Marjan, the master developer of freehold properties in Ras Al Khaimah, has announced a strategic land acquisition deal by Major Developers at RAK Central, its upcoming mixed-use commercial development in the northern emirate. The official signing of the project took place at the Mövenpick Resort Al Marjan Island, marking Major Developers’ second venture in Ras Al Khaimah and reinforcing their commitment to the emirate’s high-growth commercial and investment ecosystem.
Scheduled to be completed by Q4 2028, the high-performance, mixed-use development will span a built-up area of 265000 sq ft further enhancing RAK Central’s status as a progressive integrated destination for living and business. Following the successful launch of their flagship project, Manta Bay at Al Marjan Island, this latest venture underscores Major Developers’ continued confidence in the emirate’s economic vision and its infrastructure-driven approach to sustainable growth.
Abdulla Al Abdouli, Chief Executive Officer, Marjan, said: “With RAK Central, we’ve created a mega development that is structurally aligned with regional growth, global investment patterns, and national diversification goals. Major Developers’ decision to invest in this multi-use destination is testament to Ras Al Khaimah’s growing clout as a durable economic engine driving further progress. We welcome their participation in the evolution of RAK Central and look forward to a landmark addition to its evolving identity.”
Andrei Charapenak, CEO, Major Developers, added; “RAK Central represents a uniquely calibrated convergence of foresight, infrastructure, and regional alignment. As such Major Developers is excited to drive Ras Al Khaimah’s growth narrative through this multi-dimensional new project that is set to shape one of the UAE’s most profitable and forward-thinking economic hubs. We look forward to further driving this visionary project through our landmark architecture, experience, and performance.”
RAK Central is a meticulously planned business district designed to be the commercial nucleus of Ras Al Khaimah, offering rare investment fundamentals: 100% foreign ownership, low taxation, and high yield potential. RAK Central’s strategic location and smart design make it one of the most compelling investment zones in the region. Grounded in a “Work–Live–Play” philosophy, the district combines institutional infrastructure with human-centric planning to create a cohesive urban ecosystem.
Marjan’s strategic partnerships to develop RAK Central, located on Sheikh Mohammed bin Salem Al Qasimi Street, with spectacular views of Al Hamra Golf Club and the Arabian Gulf, is attracting investment from multinational companies in diverse business sectors, including hospitality, leisure, retail, finance, logistics and construction.
RAK Central masterplan offers three million square feet of rentable office space, more than 4,000 residential apartments, four hotels with a capacity surpassing 1,000 keys, multiple parks and green spaces, various retail and entertainment facilities, and several interconnected buildings with over 1,000 parking spaces for visitors. Work on RAK Central HQ, which will serve as the main business complex, is currently underway and expected to be completed in the first quarter of 2027.
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