Marjan, the leading developer of freehold properties in Ras Al Khaimah, has announced a significant strategic partnership with Dara Properties to develop a new residential project within RAK Central, a prominent mixed-use development. This collaboration involves the acquisition of a 50,000 sq ft land parcel to build a 27-floor residential tower, scheduled for completion by the fourth quarter of 2027.
This project aims to enhance RAK Central’s residential offerings, aligning with Ras Al Khaimah’s Vision 2030 to create a vibrant ‘live, work, play’ environment that attracts both investors and tourists. Dara Properties is entering Ras Al Khaimah’s expanding real estate market for the first time with this development, which is strategically situated in RAK Central and designed to meet the rising demand for high-quality living spaces.
Project Insights:
The development will feature approximately 350 units, including studios, and one-, two-, and three-bedroom apartments that offer panoramic views of the emirate. The complex is conceived as a self-sufficient community offering a range of modern amenities such as a swimming pool, gym, padel courts, and multipurpose rooms, providing residents with a holistic lifestyle experience.
Project leaders’ views:
Key project stakeholders include Abdul Rahim Architectural Consultants, serving as the lead architectural consultant, and IBA House Interior Architects, responsible for interior design. The project aims to position RAK Central as a multi-purpose hub that combines residential, commercial, and entertainment spaces, further elevating its appeal as a comprehensive urban destination.
Dara Properties’ CEO, Andrey Luntovskiy, expressed enthusiasm about their debut project in Ras Al Khaimah, emphasizing the development’s focus on high-quality living spaces within a well-connected, integrated community. He highlighted Ras Al Khaimah’s transformation into a thriving business and tourism hub as an ideal environment for launching their signature project.
CEO Abdulla Al Abdouli of Marjan commented on RAK Central’s rapid growth and its appeal to global investors and local businesses. He welcomed Dara Properties to the community, aligning their focus on detail and smart living with Marjan’s vision of creating a world-class destination centered around the live, work, and play philosophy. He also outlined the masterplan’s extensive features, including 3 million sq ft of rentable office space, over 4,000 residential apartments, multiple hotels, parks, green spaces, retail and entertainment facilities, and sufficient parking.
Additionally, work is progressing on RAK Central’s headquarters, which is expected to be completed in early 2027 and will serve as the main business hub for the development.
Overall, this partnership marks a significant milestone in Ras Al Khaimah’s evolving urban landscape, reinforcing its position as a competitive regional hub for business, tourism, and real estate investment.
