Wynn Al Marjan Island: Ras Al Khaimah’s New Luxury Haven with $8.8 Billion Backing
In the heart of Ras Al Khaimah (RAK), the UAE is witnessing the rapid rise of one of the region’s most ambitious hospitality projects. Wynn Al Marjan Island, a luxury resort that promises to reshape RAK’s tourism and entertainment landscape, is making headlines with its impressive progress. Recently, the development secured a staggering Dh8.8 billion ($2.4 billion) financing deal and, in just 100 days, its tower has risen an astonishing 140 feet. These milestones reflect not just the scale of the project but also the immense confidence investors have in its potential.
Securing Unprecedented Financing
The Wynn Al Marjan Island project has made a powerful statement with its financing deal. With the completion of a Dh8.8 billion loan, the project has set a new record in the UAE’s hospitality sector. This is the largest hospitality loan ever secured in the country, highlighting the magnitude of this development and the trust placed in its future success.
The loan comes from a global consortium of banks, including major regional players like Abu Dhabi Commercial Bank PJSC and Deutsche Bank AG, who are confident in the growth of Ras Al Khaimah and the appeal of Wynn Resorts’ brand. The terms of the loan reflect the massive scale of the resort, which will include 1,542 rooms, dining options, entertainment venues, and even gaming facilities, making it one of the most significant additions to the UAE’s tourism sector in recent years.
Rapid Construction Progress
Not only has the financing been secured, but the construction of Wynn Al Marjan Island is also moving forward at an impressive pace. In just over three months, the main resort tower has risen by 140 feet. The developers have been adding one floor per week, demonstrating a level of efficiency that keeps this major project on track for its planned 2027 completion.
As of now, the resort’s structural concrete work is 64% complete, and the elevator cores have reached the 36th floor. These milestones show that the resort is not just a distant dream but a reality coming to life. For the community in RAK and the wider UAE, the rising tower symbolizes the region’s growing importance as a global destination for luxury tourism.
What does Wynn Al Marjan Island Will Offer?
So, what makes this resort stand out? For starters, it’s sheer size and scale. The development will feature not just luxury accommodations but a world of entertainment and leisure options. It will include 22 dining venues, an expansive shopping promenade, a massive spa, and a dedicated theatre, to name just a few amenities. There will be multiple swimming pools, lounges, and a beach club that promises to offer visitors an exclusive escape from the Arabian Gulf.
One of the most exciting aspects of Wynn Al Marjan Island is its focus on luxury and innovation. The resort is designed to appeal to both regional and international visitors and cater to a wide range of tastes. Whether you’re after an extravagant night out at a nightclub, a peaceful spa retreat, or simply a luxurious stay, Wynn Al Marjan Island promises to have something for everyone. Additionally, for those interested in properties for sale in Dubai, the development offers a unique opportunity to invest in a world-class destination that combines opulence, cutting-edge design, and unparalleled amenities, making it a prime choice for luxury real estate enthusiasts..
Breaking New Ground: Gaming License Secured
Perhaps the most groundbreaking development for this project is its recent regulatory milestone. In October 2024, Wynn Resorts received a Commercial Gaming Facility Operator license from the UAE’s General Commercial Gaming Regulatory Authority (GCGRA). This is a significant achievement as Wynn Al Marjan Island will be the first resort in the UAE to feature a gaming facility, adding a whole new dimension to the country’s tourism offerings.
This license will allow the resort to offer a variety of gaming options, which is expected to attract not only leisure travellers but also high-rollers from around the world. By introducing gaming into its portfolio, Wynn is bringing a new type of entertainment to the UAE, marking a major shift in the region’s approach to luxury tourism.
Economic Impact on Ras Al Khaimah and the UAE
Wynn Al Marjan Island is more than just a luxury resort—it’s a potential game-changer for Ras Al Khaimah’s economy. The project is expected to generate thousands of jobs in construction, hospitality, and entertainment, providing significant employment opportunities for both locals and expatriates.
Beyond employment, the resort is set to drive tourism growth. With its combination of high-end accommodations, entertainment, dining, and now gaming, Wynn Al Marjan Island will serve as a magnet for visitors from around the UAE and the world. As international tourism continues to recover and expand, RAK is poised to see an influx of travellers, contributing to the UAE’s overall goal of becoming a global tourism hub. For real estate agents in Dubai, this presents a significant opportunity to capitalize on the growing demand for luxury properties and investments in Ras Al Khaimah, as the region becomes an increasingly attractive destination for both tourists and investors alike.
Additionally, the resort will likely stimulate further investments in the region, attracting new businesses and collaborations with local companies. The growing interest in Ras Al Khaimah, fueled by projects like Wynn Al Marjan Island, will elevate the emirate’s profile on the world stage, making it a key player in the UAE’s ambitious economic diversification plans.
With the Dh8.8 billion financing secured, the building rapidly rising, and a gaming license in hand, Wynn Al Marjan Island is poised to become one of the UAE’s most iconic resort projects is a testament to the UAE’s ongoing development and ability to attract world-class projects that enhance its tourism infrastructure and introduce new forms of entertainment and luxury.
As construction continues and the resort nears its completion in 2027, it will undoubtedly become a major contributor to Ras Al Khaimah’s economy, a symbol of the UAE’s forward-thinking approach to tourism, and a key destination for travellers seeking the best in luxury, innovation, and entertainment.
Conclusion
Wynn Al Marjan Island is more than just a resort—it’s a milestone in Ras Al Khaimah’s journey toward becoming a world-class tourism destination. With the impressive financing deal and rapid construction progress, the project is shaping up to be a transformative force for the region’s economy. As the UAE continues to position itself as a hub for luxury, entertainment, and hospitality, Wynn Al Marjan Island will undoubtedly be at the forefront of this evolution, offering something truly unique to the world.
