Mega-developer takes shape in Ras Al Khaimah real-estate overhaul

The urban development landscape of the Emirate of Ras Al Khaimah is being reshaped as Marjan and RAK Hospitality Holding announced a landmark merger to form a unified entity under the Marjan brand, merging land-development and hospitality arms into one.

Under the partnership, Marjan will consolidate real-estate development, hospitality operations and lifestyle offerings, effectively becoming one of the largest property developers in the United Arab Emirates. According to executive statements, the move is aligned with the emirate’s long-term “RAK Vision 2030” plan, which sets targets such as welcoming 3.5 million visitors annually and delivering nearly 20,000 hotel keys.

His Highness Sheikh Ahmed bin Saud bin Saqr Al Qasimi, Chairman of Marjan, said the consolidation “builds upon solid foundations for a new chapter of advancement and success, enabling us to deliver iconic destinations that are deeply rooted in Ras Al Khaimah’s unique identity, creating high-value jobs for Emiratis, developing national capabilities and reinforcing our position as a beacon of opportunity and innovation.”

The integration merges RAKHH’s hospitality expertise with Marjan’s land-development mastery. Marjan already manages major master-planned developments including Al Marjan Island, Marjan Beach, RAK Central and the Jebel Jais master-plan. The merged entity is expected to accelerate execution across these projects while introducing new mixed-use schemes that incorporate amenities such as education, healthcare, entertainment and open-space infrastructure.

From an economic-development perspective, industry analysts say this consolidation is significant. According to one commentary, it positions the new Marjan as “the emirate’s contender to Dubai’s Emaar Properties and Abu Dhabi’s Aldar Properties”, bringing together vast land holdings and hospitality assets under one roof.

One key driver behind the merger is job creation: Marjan has indicated that over the next seven years, the new master-plans will generate more than 50,000 jobs, with the Marjan Beach project alone accounting for a majority of that number. The company emphasises that the focus is on domestic talent development and enhancing national capabilities.

In terms of investor appeal, the unified structure aims to step up the emirate’s attractiveness for foreign capital by offering a coherent platform combining hospitality, real-estate development and destination management. For example, Marjan now houses logistics, asset-management, leisure and destination-management subsidiaries previously under RAKHH.

However, the consolidation is not without challenges. The real-estate sector in Ras Al Khaimah has experienced rapid expansion—in 2024, apartment and villa sale prices jumped by about a third year-on-year in some communities, while transaction volumes surged to AED15 billion. While this signals strong demand, it also raises questions about sustainability of growth and oversupply risks.

The new entity will need to ensure it meets the “livability” promise embedded within RAK Vision 2030, balancing high-profile destination projects with the needs of existing communities. Executives emphasise that livability and sustainability are central features of the merged strategy, with the aim to create connected, authentic and smart spaces rather than purely luxury assets.

On the hospitality front, the consolidation arrives as Ras Al Khaimah targets a major expansion of its accommodation capacity and diversified tourism offerings, including active-tourism and nature-based experiences linked to its mountainous and coastal geography. The integration of hospitality development with real-estate is intended to allow quicker roll-out of branded residences, lifestyle hotels and mixed‐use resorts.

The newly combined Marjan platform also places emphasis on leveraging data, design and technology to become a “smart, authentic, connected city of the future,” according to Group CEO Abdulla Al Abdouli. He indicated that the new structure will allow more efficient delivery of project phases and accelerate the capture of investment and tourism flows.

For stakeholders—including investors, local authorities and communities—the merger signals a shift in the emirate’s approach from fragmented asset development to integrated destination creation. By consolidating the ecosystem, Marjan aims to drive higher returns while aligning more closely with Ras Al Khaimah’s economic-diversification and tourism objectives.