Marjan CEO Unveils Plans for New Mega Master Development in Ras Al Khaimah

Demand Driving Development

RAK faces an unprecedented housing shortage. According to Marjan CEO Abdulla Rashed Al Abdouli, the emirate will require at least 45,000 new residential units in the next 5–7 years. Population growth, projected to climb from 400,000 to 650,000 by 2030, is fueling demand far faster than supply.

More than 14,000 units are already planned for delivery between 2026 and 2029, many of them branded residences, reflecting the emirate’s push into the luxury segment.

Tourism Expansion as a Catalyst

Tourism remains central to RAK’s growth strategy. The emirate targets 3.5 million visitors annually by 2030. To support this, more than 8,000 hotel keys are already in place with another 8,000 in the pipeline.

Al Abdouli highlighted the ripple effect: even if only 5% of tourists decide to become residents, that alone would create demand for thousands of new homes.

RAK Central’s Rising Role

RAK Central has become the northern emirates’ first Grade A office space hub. Already sold out, it is expected to host 6,000 professionals, creating demand not just for housing but also for education, healthcare, retail, F&B, and entertainment.

This model of integrated development—work, live, and play—underpins Marjan’s future plans.

Building an Integrated Economy

Beyond real estate, Marjan’s vision is to establish self-sustaining communities that drive growth across multiple sectors. New hotels and businesses create demand for staff accommodation, healthcare facilities, supply chains, and retail infrastructure, ensuring a balanced and resilient economy.

Business-Friendly Environment

RAK is positioning itself not as a competitor to Dubai or Abu Dhabi, but as an independent market. Investors are drawn by:

• Transparent legal frameworks
• Ease of doing business and licensing
• Strategic location with natural amenities
• A growing ecosystem of offices, residences, and leisure options

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