Ras Al Khaimah launch 'RAK Central' as 'largest business district in Northern Emirates'
RAK Central project to focus on Grade A offices and more
Dubai: After the homes, hotels and resorts come the offices.
Ras Al Khaimah has launched a massive mixed-use development – RAK Central – that will have Grade A offices and become the ‘largest commercial business district in the Northern Emirates’.
To be developed by Marjan, it will be located on Sheikh Mohammed bin Salem Al Qasimi Street and with some eye-catching views of Al Hamra Golf Club and the Arabian Gulf. Opening is scheduled for 2026.
Commercial spaces will be tailored as ‘per the needs of anchor-tenants’, with open floor plans to facilitate a flexible design.
“In due course, RAK Central is expected to become Ras Al Khaimah’s largest business hub, attracting leading businesses and other entities in the region to set up their headquarters,” said a statement.
Ras Al Khaimah has been hosting one of the fastest growing property markets in the Gulf, helmed by signature developments such as the upcoming one from Wynn resorts, the investment flows down by Aldar and other developers, as well as the gains made by Rakez (Ras Al Khaimah Free Zone). More recently, the emirate launched the RAK Digital Assets Authority and a hub for businesses in the virtual assets space.
A destination for global businesses
“RAK Central will usher in a new era of economic growth for Ras Al Khaimah, with a focus on not only providing international investors with high-value property but also by serving as a hub for businesses,” said Abdulla Al Abdouli, CEO of Marjan.
“This aligns with the vision of our leadership to strengthen the business ecosystem of the Emirate and serve as the first choice for residence, business and leisure.”
What will RAK Central provide?
A substantial 3 million square feet of rented office space and more than 4,000 residential apartments. Plus, there will be three hotels with 1,000 plus keys, multiple parks and retail and entertainment facilities.
Construction is to begin this year, with the first phase of the infrastructure and the main business complex likely to be completed in fourth quarter of 2026.
Multi-phase approach
- Construction of the first phase will include one million square feet of commercial office space for rent, and additional spaces offered for development.
- This will include 34 exclusive residential plots, where developers can build residential towers of up to 45 floors (or around 200 metres high).
- The developer Marjan will have its own headquarters and integrated mixed-use office complex as part of Phase 1.
“Following the success of Al Marjan Island, we are working on diverse projects across several locations, to create world-class master-planned communities that will serve as the ‘downtowns’ of the future - in addition to new lifestyle destinations on the mountains,” said Al Abdouli.
More to follow...