com or follow them on Twitter at @RAK_DAO

Announcements

Dubai property boom fuels ANAROCK’s Middle East expansion plans

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ANAROCK Group has announced a major leadership reshuffle as it looks to expand its footprint across the Middle East and Europe, with a strong focus on Dubai’s growing real estate market.

The independent real estate consultancy said the appointments come as the region enters a new phase of growth, driven by rising investor confidence, infrastructure expansion and increasing demand across residential and institutional real estate sectors.

New leadership appointments

Anuj Kejriwal has been appointed CEO, EMEA, while continuing his current role as Founding Partner and Head of Retail Advisory.

In his expanded position, Kejriwal will oversee the rollout of ANAROCK’s institutional advisory services across the Middle East, including capital markets, land services, consulting and valuation.

The company said Dubai will act as the launchpad for its wider regional expansion strategy before moving into broader European markets.

Meanwhile, Aayush Puri has been named CEO – Residential, Middle East and CEO of ANAROCK Channel Partner (ACP).

He will lead the firm’s residential business across the region while continuing to oversee the international operations of ANACITY, the group’s proptech and property management platform.

Focus on Dubai’s growth

According to ANAROCK, Dubai’s real estate market remains one of the key long-term growth drivers for the company, supported by strong economic fundamentals and sustained investor demand.

The firm also plans to hire senior local talent across consulting, residential and capital markets divisions as part of its expansion push.

Anuj Puri, Chairman of ANAROCK Group, said the leadership changes reflect the company’s commitment to strengthening its regional presence and capturing new cross-border opportunities in one of the world’s most dynamic real estate markets.

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New women-focused platform launches in Dubai with regional expansion plans

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A new women-focused platform has officially launched in the UAE with ambitions to become one of the GCC’s leading ecosystems for female empowerment, entrepreneurship and community support.

FEMPOWERMENT was founded by Kirsten Jenna Michaels and Alexander Sailer and aims to support women through business opportunities, coaching, education and networking initiatives.

Launched in Dubai, the platform combines community events, business launch support, workshops, coaching programmes and large-scale experiences designed to help women grow personally and professionally.

At the centre of the initiative is the Women’s Business Launchpad, a programme created to help women set up and scale businesses in the UAE through partnerships with banking, licensing and business service providers.

Founder and CEO Kirsten Jenna Michaels said the platform was designed to move beyond traditional empowerment messaging and focus on creating real opportunities for women.

The platform also features tiered membership programmes offering access to networking events, certifications, workshops and coaching experiences, alongside promotional opportunities for female-led businesses.

Co-Founder Alexander Sailer said the long-term vision is to build a scalable ecosystem that helps women access funding, launch ventures and create sustainable growth opportunities across the region.

Alongside its business and networking focus, FEMPOWERMENT has also pledged to support social impact initiatives, including plans to provide meals for 1,000 labour camp workers in the UAE and contribute to healthcare and education-related causes.

The organisation plans to expand across the GCC and international markets as part of its broader growth strategy.

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Emiratisation targets 2026: What UAE private firms need to know

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The Ministry of Human Resources and Emiratisation (MoHRE) has confirmed that June 30, 2026, is the final deadline for private sector companies with 50 or more employees to meet Emiratisation targets for the first half of the year.

Under current rules, companies must achieve a 1% increase in Emiratisation for skilled jobs by the end of June, with another 1% increase required in the second half of 2026.

Starting July 1, firms that fail to meet the required targets will face financial penalties.

The ministry urged companies not to wait until the last minute and encouraged employers to use the Nafis platform to connect with Emirati jobseekers across multiple sectors and specialisations.

Officials said more than 50 days remain before the deadline, giving companies time to speed up hiring plans and improve compliance.

Fake Emiratisation practices

The ministry also warned against fake Emiratisation practices, saying advanced monitoring systems powered by artificial intelligence are being used to detect violations and attempts to manipulate targets.

Companies found violating Emiratisation regulations could face penalties, downgrading of their classification status and legal action.

Compliant companies may benefit from incentives under the Nafis programme, including discounts on ministry service fees and priority within government procurement systems.

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