Construction progress of Wynn Al Marjan resort as of February 2025. SUPPLIED

Construction of the Wynn Al Marjan resort in Ras Al Khaimah is advancing at a rapid pace, with one floor being added each week. In just 100 days, the resort tower has grown approximately 140 feet, according to Wynn Resorts. The resort is scheduled to open to the public as early as 2027. Wynn Al Marjan, a $3.9 billion project, will be the UAE’s first gaming resort and the first integrated resort in the region. It is a joint venture between Wynn Resorts, Marjan, and RAK Hospitality Holding. The US firm owns a 40 percent stake in the project. Upon completion, Wynn Al Marjan Island will feature 1,542 rooms and suites, 22 restaurants and lounges, a nightclub and beach club, a shopping promenade, and a signature Wynn spa. The resort will also house an extensive 39,000 sqft poolscape and a 145,000 sqft meetings and events center. The property, highly anticipated for its gaming amenities, will feature “rich non-gaming amenities” as well, said its chief executive Todd Lenahan. “We hope this becomes a new landmark, a new beacon, for travellers to Ras Al Khaimah from across the globe.. It is safe to say no single design and architecture team has had a greater impact on the creation of gaming resorts globally than Wynn Design and Development,” Lenahan said. As of now, 64 percent of the concrete structure has been completed, reaching the 34th floor of the main resort tower. The elevator cores extend to the 36th floor, and 1,226 guest rooms—80 percent of the total—are already constructed. The exterior façade window glazing is also progressing, with over 2,840 panels installed out of the 13,734 required. The company has now secured financing for the development with a $2.4 billion (Dh8.8 billion) loan from a global syndicate of banks. Abu Dhabi Commercial Bank and Deutsche Bank acted as joint coordinators of the financing. First Abu Dhabi Bank, Emirates NBD Capital Limited, and The National Bank of Ras Al Khaimah also played a key role in structuring the deal. This transaction marks the largest hospitality financing deal in UAE history. The seven-year loan is structured as a delayed draw facility, providing significant financial flexibility to the joint venture partners. The secured term loan facility is denominated in a combination of UAE dirham and US dollar currencies, reflecting the anticipated expenditure distribution. ICA/Expat Media
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