Ras Al Khaimah pays two ways, both tax-free — projected short-let rental income of up to ~10–15% and Wynn-driven capital growth (RAK prices already +117% since 2022), with a 2029 handover that sidesteps most of the early supply risk.  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌