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Contractors submit Wynn resort Ras al-Khaimah bids

20 January 2023

Contractors have submitted initial bids for the contract to build the integrated resort at Al-Marjan Island in Ras al-Khaimah planned by the local Rak Hospitality Holding and US-based casino and hotel operator Wynn Resorts.

The resort is expected to be one of the first to benefit from anticipated changes to legislation in the UAE covering gaming. 

It is understood that at least two contracting groups have submitted offers for the estimated $2.5bn project. They are Dubai-based Alec and Lebanon's Consolidated Contractors Company (CCC).

The project is being fast-tracked by the development team and much of the tender is provisional sums pending the completion of design work.

The project involves the construction of a 1,000-key luxury hotel, retail and convention areas and gaming facilities. It covers an area of 250,000 square metres (sq m) and is expected to open in 2026.

US firm HKS Architects is the design consultant. The project manager is UK-based Mace.

READ MORE: RAK property sector enjoys robust growth

The project’s launch in January 2022 coincided with Ras al-Khaimah Tourism Development Authority’s (RakTDA) announcement about establishing a division to centralise regulations for integrated resorts.

The newly formed department of entertainment and gaming regulation will set the framework for licensing, taxation, operational procedures and consumer safeguards in the city, prioritising the creation of measures to ensure responsible gaming.

Its rules will reportedly cover hotel operations, convention spaces, entertainment, restaurants and lounges, spas and retail and gaming facilities in integrated resorts.

The Wynn project’s developers will apply for RakTDA’s integrated resort licence for the scheme.

Further development

Other projects are moving ahead in Ras al-Khaimah. In October last year, Beijing-based China State Construction Engineering Corporation was awarded the construction contract for the Rove hotel project, which is also on Marjan Island.

The 441-room hotel is expected to open by the end of 2024 and has been designed as a lifestyle beach resort. 

READ MORE: Ras al-Khaimah real estate counters growing pains

Two developers announced plans to build hotels on Al-Marjan Island in December last year. Abu Dhabi National Hotels said it plans to construct a 1,000-room luxury resort on Al-Marjan Island with a total investment of $272m (AED1bn).

Dubai Investments also said that it plans to build a hotel known as Danah Bay, which will require AED1bn of investment.  Covering an area of about 90,000 sq m, the project includes luxury townhouses and villas, residential waterfront apartments, a four-star hotel resort and community retail.

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Colin Foreman

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