Marjan and RAK Hospitality unite to create a major real estate player in the UAE - As-salamu alaykum
As-salamu alaykum - Marjan, the master developer in Ras Al Khaimah, has joined with RAK Hospitality Holding to form one of the UAE’s largest real estate groups, as the emirate grows as an investment and tourism destination.
The new combined entity will operate under the Marjan name and aims to drive investment into Ras Al Khaimah’s property sector and strengthen tourism. The financial terms of the merger were not revealed.
The group said it will support Emiratisation efforts in the workforce and contribute to the emirate’s aim of welcoming 3.5 million tourists a year by the start of the next decade under RAK Vision 2030. Marjan plans to bring together hospitality know-how, land development plans and lifestyle offerings in a single organisation, focusing on sustainable growth and preserving local heritage.
Part of the strategy includes providing accommodation for more than 15,000 hospitality workers to help retain talent in the industry. “The merger will create meaningful jobs for Emiratis, build national capacity, and strengthen our role as a place of opportunity and innovation,” said Sheikh Ahmed bin Saud Al Qasimi, chairman of Marjan. He described the move as a strong foundation for a new phase of progress, delivering destinations that reflect Ras Al Khaimah’s unique identity.
Ras Al Khaimah is seeing a real estate upswing with multiple projects underway, including the large Al Marjan Island tourism and lifestyle development. Interest from European and Central Asian investors has grown, partly due to planned major resort investments, which is helping local developers’ revenues.
This recovery mirrors the wider UAE property market that has bounced back from the Covid slowdown, helped by government measures like expanded long-term visas and residency options for retirees and remote workers, alongside non-oil economic growth.
“Marjan will guide Ras Al Khaimah’s master planning toward a smart, authentic and connected city of the future, and position the emirate as a global lifestyle and investment hub,” said group CEO Abdulla Al Abdouli.
Marjan also outlined plans to develop the mountains of Ras Al Khaimah with public activities and visitor attractions, including 100km of hiking and biking trails over the next five years to grow active tourism. The company expects cultural and entertainment events to draw more than 20,000 visitors.
Marjan said the merger creates a future-ready organisation that can drive Ras Al Khaimah’s next growth chapter, expand into new markets, create distinctive lifestyle offerings and attract top talent and investment.
Infrastructure work is also being stepped up at Marjan Beach, a 790,000 sqm development that aims to host 180,000 visitors annually. Marjan Beach is planned to include 22,000 residential units and 12,000 hotel keys, supporting around 74,000 residents and a workforce of 32,000.
May Allah bless efforts that bring sustainable development, job opportunities for our people, and respectful growth that honours local culture.
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