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Dubai-based Pantheon Development announced on Thursday the launch of its latest mixed-use project, One Central, located in Marjan's RAK Central master plan in the emirate of Ras Al Khaimah.
The developer had announced the land acquistion transaction for the project last month.
Pantheon Development said in a statement that the 450,000 square feet project will feature 312 residential apartments, a Grade A office building, and hotel apartments.
“Our vision in RAK Central Masterplan is more than just a real estate endeavour – it is a pivotal step towards building a sustainable, innovative, and economically robust community that will benefit residents, businesses, and the broader Northern Emirates region for years to come," said Kalpesh Kinariwala, Founder of Pantheon Development.
The statement said One Central will have a total sale value of approximately 1 billion UAE dirhams ($272 million), adding that it is expected to be completed in the fourth quarter of 2027.
Real estate consulting firm Betterhomes has been appointed as the exclusive sales partner for One Central, which will be located "six minutes" from Marjan Island, soon to be home to the world’s largest Wynn Casino, according to the statement.
“This project represents a landmark opportunity for both buyers and investors, offering an unparalleled blend of luxury living and flexible financing options," said Richard Waind, CEO of Betterhomes. The project will be formally launched on 21 November at the Coca-Cola Arena in Dubai.
(Writing by P Deol; Editing by Anoop Menon)
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