Ras Al Khaimah, UAE, July 1, 2025: In a move that signals growing investor confidence in Ras Al Khaimah's commercial landscape, Major Developers has secured a significant land acquisition at RAK Central through master developer Marjan. The deal, formalised at Mövenpick Resort Al Marjan Island, represents the developer's second major commitment to the northern emirate's rapidly evolving business district.

The ambitious mixed-use project will deliver 265,000 square feet of built-up area by the fourth quarter of 2028, adding substantial commercial and residential capacity to RAK Central's integrated community concept. This development strategy aligns with the emirate's vision of creating self-contained destinations that blend lifestyle, business, and investment opportunities.

Major Developers' latest venture builds on the momentum of their successful Manta Bay project at Al Marjan Island, demonstrating their strategic approach to capitalising on RAK's infrastructure-led growth trajectory. The announcement reinforces the emirate's position as an emerging hub for mixed-use developments that cater to both local and international market demands.

The signing ceremony underscores the collaborative approach between Marjan and private developers in advancing RAK's commercial real estate sector, with RAK Central positioned to become a key driver of the emirate's diversified economic ecosystem through 2028 and beyond.

In the official press release by Zawya, Abdulla Al Abdouli, Chief Executive Officer, 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.”

In the same press release, Andrei Charapenak, CEO, 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 is poised to become Ras Al Khaimah’s primary engine of business activity, a thoughtfully developed zone tailored to drive commercial growth and investment in the emirate. With investor-friendly advantages like 100% foreign ownership, minimal taxation, and strong return potential, it presents a rare opportunity in the region. Designed around a dynamic "Live–Work–Play" model, RAK Central blends cutting-edge infrastructure with people-focused urban planning to deliver an integrated environment for businesses and communities to thrive. Its prime location and forward-thinking layout solidify its position as one of the region’s most attractive investment destinations.

Marjan’s strategic collaborations to develop RAK Central ideally situated along Sheikh Mohammed bin Salem Al Qasimi Street with stunning vistas of Al Hamra Golf Club and the Arabian Gulf are drawing significant investment from global companies across key sectors such as hospitality, leisure, retail, finance, logistics, and construction.

The RAK Central masterplan features an expansive three million square feet of leasable office space, over 4,000 modern residential units, and four upscale hotels offering more than 1,000 keys. Designed for vibrant urban living, the district also includes lush parks, recreational zones, retail and entertainment venues, and a network of interconnected buildings with ample visitor parking, exceeding 1,000 spaces. Construction is actively progressing on RAK Central HQ, the development’s flagship business complex, which is slated for completion by Q1 2027.

Major Developers’ strategic investment in RAK Central marks a significant step in Ras Al Khaimah’s evolution as a thriving commercial and mixed-use hub. Backed by Marjan’s visionary planning, the project reinforces the emirate’s appeal to global investors and accelerates its infrastructure-led growth through 2028 and beyond.