Wynn Al Marjan Island is on track for a Q1 2027 opening. That timeline was confirmed in Wynn Resorts' November 2024 construction update and reconfirmed by the CEO of Marjan (the master developer) in September 2025.
The basics
- Investment: USD 5.1 billion all-in budget. By late 2024, around USD 3.4 billion (66.7%) had been spent or fully contracted.
- Location: Al Marjan Island, Ras Al Khaimah — approximately 50 minutes from Dubai International Airport.
- Scale: 1,542 hotel rooms. As of November 2024, the structure was complete to the 26th floor and growing at roughly one floor per week. By February 2025, over 80% of rooms were internally completed.
- Licence: On 5 October 2024, Wynn received the UAE's first Commercial Gaming Facility Operator Licence from the General Commercial Gaming Regulatory Authority (GCGRA) — the first time a UAE federal authority issued a commercial gaming licence.
The property market impact
The Wynn catalyst has fundamentally re-rated RAK real estate:
- Average RAK apartment price: AED 2,838/sqft (AGBI, November 2025).
- Al Marjan Island specifically: AED 3,073/sqft — now above Downtown Dubai (AED 2,800–3,000/sqft).
- Price growth since 2023: ~40%.
- RAK residential capital values: +12.7% in 2025.
- Off-plan share of Q4 2025 transactions: 88%.
- Total 2025 RAK market value: AED 15.08 billion.
For context, early 2023 Al Marjan entry prices were AED 1,200–1,600/sqft. Early entrants have nearly doubled their money on paper.
Key projects on and near Al Marjan
- Nikki Beach Residences (Aldar) — sold out, from AED 5.9M, delivery Q4 2028.
- Rosso Bay Residences (Aldar) — active beachfront.
- Address Residences Al Marjan Island (Emaar) — branded hotel residences.
- Ellington Views I & II (Al Hamra Village) — sold out, from AED 855K, Q1 2027.
- Sobha Siniya Island — in neighbouring Umm Al Quwain; large luxury private island development, partnership with UAQ Properties.
The investor view
The easy-entry window has largely closed. Pre-opening pricing has already absorbed most of the casino catalyst. The next leg, if it materialises, comes from post-opening operating performance — visitor numbers, hotel ADRs, and demonstrated regional gaming demand. For income-oriented buyers, well-managed serviced apartments on Al Marjan still offer 7–9% gross yields ahead of opening.
For a current view on RAK allocations, reach out.