News DeskRas Al Khaimah, UAE – Marjan, the leading developer of freehold land in Ras Al Khaimah, through its subsidiary RAK Central, has entered into a strategic agreement with Pantheon Development to establish a significant mixed-use development in the emirate. Set within RAK Central, the upcoming project will feature residential apartments, office spaces, and hotel apartments, with completion expected by the first quarter of 2029.
This new development aligns with RAK Central’s goal to become a central business hub in Ras Al Khaimah, fostering a dynamic environment for work, living, and leisure. The partnership with Pantheon Development reaffirms RAK Central’s potential for growth and positions the area as a key driver for corporate activity in the Northern Emirates.
Arch. Abdulla Al Abdouli, CEO of Marjan, commented: “RAK Central is designed as a vibrant destination to strengthen Ras Al Khaimah’s business ecosystem in alignment with RAK Vision 2030. Pantheon Development’s commitment marks an exciting chapter in establishing a Grade-A commercial district in the Northern Emirates. This mixed-use project will contribute to our vision of creating one of the UAE’s most robust financial hubs, supporting the local economy and encouraging future investment in RAK Central.”
Founder of Pantheon Development, Kalpesh Kinariwala, expressed enthusiasm for the partnership, highlighting RAK Central’s potential as a significant financial center in the region: “We are excited to embark on a new journey at RAK Central. With its strategic location and focus on infrastructure, we aim to create vibrant urban communities and set new benchmarks for affordable luxury and modern living in the area.”
Strategically situated along Sheikh Mohammed bin Salem Al Qasimi Street, RAK Central offers scenic views of Al Hamra Golf Club and the Arabian Gulf. The development aims to become Ras Al Khaimah’s largest business hub, hosting local and international companies across sectors such as finance, hospitality, logistics, and retail.
Spanning over three million square feet, RAK Central will provide more than 4,000 residential units, four hotels with over 1,000 rooms, ample office space, parks, and retail and entertainment amenities. Construction is scheduled in phases, with the primary business complex set to open in late 2026, making RAK Central a premier destination for companies seeking a dynamic and interconnected corporate environment.
