Construction on Ras Al Khaimah’s $3.8 billion Wynn Al Marjan Island resort is moving quickly, with more than 80% of its 1,542 rooms now complete. The luxury project, which includes suites, villas, a spa, two dozen restaurants, an event center, and a theater, is on track for its anticipated 2027 opening.

The resort secured a $2.4 billion loan to help fund its development. Wynn Resorts, the operator behind the project, announced that this is the largest hospitality-related financing deal ever in the UAE. The loan involves several major local banks, including First Abu Dhabi Bank, Emirates NBD Capital Limited, Abu Dhabi Commercial Bank, and the National Bank of Ras Al Khaimah, alongside international lenders.

Wynn Al Marjan Island received its gaming license in October 2024 from the UAE’s General Commercial Gaming Regulatory Authority (GCGRA). This makes it the UAE’s first commercial gaming facility, a significant milestone as gambling remains prohibited across much of the Gulf region. The GCGRA oversees activities like lotteries, internet gaming, and land-based gaming resorts.

Construction progress is steady, with the structural phase of the resort tower expected to finish by December. Wynn Resorts shared that one floor is being completed each week, and the building has grown about 140 feet in the last 100 days.

This project follows the GCGRA’s earlier issuance of a license for the UAE’s first national lottery, the Lucky Day Lottery, which held its debut draw in December 2024.

The Wynn Al Marjan Island resort marks a significant step in diversifying Ras Al Khaimah’s tourism and entertainment offerings.