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Impact of Al Marjan Island on Ras Al Khaimah in 2024

Al Marjan Island

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Is Ras Al Khaimah a hotspot and going to be a real estate fame in the whole UAE real estate sector? Is Ras al Khaimah turning out to be a favorite destination for investors to invest?

But what makes Ras al Khaimah so in demand? In search of an answer to these questions, all fingers will point to Ras Al Khaimah’s latest sensation – Al Marjan Islands. As the Wynn casino holds a perfect place in the center of Al Marjan Island, the whole development of Ras Al Khaimah has started to experience great demand. So, to grab more insights into what is exciting in the surroundings of Ras Al Khaimah and in the neighborhood of Al Marjan Island, please continue reading.

Al Marjan Island

Overview of Ras Al Khaimah Real Estate

Being the fourth largest among the seven emirates, Ras Al Khaimah spreads its boundaries across 1684 square kilometers by comprising 2.2% of the UAE’s total land mass. Contributing 11% of global GDP and granting access to 31% of the world’s population within a 4-hour radius, Ras Al Khaimah holds a great location at the tip of UAE. The proximity to major population centers, with 76% reachable within 8 hours, represents 53% of the global GDP. The modern Ras Al Khaimah airport, boasting a 3,760-meter runway, connects to global destinations, while developed seaports and marinas establish it as a nautical hub. Just a quick 25-minute drive from RAK International Airport, 45 mins from Sharjah International Airport, and 60 mins from Dubai International Airport and highways linking to other Emirates, accessibility is unparalleled. Additionally, the upcoming Etihad Rail project will enhance connectivity, spanning 1,200 kilometers and linking the UAE with neighboring countries by 2024.

In Demand Areas of Ras Al Khaimah

Turning as a hotspot among the real estate sectors of other UAE emirates, Ras Al Khaimah holds 3 major islands such as Al Hamrah, Mina Al Arab, and the important value driving island Al Marjan Island. Al Marjan Island has already made its mark by hosting the largest fireworks display that has literally secured a Guinness Book of World Record. But this island is more than just a destination to invest, but a destination that has all the power to put RAS real estate on the global map, just like the impact Palm Jumeirah had on Dubai real estate.

Islands within Al Marjan Island

This remarkable cluster of four interconnected coral-shaped islands—Breeze, Treasure, Views, and Dream—extends 4.5 kilometers into the Arabian Gulf and encompasses a land mass of 2.7 square kilometers. With 7.8 kilometers of pristine beaches and 23 kilometers of waterfront, these islands promise a captivating coastal experience.

Impressive Hospitality Brands in the islands

Among the impressive developments planned for these islands are renowned hospitality brands like Address, Nikki Beach, Nobu, and Movenpick. With over 8,000 hotel rooms, 12,000 residential units, and 600 holiday villas, these branded developments aim to create Ras Al Khaimah a world-class destination in the shadow of Al Marjan Island. The master plan for Al Marjan Island offers both residential and recreational options such as apartments, hotels, resorts, and a wide variety of retail and leisure options.

Developments in Al Marjan Islands

The development of Al Marjan Island encompasses several distinct zones, each with its own unique offerings and attractions. The Breeze Island stands out as the more established part of the island, boasting prestigious properties like Rixos Bab Al Bahar and DoubleTree by Hilton. Treasure Island, on the other hand, hosts exciting projects such as Moonstone – Missoni and Hilton hotels. View Island features luxurious accommodations like The Address by Emaar and Dana Bay, while Dream Island is set to house the prestigious Wynn Casino. Notable developments on the island include Nobu by H & H, Mar by Aldar, and J W Marriott. Historically, the presence of casinos has illuminated the entire real estate market in the vicinity. The significant investments made by Wynn Casino and Resorts ($4 billion) and Emaar ($2 billion) underscore the confidence of major developers and brands in Al Marjan Island. With its focus on branded hotels and upscale hospitality, Al Marjan Island promises a truly exceptional experience for visitors and residents alike.

Features of UAE’s first Casino in Al Marjan Island

The growth in tourism numbers and the flurry of activity in the real estate market in Ras Al Khaimah all stem from the Wynn Beach Resort & Casino on Dream Island, slated for completion in 2027. This landmark project represents the largest foreign direct hospitality investment in the emirate, totaling $3.9 billion. By offering a beachfront luxury over an expansive plot of 5.6 million square feet, Wynn Casino will be the first fully integrated resort in the region. Beyond that the resort offers 1,500 suites, villas, hotel rooms, and an impressive 120,000 square feet of retail space. As the casino comprises 4% of total space, Wynn Casino will be positioned among the total 10 Casinos globally.

Potential of Wynn Casino at Al Marjan Island

To grasp the transformative impact of the Wynn Resort & Casino, we must reflect on renowned gaming destinations like Macau and the Las Vegas Strip. These cities have undergone remarkable transformations by evolving from modest local areas into global gaming hubs. The casino industry is a sector known for its strong economic influence. With this impact, they have got the power to generate local economies and create significant employment opportunities. Casino plays as a center of entertainment by attracting visitors who are interested in gambling, accommodation, dining and various other amenities. This huge amount of spending generates a ripple effect and will strengthen the local economy. For instance, Macau was a Euro Sino destination in the early stages, but it has experienced a monumental transformation with the introduction and expansion of casinos. By attracting tourists and investors worldwide, today casinos in Macau generate an impressive revenue that stays around $45 billion USD annually.  Similarly, Las Vegas, a dramatic transformation with the advent of casinos. This evolution propelled Las Vegas into a phenomenon replicated across the globe. In 2022 alone, the revenue of the Las Vegas gaming strip reached approximately $8.8 billion, underscoring the immense economic potential of the casino industry.

Notable Projects and Prices

Among the notable investment projects on Al Marjan Island are The Address by Emaar, offering a 600-meter beachfront and an average price of AED 2750 per sq ft, with handover scheduled for February 2028. Nikki Beach Residences by Aldar boasts the finest pool and beach facilities, priced at AED 2000 per sq ft, and is set for handover in 2027. Rosso Bay by Aldar offers the lowest price per square foot at AED 1650, with handover in November 2007. Beach Residences by Range Properties promise stunning sea views from every apartment, priced at AED 2000 per sq ft, and handover is slated for Quarter 1 2027. JW Marriott on View Island offers proximity to the Wynn Casino, with a price per square foot of AED 3000 and completion expected by December 2026. These projects present lucrative investment opportunities in one of the most sought-after destinations in the region.

Conclusion

Being on track, this emirate is going to make tremendous developments and contributions in the sector of Ras Al Khaimah. Ras Al Khaimah is an assured destination to invest, so once you are searching for a property in a peaceful environment but the one that returns a great amount of profit. Al Marjan Island not only provides you the best rewards, but can get to the best waterfront living lifestyle in the calmest part of Ras Al Khaimah. So, hurry up and choose the best property by the best developer that aligns with your expectation.

FAQs

Where is Al Marjan Island?

Al Marjan Island is an island situated in Ras Al Khaimah that gains attention worldwide.

Which are the 3 major islands of Ras AL khaimah?

Al Hamrah
Mina Al Arab
Al Marjan

How many islands does Al Marjan Island have?

Al Marjan Island comprises four interconnected coral-shaped islands such as Breeze, Treasure, Views, and Dream.

Which island of Al Marjan Island is going to be home to the first casino of UAE?

The Wynn Casino is going to be constructed in the dream island of AL Marjan Island.

What are the features of the first ever casino in UAE?

The growth in tourism numbers and the flurry of activity in the real estate market in Ras Al Khaimah all stem from the Wynn Beach Resort & Casino on Dream Island, slated for completion in 2027. This landmark project represents the largest foreign direct hospitality investment in the emirate, totaling $3.9 billion. By offering a beachfront luxury over an expansive plot of 5.6 million square feet, Wynn Casino will be the first fully integrated resort in the region. Beyond that the resort offers 1,500 suites, villas, hotel rooms, and an impressive 120,000 square feet of retail space. As the casino comprises 4% of total space, Wynn Casino will be positioned among the total 10 Casinos globally.

Is Al Marjan Island man-made?

Ras Al Khaimah’s Al Marjan Island is a man made island that is gaining enough fame due to the presence of the first casino in UAE. It is a coral shaped island comprising 4 different islands.

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