• An exterior rendering of Wynn Al Marjan Island. Photo: Wynn Resorts Ltd
    An exterior rendering of Wynn Al Marjan Island. Photo: Wynn Resorts Ltd
  • The mega resort is expected to open in early 2027. Photo: Wynn Resorts Ltd
    The mega resort is expected to open in early 2027. Photo: Wynn Resorts Ltd
  • The resort is expected to have more than 1,500 rooms, suites and villas. Photo: Wynn Resorts Ltd
    The resort is expected to have more than 1,500 rooms, suites and villas. Photo: Wynn Resorts Ltd
  • An interior rendering of Wynn Al Marjan Island. Photo: Wynn Resorts Ltd
    An interior rendering of Wynn Al Marjan Island. Photo: Wynn Resorts Ltd
  • Wynn Las Vegas, another Wynn property, opened in 2005. AFP
    Wynn Las Vegas, another Wynn property, opened in 2005. AFP

Wynn Al Marjan Island in Ras Al Khaimah unveils first renderings of mega resort


Evelyn Lau
  • English
  • Arabic

New renderings of Wynn Al Marjan Island in Ras Al Khaimah have been unveiled.

The mega resort will have views of the Arabian Gulf. It will also have 1,500 rooms, suites and villas, as well as two dozen restaurants, a spa, an event centre and a theatre. It is expected to open in 2027.

"We have spent the past year meticulously programming and concepting Wynn Al Marjan Island, carefully considering its unique location," said Craig Billings, chief executive of Wynn Resorts.

A rendering of the interiors of Wynn Al Marjan Island. Photo: Wynn Resorts Limited
A rendering of the interiors of Wynn Al Marjan Island. Photo: Wynn Resorts Limited

"I am incredibly proud of our design and development team's ability to impart our legacy of rich, thoughtful design into a sun-soaked beachside resort that will delight customers, new and old. We look forward to opening Wynn Al Marjan Island in early 2027."

The project is estimated to cost about $3.9 billion.

Details of the hotel were first announced in January 2022, with news it would include a “gaming area”, although it did not define what gaming meant. However, Wynn is best known for its casino hotel resorts in Las Vegas, Boston and Macau.

The Ras Al Khaimah Tourism and Development Authority said at the time the “department of entertainment and gaming regulation” will oversee “hotel operations, convention space, entertainment, restaurants and lounges, spa, retail and gaming facilities” in these resorts.

“The department of entertainment and gaming regulation within RAKTDA will consider the social, cultural and environmental landscape of the emirate and cover licensing, taxation, operational procedures and consumer safeguards,” it said at the time.

“The foremost priority of this new division is to create a robust framework that will ensure … the regulatory structure will address the entire gaming enterprise within integrated resorts, requiring compliance with all applicable laws and regulations [including financial crime laws] from operators, suppliers and employees.”

Gambling remains prohibited in the Emirates.

Marjan Island is a development of four reclaimed islands with more than 7.8kms of pristine beaches and 23km of waterfront, in addition to world-class hotels and residential developments.

MATCH INFO

Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid

When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid

J%20Street%20Polling%20Results
%3Cp%3E97%25%20of%20Jewish-Americans%20are%20concerned%20about%20the%20rise%20in%20anti-Semitism%3Cbr%3E%3Cbr%3E76%25%20of%20US%20Jewish%20voters%20believe%20Donald%20Trump%20and%20his%20allies%20in%20the%20Republican%20Party%20are%20responsible%20for%20a%20rise%20in%20anti-Semitism%3Cbr%3E%3Cbr%3E74%25%20of%20American%20Jews%20agreed%20that%20%E2%80%9CTrump%20and%20the%20Maga%20movement%20are%20a%20threat%20to%20Jews%20in%20America%22%3Cbr%3E%3C%2Fp%3E%0A
Classification of skills

A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation. 

A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.

The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000. 

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FIXTURES

December 28
Stan Wawrinka v Pablo Carreno Busta, 5pm
Milos Raonic v Dominic Thiem, no earlier then 7pm

December 29 - semi-finals
Rafael Nadal v Stan Wawrinka / Pablo Carreno Busta, 5pm
Novak Djokovic v Milos Raonic / Dominic Thiem, no earlier then 7pm

December 30
3rd/4th place play-off, 5pm
Final, 7pm

David Haye record

Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

Liverpool 4-1 Shrewsbury

Liverpool
Gordon (34'), Fabinho (44' pen, 90' 3), Firmino (78')

Shrewsbury
Udoh (27'minutes)

Man of the Match: Kaide Gordon (Liverpool)

Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

The specs

Price, base / as tested Dh1,470,000 (est)
Engine 6.9-litre twin-turbo W12
Gearbox eight-speed automatic
Power 626bhp @ 6,000rpm
Torque: 900Nm @ 1,350rpm
Fuel economy, combined 14.0L / 100km

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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Updated: April 27, 2023, 2:06 PM