The price of land on the island of Al Marjan in the emirate of Ras Al Khaimah has risen. American developer Wynn Resorts Limited, announced their intention to build a luxury resort on the island by 2026 with a top notch hotel, high-end shopping center and casino. This is a great news for Czech investors. Through PRESTON Capital, they’ve been able to invest in Al Marjan since January.
BRNO / RAS AL KHAIMAH – PRESTON Capital, through its subsidiaries, owns land on the island of Al Marjan, on which the Sun Beach Hotel Resort will be built. Already at the beginning of January, the company issued bonds with an annual yield of 8%. Through this step, they want to secure financing for the construction. Since February, Preston Capital has expanded its range of financial products and started selling apartments.
This was launched at a time when Wynn Resorts Limited and RAK Hospitality Holding issued a joint statement that they were going to build a luxury resort on the island by the year 2026. The billion-dollar construction will cover an area of 250,000 m2 and will include a hotel with more than a thousand rooms, a high-end shopping center, state-of-the-art meeting and congress facilities, an exclusive spa along with a wide range of entertainment facilities, including a casino.
Wynn Resorts, Limited, has extensive experience in this field. The American company is a developer and operator of luxury hotels and casinos in Las Vegas, Boston and Macau in China.
The developer's presence will speed up tourism development
Al Marjan's appeal has risen since this statement, and with it also its land prices. This is a positive news for PRESTON Capital and Czech investors. This strengthens the expectation that the site will continue to expand. The artificial island of Al Marjan was built with the intention of attracting foreign investors and making Ras Al Khaimah a leading emirate in the field of investment and tourism.
The key attraction of Al Marjan is unequivocally as a destination. It is only 15 minutes from Ras Al Khaimah International Airport and 45 minutes from Dubai International Airport. The island has 8 kilometers of beaches and a coastline of 23 kilometers. The emirate of Ras Al Khaimah itself is considered as one of the most beautiful destinations in the UAE with huge potential for top notch hospitality and tourism.
The presence of developer Wynn Resorts, Limited, will support the local economy by accelerating tourism, creating jobs, and supporting the growth of other related sectors. Local authorities have already announced the creation of a new office that will focus on game regulation.