FCC

Major Developers Expands into RAK Central

2025-07-09

Major Developers announced the acquisition of a prime land parcel in RAK Central, Ras Al Khaimah’s new commercial and administrative hub.

The move marks a significant milestone in the company’s expansion strategy and underscores its commitment to supporting the emirate’s infrastructure-driven ambitions under RAK Vision 2030, Ras Al Khaimah's strategic framework to achieve sustainable, diversified, and globally competitive growth.

“With RAK Central, we’ve created a mega-development that is structurally aligned with regional growth, global investment patterns, and national diversification goals. Major Developers’ decision to invest in this multi-use destination is a testament to Ras Al Khaimah’s growing clout as a durable economic engine driving further progress. We welcome their participation in the evolution of RAK Central and look forward to a landmark addition to its evolving identity,” said Abdulla Al Abdouli, Chief Executive Officer, Marjan.

“RAK Central represents a high-potential economic zone, and we see it as a natural extension of our growth strategy,” said Andrei Charapenak, CEO, Major Developers. “Every square foot we develop is driven by precision, performance, and investor confidence. This project enables us to deploy our design-led construction, financial foresight, and value-oriented execution in a district that reflects these very principles. Ras Al Khaimah’s infrastructure-first vision aligns seamlessly with our commitment to long-term capital appreciation, global partnerships, and regionally impactful development.”

Building on the success of its flagship Manta Bay development at Al Marjan Island, Major Developers is now extending its hallmark approach to RAK Central. This strategic acquisition further deepens the company’s alignment with the emirate’s long-term economic transformation and reflects a growing partnership with Ras Al Khaimah.

RAK Central stands out as a high-potential investment zone, offering 100% foreign ownership, low corporate taxation, and a future-ready master plan. Anchored in a ‘Work–Live–Play’ philosophy, the district is designed to attract regional headquarters, business expansions, and commercial operations through its integrated infrastructure and investor-friendly ecosystem.

The RAK Central master plan includes:

• Three million sq. ft. of rentable office space

• 4,000 residential apartments

• Four hotels offering 1,000+ keys

• Extensive parks, green spaces, and pedestrian zones

• Retail and entertainment precincts

• Over 1,000 visitor parking spaces across interconnected buildings

Development is already underway on RAK Central HQ, which will serve as the district’s primary business complex and anchor the wider commercial offering.