Pantheon Development
Kalpesh Kinariwala (Left), founder of Pantheon Development, Abdulla Al Abdouli (Right) CEO, Marjan. Image Credit: Supplied

Ras Al Khaimah/Dubai: Kalpesh Kinariwala, founder of the affordable luxury development pioneer, Pantheon Development, has announced expansion into Ras Al Khaimah. This expansion comes with the acquisition of four prime plots in RAK Central, developed by Marjan, to construct Dh1 billion worth of mixed-use properties.

Following a signing ceremony with Marjan, Kalpesh Kinariwala stated that Pantheon’s investment underscores the significance of Ras Al Khaimah as a premium destination for investors. The development of RAK Central further elevates the economic growth prospects of Ras Al Khaimah. This land acquisition also marks Pantheon’s maiden expansion into the northern emirates.

Commenting on RAK Central as the largest financial and commercial business hub in the northern emirates, Kalpesh Kinariwala said, “The land acquisition and our association with Marjan represent a strategic milestone for Pantheon Development. This is an opportunity for us to support RAK Central’s vision and participate in the overall growth prospects of Ras Al Khaimah in the northern emirates.”

Pantheon’s new investment will add to its current portfolio of Dh2 billion residential projects under development this year and Dh1 billion previous developments across 1.3 million square feet, most of which were delivered on time to investors. Pantheon Development marked its partnership with Marjan through a signing ceremony with Abdulla Al Abdouli, CEO of Marjan.

This expansion signifies the first time Pantheon Development has expanded its footprint outside of Dubai, with all its previous projects located in Jumeirah Village Circle (JVC). “Moreover, the land acquisition also denotes Pantheon’s expansion into mixed-use developments, complementing RAK Central’s vision of fostering economic growth for the Emirate,” said Kalpesh Kinariwala.

At RAK Central, Pantheon’s development will span commercial offices, hotels, and residential towers, aligning with the strategic urban and economic goals of Ras Al Khaimah. “We consider our association with Marjan as a significant step in our growth strategy, as it contributes to further building up Ras Al Khaimah’s reputation as an investment destination, catalyzing the Emirate’s prospects further,” said Kalpesh Kinariwala, adding that as a founder, he is proud of Pantheon’s growth journey based on the pillars of innovation and excellence.

Pantheon Development is an award-winning developer and was honored with the "Best Affordable Luxury Property" award in 2019, underscoring its reputation as a quality and sustainability-focused real estate company in the UAE.

About Pantheon Development:

Founded by Kalpesh Kinariwala, Pantheon Real Estate Development has established itself as a leader in the affordable luxury real estate market. With a commitment to innovation, sustainability, and quality, Pantheon Development is dedicated to creating environments that reflect the evolving needs of modern communities, contributing to the growth and dynamism of Ras Al Khaimah and beyond.