Category Archives: Business

Turn Idle Gold into Timeless Elegance: Joyalukkas Launches its Bigges Jewellery Festival with 0 percent Deduction on Old Gold and 40 percent off wastage/making charges

Announcing the initiative, Dr. Joy Alukkas, Chairman and Managing Director of Joyalukkas Group, said, “Old gold holds immense value — not just for individual families, but for our nation as a whole. Every piece of idle gold that re-enters circulation strengthens India’s economy and keeps its precious resources working for its people. Through this festival, we want to give our customers a wonderful opportunity to transform that latent value into beautiful new jewellery, while enjoying exceptional savings. We invite everyone to visit their nearest Joyalukkas showroom and experience a truly rewarding jewellery journey.”

Filium names former Seattle Mayor Bruce Harrell as CEO

FILIUM CORP. AND FORMER SEATTLE MAYOR BRUCE HARRELL ANNOUNCE STRATEGIC LEADERSHIP TRANSITION AND ESTABLISHMENT OF EXECUTIVE ADVISORY BOARD, POSITIONING THE COMPANY FOR ACCELERATED GLOBAL GROWTH

Filium names former Seattle Mayor Bruce Harrell as CEO and establishes an Executive Advisory Board with industry leaders, as retailers and brands, including Bass Pro Shops, Cabela’s, O’Neills and North Face, adopt Filium Activated technology.

Seattle, Washington — May 21, 2026 —  Filium, the Seattle-based award-winning material science innovator transforming textile performance through sustainable technology, today announced a series of strategic leadership and organizational developments designed to accelerate the company’s next phase of growth and reinforce its position as a leader in advanced textile solutions.

Filium has developed breakthrough PFAS-free textile technology engineered to deliver water repellency, soil release, and odor resistance while preserving breathability and fabric hand feel. The company’s proprietary solutions are helping redefine modern textile manufacturing by reducing water consumption, lowering energy use, extending fabric lifespan, and supporting healthier, more sustainable consumer products and ensuring that all communities benefit from this technology.

Filium technology has recently been featured in product lines carried by major global retailers and brands, including Bass Pro Shops, Cabela’s, O’Neills, and North Face.

As part of today’s announcement, Filium confirmed that Bruce Harrell will assume the role of Chief Executive Officer, succeeding Founder Raj Shah, who will continue to guide the company as Chairman of the Board.

“Raj Shah and his brother Ahkil Shah’s decades of leadership in the apparel and textile industry, combined with their deep understanding of sustainability and innovation, have positioned Filium at the forefront of a transformational movement in material science,” said Harrell, former Mayor of the City of Seattle. “I am honored to step into this leadership role at such an exciting moment for the company and the industry. Consumers and global brands are demanding products that perform at the highest level while reflecting modern environmental and wellness values, and Filium is uniquely positioned to help lead that evolution. The Shahs have been respected for decades as leading innovators and disruptors in the apparel industry. Their unprecedented success in brands like Mecca, supply chain innovation and record breaking 24% market share, gives Filium a unique advantage in material science.” 

Harrell continued, “Filium’s game-changing and award-winning technology is designed for every fabric type and every community. I am thrilled to join the team that is bringing this revolutionary approach to sustainable, innovative textiles to its next stage with new retailers, brands, and consumers.”  

Doug Lynch, President of Filium, added, “Bruce brings a unique combination of visionary leadership, operational discipline, AI integration and relationship-building expertise. Over the past several weeks, I have seen firsthand his commitment to collaboration, innovation, and performance excellence. His leadership will be instrumental as Filium scales its global growth strategy.”

Filium also announced the formation and expansion of its Executive Advisory Board, bringing together highly accomplished leaders from the global apparel, retail, sports, and brand marketing industries to support the company’s strategic initiatives and long-term expansion.

New members of the Executive Advisory Board include:

• Bob Philion, former President and CEO of Puma North America and COBRA PUMA Golf

• Laurie Black, longtime senior executive at Nordstrom, including service as President of Nordstrom Rack

• Chris Overholt, Chief Commercial Officer of Vinik Sports Group and the Tampa Bay Lightening, and former Senior Vice President and Head of Global Partnerships for Madison Square Garden Sports

• Dr. Badri Narayanan Gopalakrishnan, Founder of Infinite Sum Modeling, LLC.   

In addition, Larry Miller, Chairman of Jordan Brand at Nike and former President of Jordan Brand, who also serves on Filium’s Board of Directors, continues to provide strategic guidance to the company, commented, “The Shah brothers decades of stellar success in the apparel industry and with Bruce Harrell’s highly accomplished background will accelerate company’s mission. The Filum team understands innovation, culture and how to effectively build partnerships which will be key to their success.”  

Investor Brian Levine commented, “Filium has positioned itself as a true innovator within the textile industry by aligning performance, health, sustainability, and environmental responsibility in a way that is increasingly demanded by consumers and global brands alike. The company is challenging legacy assumptions in an industry historically driven primarily by cost and appearance.”

Chairman Raj Shah, who alongside Akhil Shah is a co-founder of Filium, added, “These leadership and organizational changes, coupled with their novel AI applications, reflect Filium’s unwavering commitment to innovation, sustainability, and long-term industry leadership. For decades, I have witnessed the environmental and human impact of traditional textile manufacturing. Filium was created to help change that reality, and I believe the company is exceptionally well positioned for continued growth and global influence in the material sciences sector.”   

InCred Alternative Investments leads INR 185 crore growth capital investment in VEM Technologies

Hyderabad, May  21 : InCred Alternative Investments, the alternative investment arm of InCred Capital Financial Services Limited, has announced a INR  185 crore growth capital investment in Hyderabad-based VEM Technologies Private Limited through its private equity funds  InCred Growth Partners Fund-I  and InCred Growth Partners Fund-II .

The investment reflects InCred Alternative Investments’ conviction in India’s rapidly evolving defence manufacturing ecosystem, driven by increasing indigenisation, strong policy support, rising defence capital expenditure, and growing export opportunities. The transaction comprises primary growth capital to support VEM Technologies’ expansion plans.

Founded in 1988 and promoted by Mr. V. Venkata Raju and family, VEM Technologies is a leading private-sector defence and aerospace company with expertise across system engineering, integration, design, manufacturing, and quality assurance for defence, aeronautics, and space systems and sub-systems. The company contributes critical components and systems to strategic missile programmes including BrahMos, Akash, and Prithvi, and has established itself as a key private-sector partner within India’s defence manufacturing ecosystem.

The investment comes at a time when India’s defence manufacturing sector is witnessing accelerated localisation, increasing order visibility, and growing export momentum. The capital will be utilised towards capacity expansion, strengthening advanced manufacturing infrastructure, and establishing a state-of-the-art manufacturing facility to support the company’s next phase of growth and anticipated opportunities across domestic and export markets.

Commenting on the investment, Vivek Singla, Managing Partner & CIO, InCred Alternative Investments, said,

“India’s defence and aerospace sector presents a compelling long-term investment opportunity, supported by structural policy reforms, increasing localisation, and rising focus on indigenous manufacturing capabilities. VEM Technologies stands out for its strong technological expertise, execution track record, and strategic positioning within India’s evolving defence ecosystem. We look forward to partnering with the management team as the company scales its manufacturing capabilities and strengthens its role within India’s growing defence and aerospace landscape.”

V. Venkata Raju, Founder, Chairman and Managing Director, VEM Technologies Private Limited, said,

“Over the last several years, the Indian defence sector has witnessed a meaningful shift towards indigenous design, development, and manufacturing. This investment will support us in strengthening our manufacturing infrastructure, enhancing our capabilities across complex defence and aerospace systems, and addressing the growing demand from both domestic and international markets. We are pleased to partner with InCred Alternative Investments as we enter the next phase of growth and expansion.”

InCred Growth Partners Fund (IGPF) is a series of private equity funds sponsored by InCred Capital Financial Services, focused on investing in high-quality founder-led Indian businesses operating in sectors of national importance. The strategy follows a high-conviction, concentrated portfolio approach with investments across select companies aimed at generating long-term value creation. The investment in VEM Technologies aligns with InCred Alternative Investments’ strategy of backing scalable businesses benefiting from long-term structural growth themes.

Launched in 2023, IGPF-I is the maiden private equity fund under the platform and a SEBI-registered Category II AIF, while IGPF-II was launched in late 2025.

Fujairah Terminals Signs Strategic Land Lease Agreements with Fujairah International Airport, Fujairah Free Zone Authority and Al Dahra Agriculture Trading

The Agreements strengthen Fujairah’s role as an important gateway for regional and global trade 

Abu Dhabi, UAE – 20 May 2026: Fujairah Terminals, part of AD Ports Group (ADX: ADPORTS), a leading global enabler of trade, industry, and logistics solutions, announced the signing of three strategic land lease agreements with Fujairah International Airport, Fujairah Free Zone Authority and Al Dahra Agriculture Trading.

The agreements aim to enhance connectivity and unlock new commercial opportunities across regional and international markets. They will also support the development of logistics and industrial capabilities, enable more efficient use of port and adjacent infrastructure, and strengthen service integration across the supply chain.

The leased lands, with a combined area of 130,000 sqm, will be utilised to enhance the logistics capabilities of Fujairah Terminals, reinforcing Fujairah’s role as a key gateway for regional and global trade, and support the UAE’s position as a leading hub for logistics, maritime services, and industrial growth.

Together, these agreements reflect the shared commitment to collaboration and sustainable economic growth, while supporting national priorities to strengthen supply chain resilience and drive economic diversification.

H.E Sharief Habib Al Awadhi, Director General, Fujairah Free Zone Authority, said: “This collaboration marks an important step in advancing Fujairah Free Zone Authority’s mission to provide an integrated, business-friendly environment that supports innovation and sustainable growth. By strengthening partnerships across key sectors, we continue to enhance our offering to investors while contributing to the development of a resilient and future-ready economy.” 

Captain Mohamed Al Yahyaei, CEO of Fujairah Terminals, said: “We’re pleased to sign these agreements with strategic national entities, including Fujairah International Airport, Fujairah Free Zone Authority, and Al Dahra Agriculture Trading, reflecting our commitment to strengthening Fujairah’s position as a regional and global gateway for trade. By expanding partnerships across logistics, infrastructure, and key industries, we are enabling greater connectivity, enhancing supply chain resilience, and supporting the continued growth and diversification of Fujairah’s trade ecosystem.” 

Arnoud van den Berg, Chief Executive Officer, Al Dahra Agriculture Trading, said: “At Al Dahra Agriculture Trading, we are committed to building strong partnerships that drive sustainable value and strengthen supply chain resilience. This agreement aligns with our long-term vision to support national priorities, while leveraging our expertise to deliver impactful solutions across local and global markets.”

Fujairah Terminals is a strategic maritime hub on the UAE’s eastern coast, serving as a key gateway for trade with the Indian Subcontinent, African trade lanes, and global markets. Established in 2017, the terminal features a multi-purpose facility handling containerised and general cargo, Ro-Ro, and cruise operations. Its quay wall extends to 1,000 metres, with a depth of 15 metres, enabling the terminal to accommodate larger vessels.

As part of the wider AD Ports Group ecosystem, Fujairah Terminals plays a vital role in delivering integrated, end-to-end supply chain solutions, connecting ports, industrial and free zones, logistics platforms, and digital services. Through its comprehensive service offering Fujairah Terminals supports the UAE’s position as a global logistics and trade hub, strengthening connectivity across the GCC, India, the Red Sea, and East Africa.

Insurance Investment Outsourcing Surpasses $5.5 Trillion as Private Markets and Global Expansion Reshape the Industry

IIOR Shows Record Outsourced Insurance AUM, Private Assets Near $1 Trillion, and Europe Emerging as a Global Growth Engine

 BOISE, Idaho, NEW YORK, CHICAGO, LONDON and HONG KONG, May 20 – Clearwater Analytics (NYSE: CWAN) today released the 2026 Insurance Investment Outsourcing Report (IIOR), produced in partnership with DCS Financial Consulting. The report captures $5.5 trillion in third-party general account insurance assets under management across 96 asset managers, a 23% increase year-over-year and a 65% increase since 2021, alongside $1.8 trillion in assets under advisement across 12 investment consultants. The findings point to an outsourcing market that has become larger, more global, and materially more complex.

 The 2026 IIOR reveals defining trends reshaping insurance investment management:

 Private Markets Cross a Threshold. Third-party private insurance AUM has more than doubled since 2021, reaching $947 billion and approaching one-third of outsourced insurance allocations alongside public assets. Insurers have moved steadily beyond traditional private placements into middle-market lending, infrastructure debt, and structured credit, and 67% of participating managers now offer private fixed income capabilities alongside their public strategies.

 Europe Rewrites the Map. Europe and the UK represent a major and expanding force in insurance outsourcing, with reported AUM growing 32% year-over-year and more than doubling since 2021, from $1.0 trillion to $2.1 trillion, reflecting both organic growth and broader manager participation in the IIOR. Europe and the UK now account for 38% of total outsourced insurance AUM. On a percentage basis, APAC and offshore markets grew even faster year-over-year, each significantly outpacing North America’s still-solid 12% gain. The findings reflect an outsourcing market that is no longer centered primarily in North America. Managers are increasingly winning mandates through global scale, regional specialization, or both.

 “The 2026 IIOR captures a transformation that no single number can fully convey. Private markets have crossed a threshold, Europe has reshaped the map, and the sophistication this industry now demands across asset classes, geographies, and regulatory environments is compounding,” said Sandeep Sahai, Chief Executive Officer of Clearwater Analytics. “We believe the power of partnership is what allows insurers and their managers to move with the confidence this moment requires. We invite you to read the full report and see what this transformation means for your business.”

 “What the 2026 IIOR makes clear is that insurance outsourcing is the prevailing model for how insurers deploy capital globally,” said Steve Doire, owner of DCS Financial Consulting and Strategic Advisor to Clearwater Analytics. “The near doubling of consultant AUA in two years tells you that insurers are engaging experts to build and manage increasingly diverse and complex strategic investment programs. The European surge is equally significant. This market has moved well beyond North American dominance, and the managers best positioned for what comes next are those who recognized this global shift and invested in the capability and presence to win across regions.”

A More Competitive Market Takes Shape

The growth of the IIOR reflects the growth of the market itself. What began as a report covering 40 participants now includes 108 managers and consultants and $5.5 trillion in assets under management. Over the past decade, the top 10 managers’ share of total AUM has declined from 70% to 59%, showing that more firms are competing for insurance mandates. Specialized and mid-sized managers are gaining ground through insurance expertise, private markets capabilities, and regional strength. Consultant AUA has also nearly doubled in two years, as insurers turn to outside expertise to help manage more complex investment programs.

What the Report Covers

The 2026 IIOR includes 96 asset manager profiles, 12 investment consultant profiles, global and regional rankings, and data on asset allocations, client types, and regional growth across major insurance investment markets. Together, these findings provide a clear view of where insurance assets are being managed, which firms are gaining share, and how the market is changing. The report is produced with DCS Financial Consulting, with Institutional Investor serving as industry engagement partner.

CM of Sikkim Travels by SNT City Runner Bus to Attend Sikkim Premier League Final

New Delhi, May 20: In line with the Government’s austerity measures and commitment towards responsible governance, Chief Minister Prem Singh Tamang on Monday travelled by the SNT City Runner bus to attend the final match of the Sikkim Premier League at Paljor Stadium.

The Chief Minister stated that the initiative was aimed at encouraging greater public participation in the use of public transport and promoting responsible practices in daily life.

He emphasised that such small yet meaningful efforts can collectively contribute towards strengthening administrative efficiency and conserving valuable resources.

The gesture also reflected the State Government’s continued focus on sustainable and people-centric governance practices.

Nitika Gujral To Make Her Debut At The Cannes Film Festival 2026

New Delhi, May 20: Indian luxury bridal label Nitika Gujral is set to make its presence felt on the global stage as founder and designer Nitika Gujral makes her debut at the 79th edition of the Cannes Film Festival in Cannes, France. Taking place from May 12 to 23, 2026, the internationally celebrated festival continues to serve as one of the world’s most influential cultural and cinematic platforms, bringing together global voices across fashion, film, and art.

Representing a contemporary vision of Indian couture, Nitika Gujral will participate in multiple fashion-led showcases and appearances during the Cannes period, including the prestigious Red Carpet Stair Walk at the Palais des Festivals on 21st and 22nd May 2026. She will be accompanied by her husband and co-founder Amit Gujral, as the duo walks the Cannes red carpet together representing the brand on an international platform.

At the intersection of heritage and modernity, the Nitika Gujral label has become synonymous with contemporary bridalwear rooted in Indian craftsmanship. Known for its lightweight couture, intricate hand embroidery, and modern silhouettes, the brand reinterprets traditional techniques through a refined and contemporary lens for today’s bride. Each ensemble reflects a strong focus on craftsmanship, customization, and wearability while celebrating India’s rich textile heritage.

For Cannes 2026, the label will showcase Noor d’Or, a collection inspired by the interplay of light, heritage, and modern glamour. Rooted in the richness of Indian bridal craftsmanship and infused with the cinematic elegance of the French Riviera, the collection brings together jewel-toned silks, intricate embellishments, and fluid contemporary silhouettes. Through Noor d’Or, the label explores a dialogue between tradition and modernity, creating couture that feels both globally relevant and deeply connected to Indian artistry.

Founded by Nitika Gujral, with Amit Gujral serving as co-founder, the label has evolved from a bespoke design studio into an independent couture brand with a growing digital and international presence. Over the years, the brand has built a strong identity within the bridal couture space through detailed craftsmanship, contemporary occasionwear, and a signature aesthetic that balances tradition with modern elegance.

Speaking about her Cannes debut, Nitika Gujral shared, “For me, fashion has always been about craftsmanship, detail, and creating pieces that feel timeless yet relevant. Representing my label at Cannes is an exciting opportunity to showcase Indian couture and craftsmanship on an international platform alongside so many talented creatives.”

Her Cannes appearance marks another milestone for the label as it continues to expand its presence within international fashion and luxury conversations, bringing contemporary Indian bridal couture to a global audience.

Yanis Varoufakis to Headline Web3 Summit 26 as Leading Voices Gather to Reclaim Digital Freedom in Berlin

Yanis Varoufakis – economist, political thinker, and one of the world’s most outspoken critics of concentrated economic and technological power will headline Web3 Summit 2026 in Berlin. He joins Gavin Wood, co-founder of Ethereum and creator of Polkadot, among the leading voices gathering to advance privacy, self-sovereignty, and the future of user-centric decentralised technology. 

BERLIN, May 20 – Web3 Summit 2026 today announced a wave of headline speakers for its return to Funkhaus Berlin on 18 and 19 June 2026. Billed as a festival for digital freedom, the Summit will bring together leading voices in economics, decentralised infrastructure, platform critique and Web3 culture. 

Organised by the Web 3.0 Technologies Foundation, the Summit will convene artists, founders, technologists, and cultural thinkers to examine how privacy, digital sovereignty and decentralised usability can move from principle to practice. The speaker selection aims to deepen that conversation at a moment when public concern over centralised digital infrastructure, platform power and the erosion of privacy continue to grow. 

Economist and former Greek Finance Minister Yanis Varoufakis, co-founder of Ethereum and creator of Polkadot and Kusama Gavin Wood, will join the Summit’s programme alongside Joan Westenberg, Friedrike Ernst and Amir Taaki, as it explores how technology can be built around people and not platforms. 

“Web3 Summit is not your run-of-the-mill tech conference – it’s a rally for digital freedom, and this year it arrives at a defining moment. Europe is debating chat control and Germany is pushing back against mass scanning of private messages. Surveillance is the default. At a time when platform extraction and dependency define most people’s digital lives, we’re bringing together the critics, builders and pioneers who are actually changing that – not in theory, but in practice.” said Thomas Fecker Boxler, Managing Director of the Web3 Foundation.

Vaourfakis will bring a controversial, political and economic lens to the question of who owns and governs digital systems shaping everyday life. Wood, one of the originators of Web3, will speak to the technical and philosophical foundations of a user-controlled internet. And To ground the programme in Web3 culture and practice, the Summit will also feature Joan Westenberg, writer and technology critic, Friederike Ernst, co-founder of Gnosis, and Amir Taaki, cypherpunk, early Bitcoin developer and privacy-tech pioneer. 

Westenberg offers cultural commentary on platform dependency and what it means to be human online. Ernst connects the Summit’s themes of privacy and self-sovereignty to the practical challenge of making decentralisation usable, drawing on her work across Gnosis Chain, Safe and the broader self-custody ecosystem. Taaki represents Web3’s radical roots: cryptography, free software, and resistance to centralised control, a thread that runs through Berlin’s own history of hacker culture and political experimentation. 

For the first time, Web3 Summit put these voices in the same room – critics of concentrated power, builders of decentralised infrastructure, cultural observers, and cyberpunk pioneers – to confront one of the defining questions of our time: who controls our digital future?

As part of Berlin Blockchain Week, Web3 Summit 2026 will put Web3 values into practice through talks, workshops, activations and open collaboration, with an evolving line-up built around openness, participation and experimentation. That same focus on Web3 values extends to the event’s ticketing: tickets with crypto payment are now available through a newly built ticketing app powered by the Polkadot blockchain.

Programme details and tickets are available at the event website.

Godrej Enterprises Group records 19 percentage rise in biodiversity index at Vikhroli campus

India,  May 20  : On International Day of Biodiversity, Godrej Enterprises Group reaffirmed its commitment to biodiversity conservation across its operations and communities, guided by its Good & Green vision and science-led sustainability approach. Biodiversity conservation is encapsulated within the company’s broader sustainability agenda, which focuses on resource efficiency, climate action and responsible sourcing. It is also embedded in its environmental strategy, alongside goals such as zero waste to landfill, water positivity and net-zero buildings. At the heart of Godrej’s conservation initiatives, remains protection of the mangrove ecosystems at Vikhroli in Mumbai through a 3-pronged approach of Research, Conservation, and Awareness. This critical Mangrove ecosystem along with the industrial and residential township hosts over 1,500 species across plants, birds, animals, amphibians, reptiles and aquatic fauna.

“The International Day of Biodiversity is an apt occasion to reinforce our commitment to integrating biodiversity conservation into business practices through measurable, science-led and outcome-oriented initiatives. We believe that protecting ecosystems is not separate from business growth, but essential to building long-term resilience, operational efficiency and sustainable value creation. As industries evolve, businesses that invest in nature-positive practices will be better positioned to drive responsible growth, strengthen stakeholder trust and future-proof operations,” said Tejashree Joshi, Head of Environmental Sustainability, Godrej Enterprises Group.

Decades long continuous scientific efforts have resulted in improving the biodiversity index of Godrej’s Vikhroli campus, by 19% in FY 2024-25. This critical mangrove habitat provides various ecosystem services including Carbon sequestration.

The Vikhroli mangroves currently holds over 23lakhs tCOe of sequestered carbon significantly contributing to mitigating the impacts of climate change for the city of Mumbai The awareness initiatives around mangroves reached nearly 1,20,000 beneficiaries over last three years, through various Mangrove Awareness programme, including Magical Mangroves in collaboration with WWF-India, underscoring the Group’s effort to combine on-ground action with public engagement. Its involvement and support to the India Business & Biodiversity Initiative  aligns its operations with global biodiversity goals and integrates nature-positive practices across its value chain.

Further strengthening its efforts, Godrej Enterprises Group supports collaborative initiatives such as the India Wetlands Coalition aimed at corporate participation in conserving critical wetlands ecosystems and addressing nature loss beyond the campus and statute, and the Mangroves Coalition that aims to support stakeholders like government, citizens, and local communities to better protect, manage, and coexist with their city’s mangroves

RAK Central Square hits major milestone as demand grows for Grade A office space in Ras Al Khaimah

Significant structural works completed with construction progressing on target for Q4 2027 opening

Ras Al Khaimah, May 20: Major structural works have been completed at Ras Al Khaimah’s first luxury Grade A office complex, RAK Central Square, with construction progressing in line with the delivery programme. The development will deliver 2.27 million sq ft of high-quality workspace across five buildings, providing modern, flexible floors designed for tier-one businesses.

Superstructure works remain on schedule and are expected to top out (reach full structural height) in Q4 2026, marking a key milestone toward the planned Q4 2027 opening. This construction progress aligns with rising demand for premium Grade A office space in Ras Al Khaimah among regional and international businesses.

RAK Central Square will bring a new generation of Grade A office space to Ras Al Khaimah, featuring large, efficient floorplates of around 16,000 sq ft, modern building systems and high-specification workspace for international companies. The five-building development is designed to meet tier-one occupier requirements, supported by F&B and retail offerings, and a LEED Gold certified design.

Arch Abdulla Al Abdouli, Group CEO of Marjan, said: “RAK Central Square embodies our vision for a new generation of high-quality, Grade A office space in Ras Al Khaimah. It will sit at the heart of RAK Central, a community that integrates regional and international corporates, lifestyle and hospitality to create a future-ready centre. As we deliver this landmark project, we are laying the groundwork for a city that competes on a global stage, attracts world-class companies, enhances livability and supports the emirate’s long-term growth ambitions.”

As part of the wider RAK Central masterplan, the complex is being developed as a mixed-use destination combining Grade A offices with residential, hospitality and retail components in a connected, walkable environment. This growth is supported by new hospitality and residential developments that expand accommodation and amenity capacity for corporate tenants and visiting delegations. Recent announcements include the Radisson Blu Hotel and Radisson Blu Residences by BNW Developments, alongside projects such as One RAK Central by Pantheon Development, Colibri Views by Major Development and Juna by Dara Development.

Ramy Jallad, Group CEO of Ras Al Khaimah Economic Zone (RAKEZ), said: “RAK Central Square is a critical step in addressing the growing demand for prime office space in Ras Al Khaimah. As investor activity accelerates and more regional and international companies look to establish a presence in the emirate, developments like this will play a central role in supporting business growth and strengthening Ras Al Khaimah’s position as a competitive investment destination. This momentum comes as the emirate continues to attract significant investment across tourism, hospitality, and industry, driving increased demand for premium commercial infrastructure.”

 RAK Central offers direct access to key destinations across the emirate, including Al Hamra Golf Course, Al Hamra Mall, The Ritz-Carlton Al Hamra Beach and Wynn Al Marjan Island. The complex is also well connected to regional and international gateways such as Ras Al Khaimah International Airport and Dubai International Airport, aligning with the emirate’s broader economic and tourism ambitions, including its target of attracting 3.5 million visitors annually by 2030.