RAK Central Square in Ras Al Khaimah has already leased 20 per cent of its space ahead of its scheduled opening in September 2027, with strong demand for both retail and office units as multinational companies and government entities prepare to establish operations at the development.
Marjan, Ras Al Khaimah Tourism Development Authority (RAKTDA), and Al Hamra are among the confirmed occupants of the project, which marked its topping-out milestone on Wednesday. The development has also attracted reservations from multinational companies operating in the legal, entertainment and retail sectors.
Speaking to Khaleej Times on the sidelines of the ceremony, Ramy Jallad, Group Chief Executive Officer of Ras Al Khaimah Economic Zone (RAKEZ), said international companies had already begun securing office space at the development.
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The project, which marked its topping-out milestone on Wednesday, forms part of the wider RAK Central master development, and is targeting around 7,000 residential apartments and 1,000 hotel rooms alongside commercial, hospitality and entertainment facilities.
Jallad said the project had already attracted interest from international corporations looking to establish offices in the emirate.
“We’ve got already bookings and we’ve already got reservations from corporate offices who are multi-nationals, from legal firms, from entertainment firms, from retail firms,” he said.
Jallad explained that the development would offer Grade A office spaces ranging from 20 square metres to multiple floors, allowing businesses of different sizes, from entrepreneurs and start-ups to large corporations, to establish operations within the same destination.
He said demand for commercial space was coming from a wide range of industries, including manufacturing, high technology, artificial intelligence and other services, as companies increasingly seek modern office facilities to support their operations.
The growing interest comes as Ras Al Khaimah continues to attract new businesses. According to Jallad, RAKEZ currently hosts more than 50,000 companies operating across more than 100 industries.
He also reported that more than 20,000 companies are registering in Ras Al Khaimah in 2026, compared with more than 17,000 last year.
“We are constantly bringing in more and more companies from all over the world, and RAK Central is just going to be a major attraction,” he said.
Jallad added that companies would be able to customize their workplaces according to their requirements, with office spaces designed to accommodate different corporate needs.
“It’s going to be offering Grade A offices, it’s going to be offering customizable offices, and it’s going to be able for companies and corporates to design their own type of lifestyle, their own kind of office atmosphere and ecosystem,” he said.
Wider development to attract foreign investment
Abdulla Al Abdouli, Global Chief Executive Officer of Marjan Developments, said RAK Central Square would serve as a key component of the wider master development, helping attract foreign investment and support Ras Al Khaimah’s economic growth.
The development will include five Grade A office buildings, supported by residential, hospitality, retail and entertainment facilities, creating a community where residents can live and work within the same destination.
Al Abdouli said the project aims to meet growing demand for commercial space while giving businesses and their employees access to residential and leisure facilities.
Beyond attracting companies to its office buildings, the wider RAK Central master plan is also drawing interest from investors seeking to develop their own residential, hospitality and retail properties.
“Within the wider RAK Central master plan, we are attracting foreign direct investments where investors are buying plots next to us to build their own real estate asset, whether it is a residential building or a hospitality asset, as well as retail,” Al Abdouli said.
He described Marjan’s role as an “economic multiplier”, explaining that the project is expected to generate opportunities for businesses, investors and service providers beyond the immediate development.
The additional investment is also expected to create demand for hospitality, retail and other services, while supporting employment opportunities as more companies establish operations in the emirate.
“Having this attraction of foreign and local direct investment, creating new experiences, adding more hotel rooms, adding more job opportunities, creating a need for wider services across the whole destination. That’s what we are looking over here in Ras Al Khaimah,” he said.
Creating jobs and a new business community
Jallad said the arrival of more international companies would also create opportunities for employees and support demand for residential and hospitality facilities within the development.
He explained that RAK Central had been designed to bring offices, apartments and entertainment facilities together, allowing employees to live close to their workplaces.
“Obviously with these offices and more and more companies coming here, that’s why we put it in a park, we call it a business park, a residential park, and a hospitality park, because everything’s in one ecosystem,” he said.
Source: Khaleej Times