RAK Central-The New High-Rise Business Center.

  • 4 weeks ago
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Ras Al Khaimah is all set to host the largest business district from the Northern Emirates of UAE !!

RAK CENTRAL – a destination for global businesses will escort a new era of economic growth for Ras Al Khaimah. It aims to strengthen the business ecosystem of the Emirate and serve as a first choice for not only businesses but also for residence and leisure. It is set to be unveiled in Q4- 2026 and shall be strategically located on Sheikh Mohammed Bin Salem Al Qasimi Street; offering enormous views of the Arabian Gulf and Al Hamra Golf Club.

It shall be developed by the renowned Master Developer of freehold properties in RAK- “MARJAN” and shall follow sustainability principles set out under the LEED Gold Certification. The development of this business district will harness Artificial Intelligence (AI) to create smart and sustainable state of art ecosystem. This business hub shall be developed in various phases; however, upon completion it aims to offer 3 million square feet of rentable office spaces, 4000+ residential apartments, 3 hotels with over 1000 keys, retail & entertainment hubs, green spaces, interconnected buildings with over 1000 visitor parking spaces.

The first phase of construction work is scheduled to begin in 2024. It is set to include one million square feet office space for rent, 34 exclusive residential plots where developers can build residential towers of up to 45 floors or approx. 200 meters high. The grandeur of this project is expecting to attract global investments from MNC’s in diverse business sectors- primarily from hospitality, finance, retail & leisure, construction, finance and logistics.

While it aims to strengthen the business ecosystem of the Emirate of Ras Al Khaimah, it shall also expand the modern waterfront cityscape of RAK further inland. The commercial spaces here will be tailored with open floor plans to facilitate unique requirements of anchor tenants. The developer Marjan will have its own headquarters and integrated mixed-use office complex as part of phase 1. In due course it aims to attract many businesses and other entities in the region to set up their headquarters here.

Bayut’s RAK Annual Report 2023 states that “2023 was a Year of Change” for Ras Al Khaimah while the future seems promising for it. The rental prices for villas in popular areas increased by 9.37% and apartments saw rental spike by 10.5 %; the sales prices of villas and apartments surged by 3.5% and 18.5 % respectively in 2023. This surge is signifying a growth trend in RAK, manifesting it as an emerging property investment alternative in the UAE.

The investor-friendly government policies, the upcoming Wynn Resort Project, the advent of virtual asset space by RAK Digital Assets Authority, launch of many branded off plan projects and introduction of RAK Central together are set to redefine the face of nature blessed Emirate of Ras Al Khaimah!

All things considered, RAK CENTRAL is definitely the new center of business attraction and investments in Ras Al Khaimah.

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