Dubai-based Pantheon Development has officially launched its flagship mixed-use project, One Central at RAK Central, with a total investment of $272 million. This project is part of Ras Al Khaimah’s largest business district, developed by Marjan. Following the successful launch of One Central, Pantheon plans to introduce two additional projects, each with a projected sale value of $272 million (1 billion AED), along with a branded hotel.
Kalpesh Kinariwala, the Founder of Pantheon Development, described One Central as a landmark development covering 450,000 square feet, featuring 312 residential apartments, a Grade A office building, and hotel apartments. The project aims to offer a mix of luxury, convenience, and lifestyle amenities.
The upcoming projects will be part of the second phase of development and the completion of the first phase is expected by the fourth quarter of 2027. Mr. Kinariwala indicated that Pantheon is considering launching an office tower as well. In addition to the new projects, Pantheon is negotiating with various global players to establish a branded hotel within the development. One Central is strategically located near Marjan Island, which is home to the world’s largest Wynn Casino, enhancing its appeal.
Mr. Kinariwala emphasized the anticipated growth in both tourism and population in Ras Al Khaimah over the next three years, projecting a demand for 45,000 houses in the area. Pantheon aims to play a significant role in addressing this demand in the residential market.
Regarding the concept of branded residences, Kinariwala expressed confidence in Pantheon’s ability to provide exceptional amenities and quality without the need for branding support, affirming that their offerings already exceed expectations.
One Central is designed to accommodate a variety of lifestyles, featuring studio, one-bedroom, and two-bedroom apartments, with select units offering exclusive amenities such as an attached pool. The development includes an infinity rooftop pool, a sky lounge, a jogging track, a cinema, and a dedicated dog park.
Mr. Kinariwala noted the increasing global interest in Ras Al Khaimah as an investment destination, highlighting the potential for growth in the region.
