RAK Central, a commercial and residential district in Al Hamra resort, has been revealed by Marjan, a property developer in Ras Al Khaimah. This ambitious development will encompass three million square feet of rentable office space, more than 4,000 apartments, and three hotels.
Prime location
Located on Sheikh Mohammed bin Salem Al Qasimi Street, RAK Central will not only provide ample office and residential accommodations but also include parks, green spaces, a variety of retail and entertainment options, and interconnected buildings. Additionally, Marjan’s vision for RAK Central is to establish it as the largest commercial business district in the Northern Emirates, boasting stunning views of the Al Hamra Golf Club and the Arabian Gulf.
Read more: Tourism soars in Ras Al Khaimah: 1.22 mn visitors in 2023
RAK Central to be implemented in stages
The project will be implemented in phases, with the first phase focusing on constructing one million square feet of commercial office space for rent, along with additional spaces available for development. Furthermore, RAK Central will provide 34 residential tower plots that can be purchased and developed by investors. These towers are expected to reach heights of up to 45 floors or approximately 200 meters.
Construction timeline
Marjan is currently exploring strategic partnerships to aid in the development of RAK Central. The company anticipates attracting investment from multinational corporations across various sectors, including hospitality, leisure, retail, finance, logistics, and construction. Moreover, construction is set to commence this year, with the first phase of infrastructure and the primary business complex projected to be completed by the fourth quarter of 2026.
Record-breaking tourism numbers
Last year, tourism in Ras Al Khaimah experienced record-breaking numbers, with 1.22 million tourists, an 8 percent increase from 2022.Also, the Ras Al Khaimah Tourism Development Authority reported a 24 percent annual growth in international visitors.
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