Ras Al Khaimah has recently launched a very massive mixed-use development known as RAK Central that will possess Grade A offices and will become the largest commercial business district located in the Northern Emirates.
The mixed-use development will be developed by Marjan. Its commercial spaces will be designed as per the needs of anchor (major) tenants with open floors in order to enable a flexible design.
It has also been noted that Ras Al Kamiah has been the home of one of the fastest growing property markets in the Gulf, having been propelled by signature development projects such as the one that is upcoming from Wynn resorts, Aldar and other developers who have also put investments in the area, and also the profits that were made by the Rakez (Ras Al Khaimah Free Zone). Just recently, the emirate did launch the RAK Digital Assets Authority and a business hub in the virtual assets space.
RAK Central Facilities
The RAK Central will have quite a number of facilities. It is set to have 4,000 apartments for residential purposes. Additionally, there will also be a total of three hotels with over 1,000 keys, a number of parks, retail spaces, and entertainment facilities.
The RAK Central is set to usher in a new era of economic development and growth for Ras Al Khaimah by providing international investors with properties of high value and also serving as a business hub. “This corresponds with our leadership’s vision of strengthening the ecosystem of business of the Emirate and be the first option for residence, business activities and leisure activities,” said the CEO of Marjan, Abdulla Al Abdouli.
Commencing Date of the Project
The construction of the RAK Central has been scheduled to begin this year. The first phase of the project and the central business complex is expected to be completed in the fourth quarter of the year 2026. Its opening is scheduled for the year 2026.
The scope of the project will be executed in a multi-phase approach which will entail:
- The construction of the first phase of RAK Central which includes establishment of one million square feet of commercial office space that will be rented out and other additional spaces that will be offered for development purposes.
- This includes a total of 34 exclusive plots for residential purposes, where the developers will be able to construct residential towers that will be having up to 45 floors.
- Lastly, the developer of the RAK Central will have its own headquarters and an integrated mixed-use office complex as part of the Phase 1 of the project.
Location of the Project
The RAK Central will be located on the Sheikh Mohammed bin Salem Al Qasimi Street. It will also be having some refreshing views of the Al Hamra Golf Club and also the Arabian Gulf.
RAK Central is foreseen to becoming the largest business hub of Ras Al Khaimah’s by attracting the leading businesses in the region and other companies that will be interested to establish their headquarters in the property.
“In regards to the success of Al Marjan Island, we are currently working on a wider range of projects across multiple locations, in order to come up with a world-class and master-planned communities that will be the ‘downtowns ‘of the coming future-adding to the new lifestyle destinations located on the mountains,” Al Abdouli stated.