RAK Central: When Will Sold-Out Real Estate Mega Project Welcome Businesses, Residents?

(MENAFN- Khaleej Times)

Ras Al Khaimah's newest community, RAK Central, is set to welcome its first wave of businesses by 2027. Billed as the largest business district in the Northern Emirates, RAK Central's master developer Marjan announced the completion of infrastructure works last week.

Abdulla Al Abdouli, CEO of Marjan, told Khaleej Times that RAK Central HQ - the office complex at the heart of the development - will open within 24 months, with piling already completed and construction contracts awarded. Serving as the anchor for the masterplan, the offices are designed to attract both international corporates and local businesses seeking a prestigious address. Residential units and hospitality projects will follow, creating a fully integrated“work-live-play” community.

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Spanning 3.1 million square metres with 8.3 million square feet of gross floor area, RAK Central will accommodate over 6,000 professionals. Five interconnected Grade A office buildings will sit alongside more than 4,000 residential units and over 1,000 hotel keys, primarily urban and business hotels supporting the growing commercial ecosystem. Abdouli described the development as a“mixed-use residential community,” with offices comprising 15 per cent and residential and hospitality 85 per cent of the masterplan.“The offices will be the anchor,” he said.“They attract people first, and then the real estate follows after a year or so.”

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Demand for office space in Ras Al Khaimah is robust, and RAK Central is designed to complement the broader UAE market rather than compete with it. Abdouli explained that while the UAE faces a shortage of quality office space, the development will create offerings that meet local demand while appealing to international brands.“We are not taking share; we are creating demand,” he said.“Contractors, engineering firms, consultancies, logistics companies, law firms, and other service providers are looking for high-quality space. RAK Central meets that need while supporting local businesses.”

For investors, early entry into RAK Central could be highly rewarding. Abdouli said buyers investing now could see returns of 15 to 20 per cent over the coming years, drawing parallels with Al Marjan Island's trajectory .“Back then, Ras Al Khaimah's real estate market was relatively unknown. Today, it's capturing global attention,” he noted. The emirate is projected to require at least 45,000 additional residential units over the next seven years, and RAK Central alone will contribute more than 4,000, filling a significant gap in supply.

Interest in RAK Central has been strong from the outset. All plots within the community were sold out in just 15 months, with many developers acquiring multiple plots to accelerate delivery. Both local publicly listed companies and regional and international investors have participated, reflecting confidence in the emirate's long-term growth.“They have done their own due diligence about the destination, and they have seen in Ras Al Khaimah a potential to achieve both capital gains, increase shareholder value, and enhance dividends for their customers,” Abdouli said.

The emirate's appeal is bolstered by strategic infrastructure and high-quality design. Roads, utilities, landscaping, and green spaces - including hundreds of trees - are complete, providing a ready platform for sub-developers.

RAK Central also benefits from its proximity to the $3.9 billion Wynn integrated resort , set to open in 2027. The resort will add 1,524 hotel keys and is expected to create around 7,500 jobs, stimulating demand for commercial and residential properties. Abdouli said the resort, alongside other developments, will attract service-oriented businesses, creating a self-reinforcing economic ecosystem.

The development's strategic location enhances its appeal further. Situated near Sheikh Mohammed bin Salem Al Qasimi Street, it offers easy access to the E-11 highway, scenic views of Al Hamra Golf Club and the Arabian Gulf, and proximity to Al Marjan Island, RAKEZ Free Zone, and Al Hamra Mall.

For Abdouli, RAK Central represents more than a real estate project; it is part of Ras Al Khaimah's broader vision to become a business-oriented, internationally recognised destination.“I see Ras Al Khaimah becoming an international destination, a tourist hub, a business-oriented city that attracts international businesses, visitors, and residents,” he said.“Marjan will play a key role in creating these unique anchors and real estate destinations that make Ras Al Khaimah a global city.”

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