The largest hospitality deal in the history of the United Arab Emirates has been made when Wynn Resorts has obtained a historic $2.4 billion construction facility to finance Wynn Al Marjan Island. This facility will aid in the construction of Ras Al Khaimah’s first integrated resort in the nation.
Key Financial Details and Progress
The loan gives the joint venture partners flexibility because it is set up as a delayed draw facility. It has been made available to Wynn Al Marjan Island FZ-LLC, a subsidiary of the 40%-owned joint venture, with a seven-year term and competitive interest rates. With 64% of the structural concrete for the resort’s main tower and elevator cores already finished, construction is moving quite quickly. In order to have a topping-off ceremony by December 2025, the construction crew plans to finish one story every day.
Scheduled to open in 2027, Wynn Al Marjan Island will offer 1,542 rooms, including 1,226 rooms in the tower. The resort’s design and construction are being overseen by Wynn Design and Development, in partnership with Marjan and RAK Hospitality Holding. Situated just 50 minutes from Dubai International Airport, the integrated resort will be a luxury destination on the shores of Ras Al Khaimah.
“We are thrilled to be part of this groundbreaking project, which will set new standards for luxury and hospitality in the UAE,” said a Wynn spokesperson. This development further strengthens Wynn Resorts’ position in the global hospitality market.
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