Wynn Resorts Casino: The Worlds Largest Casino to Launch in Ras Al Khaimah - Imperial Citizenship
Destined to be the largest casino in the world, the 18,500sq m gaming arena is merely a part of Wynn Resorts’ luxury offering. The resort is planned to house 1,500 rooms on the picturesque Al Marjan Island. This ambitious project is already fueling a property boom in Ras Al Khaimah.
Leading hospitality brands such as Intercontinental Hotels Group, Movenpick, and Radisson have made their foray into the market, resulting in a staggering 17.5% annual growth rate in hotel supply. This showcases Ras Al Khaimah’s emerging prominence as a tourist attraction.
A Catalyst for Economic Growth With the Wynn Resorts Casino project underway, investor interest is buzzing. Off-plan property deals are making waves in the market, influencing secondary market prices, especially in prime projects like Mina Al Arab and Al Hamra.
The UAE’s vision is clear: attract over 5 million tourists to Ras Al Khaimah by 2030 through this monumental venture. Regulatory Boost to Inspire Confidence To fortify this new direction, the UAE recently established a Gambling Regulator. This regulatory body aims to bolster investor confidence by allowing commercial gaming operations across the nation.
The establishment of the UAE’s first legal casino isn’t just an entertainment initiative; it’s a strategic move to propel the country’s economic progress. By positioning itself as a hub in the Gaming Industry, the UAE continues its tradition of setting benchmarks.
Chinese Investors: Betting Big on UAE’s Property Market The upcoming casino launch is creating a palpable excitement among Chinese investors. Their activity in the UAE Property Market has seen a whopping 130% surge. A known fact is that Chinese investors have a penchant for casino and gaming destinations. With the UAE unveiling its first legal casino, the interest of Chinese investors in Dubai’s real estate market has skyrocketed. A majority, 78% to be exact, prefer cash transactions and show a preference for spacious residential units.
Conclusion Ras Al Khaimah is positioning itself as the new focal point of tourism in the UAE. The blend of the traditional with the modern, backed by grand projects like the Wynn Resorts Casino, paints a promising picture for the future of the emirate and the UAE as a whole.
