Investment, hospitality and lifestyle company Marjan and government-owned RAK Hospitality Holding have finalised a merger that will see the creation of a new entity.

The proposed combined company will operate under the Marjan brand, consolidating its hospitality and real estate operations in Ras Al Khaimah.

The new structure aims to streamline hospitality management, lifestyle and real estate development services.

Marjan intends to become one of the largest developers in the United Arab Emirates (UAE) and a master developer in the Northern Emirates.

The integration is set to include Marjan’s current and future projects such as Al Marjan Island, Marjan Beach, RAK Central, and the Jebel Jais masterplan.

These developments are designed to support Ras Al Khaimah’s broader objectives, including the RAK Vision 2030 initiative, which aims to attract 3.5 million visitors a year.

The initiative also includes the addition of nearly 20,000 hotel rooms across the emirate.

Marjan chairman Sheikh Ahmed bin Saud bin Saqr Al Qasimi said: “RAK Vision 2030 has set the emirate’s ambition to be a pioneer in the region for livability and a place where opportunities thrive.

“Anchored in this vision, the merger will create high-value jobs for Emiratis, develop national capabilities, and reinforce our position as a beacon of opportunity and innovation. Together, we are positioned to build thriving communities that bring the emirate’s bold vision for sustainable prosperity to life.”

By merging resources and expertise, Marjan aims to bolster the emirate’s growth strategy, focusing on integrated property development and hospitality services.

The unified entity plans to target increased investment and operational efficiency, while also supporting Ras Al Khaimah’s economic diversification goals.