Tuesday, 02 January 2024 12:17 GMT

UAE: Marjan Island Visitors Could Double As Wynn Resorts To Transform RAK


(MENAFN- Khaleej Times)

Ras Al Khaimah is on the verge of a tourism revolution. Studies show that the opening of the Wynn integrated resort on Al Marjan Island could more than double the number of visitors to the emirate and position it as a major player in the UAE's hospitality landscape.

According to Tariq Bsharat, Chief Strategy and Business Development Officer at Marjan, the resort is not just another luxury project; it is a“game-changer” designed to transform Ras Al Khaimah's economy and put it on the global tourism map. Speaking at the International Real Estate Investment Summit in Ras Al Khaimah, Bsharat said,“When we looked at destinations like Singapore, Macau, and Las Vegas, the evidence was clear that integrated resorts drive exponential increases in visitor numbers. We expect a similar trajectory for Ras Al Khaimah.”

Recommended For You

The Wynn project, which will feature 1,530 rooms, 22 dining venues, luxury retail, a spa, and entertainment areas, is slated to open in 2027.

Extensive studies by EY, Colliers, and JLL forecast a surge in visitors from 1.3 million today to 3.8 million in 2027, eventually climbing to 5.5 million in the years that follow. Colliers projects that the resort alone could increase UAE-wide visitor arrivals by up to 9 per cent, underscoring its potential national impact.

Bsharat highlighted international examples where integrated resorts transformed tourism economies.“Singapore's Marina Bay Sands drove a nearly 40 per cent spike in visitors in a single year, while Las Vegas and Macau saw double-digit jumps in arrivals following major resort openings,” he said.

The economic ripple effects extend beyond tourism. EY's studies predict that Ras Al Khaimah's population will grow from 400,000 to 600,000 over the next decade, generating demand for 45,000 new residential units and thousands of additional hotel keys. Bsharat explained,“Visitors bring spending, spending drives construction, construction brings jobs, and jobs attract families. It becomes a virtuous cycle of development.”

To support this growth, Marjan is advancing several flagship projects, including RAK Central, a master-planned business and lifestyle hub, and Marjan Beach, a luxury beachfront development combining hotels, residences, and retail.

Investor confidence has surged since the Wynn announcement, with a notable uptick in land transactions and development activity across Al Marjan Island. As the Wynn resort rises floor by floor along the emirate's coastline, it has become the centrepiece of Ras Al Khaimah's long-term vision, one built on data, strategy, and a forecasted decade of sustained growth.

Abdulla Al Abdouli, CEO of Marjan, highlighted Ras Al Khaimah's diverse landscape and investment appeal: "Ras Al Khaimah's varied topography from mountains to coastlines opens the door for multiple types of investment. We are expecting a lot of interest and opportunities from different investors, from luxury to mountain retreats to waterfront developments."

MENAFN30102025000049011007ID1110272670



Khaleej Times

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.

Search