Major Developers have signed a strategic land acquisition deal with Marjan for a mixed-use commercial development at RAK Central, the emerging business district in Ras Al Khaimah.
The signing took place at Mövenpick Resort Al Marjan Island and marks Major Developers’ second project in the emirate.
Project details and timeline
The development is scheduled for completion by the fourth quarter of 2028 and will cover a built-up area of 265,000 sq ft.
It aims to enhance RAK Central’s position as an integrated destination combining residential and commercial spaces. This follows Major Developers’ earlier project, Manta Bay at Al Marjan Island.
Abdulla Al Abdouli, CEO of 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 of 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 overview
RAK Central is designed to be the commercial core of Ras Al Khaimah, offering benefits such as 100% foreign ownership, low taxation, and strong yield potential.
Located on Sheikh Mohammed bin Salem Al Qasimi Street, it overlooks Al Hamra Golf Club and the Arabian Gulf.
The district follows a “Work–Live–Play” concept, combining office spaces, residential apartments, hotels, parks, retail, and entertainment facilities. The masterplan includes three million sq ft of rentable office space, over 4,000 apartments, four hotels with more than 1,000 keys, multiple parks, and over 1,000 visitor parking spaces.
Construction of RAK Central HQ, the main business complex, is underway and expected to complete in early 2027.
tanvir@dubainewsweek.com
