Ras Al Khaimah is set to lure big corporates to relocate to the emirate, as its major developer plans to build an all-inclusive mega business district featuring offices, apartments, hotels and parks.

To be rolled out in 2026, the RAK Central will be a “first of its kind” premium commercial hub that will attract businesses to set up headquarters in the emirate, said the project’s developer Marjan on Monday.

Once completed, there will be three million square feet of office space that can be leased to corporate tenants, as well as  more than 4,000 residential apartments and three hotels with more than 1,000 rooms.

The site will also feature multiple parks and green spaces, various retail and entertainment facilities and multiple buildings that will be interconnected.

RAK Vision 2030

Under its “Vision 2030” strategy, Ras Al Khaimah seeks to position itself as one of the top ten preferred destinations for businesses, attract foreign direct investments of more than AED45 billion and boost GDP growth by 4% per year.

It also looks to add 46,000 residential units and 15,000 hotel keys, as well as create an additional 5,000 jobs through urbanisation and real estate developments alone.

The proposed business district will provide a unique opportunity for RAK to attract large businesses who are looking to relocate to destinations that are modern and well connected, yet offer affordably priced commercial space, according to The One Properties, one of the brokerage firms marketing the project.

 “RAK Central is all about building a better lifestyle for corporate occupiers where they can work in a healthier, greener and friendlier place, live comfortably in close proximity to the workplace and enjoy a community that is rich with leisure, dining and shopping options,” the firm said on its website.

Work on the site will begin this year. The business hub will be developed in phases, with the first phase scheduled for completion in the fourth quarter of 2026.

The first phase will offer one million square feet of commercial office space for rent and additional spaces for development, including 34 residential plots, where developers can build residential towers of up to 45 floors.

The site will be developed on Sheikh Mohammed bin Salem Al Qasimi Street, offering views of Al Hamra Golf Club and the Arabian Gulf.

It is around 20 kilometres from the city centre and 35 kilometres from Ras Al Khaimah’s airport.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com