On Wednesday, Marjan, the primary developer of freehold properties in Ras Al Khaimah, announced a significant merger with RAK Hospitality Holding (RAKHH), the government-owned investment and development agency of the Emirate. This strategic collaboration aims to propel Ras Al Khaimah’s position as a premier global destination for tourism, lifestyle, and investment.
The merger combines RAKHH’s extensive hospitality experience with Marjan’s land development expertise, thereby establishing one of the largest real estate developers in the UAE.
This united entity will streamline operations across real estate development, hospitality management, and lifestyle offerings under one umbrella, all in alignment with the emirate’s long-term vision outlined in RAK Vision 2030.
Sheikh Ahmed bin Saud bin Saqr Al Qasimi, chairman of Marjan, remarked, “This merger lays a strong foundation for a new era of progress and achievement, enabling us to create iconic destinations that resonate with Ras Al Khaimah’s unique character while generating high-value employment for Emiratis, fostering national skills development, and enhancing our standing as a hub of opportunity and innovation.”
Marjan-RAK Hospitality merger supports broader goals
Sheikh Ahmed noted that the merger supports the emirate’s objectives under RAK Vision 2030, which aims to attract 3.5 million annual visitors and nearly 20,000 hotel rooms by the end of the decade. He emphasized, “Ras Al Khaimah is dedicated to fostering progress and sustainable growth while honoring its rich history and cultural heritage.”
As part of the merger initiative, Marjan will spearhead several new flagship developments, including Al Marjan Island, RAK Central, Marjan Beach, and a fresh masterplan for Jebel Jais. These projects will integrate mixed-use developments alongside lifestyle facilities encompassing healthcare, education, and sustainability-oriented services.
Abdulla Al Abdouli, group CEO of Marjan, stated that the new entity will “lead the charge for Ras Al Khaimah’s urban development and planning, transforming it into a smart, authentic, and interconnected city of the future that fosters thriving communities, businesses, and social environments.”
With the introduction of Marjan Beach—a vast mixed-use coastal project spanning 85 million square feet—the emirate is set to enhance its infrastructure, which will include 22,000 residential units, 12,000 hotel rooms, and 6.5 million square feet of green space.
This development will accommodate 74,000 residents and 32,000 workers, aiming to receive up to 180,000 visitors each year.
Expansion of tourism initiatives
Marjan is also set to broaden Ras Al Khaimah’s tourism portfolio beyond its coastline, planning to construct 100 kilometers of hiking and biking trails in the mountainous areas over the next five years. The organization aims to draw over 20,000 attendees each year by hosting premier cultural and entertainment events and is also committed to providing housing for 15,000 hospitality workers.
The merged entity will feature advanced laundry facilities capable of processing over 100,000 tonnes annually utilizing energy-efficient systems, aligning with Ras Al Khaimah’s commitment to sustainability and operational excellence.
Officials indicated that this merger is a crucial step in establishing a “future-ready” organization that can facilitate Ras Al Khaimah’s shift towards a more diversified economy and attract international investments.
Ras Al Khaimah, the northernmost emirate in the UAE, has established itself as a vibrant development hub with a diversified economy where no single sector contributes more than 27 percent to its GDP.
The emirate provides 100 percent foreign ownership, no personal income tax, and some of the lowest corporate tax rates globally, backed by ‘A’-range credit ratings from Fitch and S&P.
Marjan is responsible for several signature projects including Al Marjan Island, RAK Central, Marjan Beach, and Wynn Al Marjan Island, which are collectively redefining Ras Al Khaimah’s status as a luxurious tourism and lifestyle destination, featuring international names like Four Seasons, Nobu, Waldorf Astoria, and Ritz-Carlton.