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The high-rise financial centre is touted be the largest business district in the Northern Emirates
February 02, 2024 | Staff Reporter | UAE | Developers
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.
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.
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 metres.
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.
