CBRE backs 2027 opening for Wynn Al Marjan Island
The brokerage says Wynn’s UAE casino project continues to progress, with domestic tourism reinforcing the long-term outlook for Ras Al Khaimah.
UAE.- Regional instability in the Middle East has clouded the opening timeline for Wynn Resorts’ UAE casino project, but CBRE Equity Research believes the US$5.1bn development can still begin operations in the second half of 2027.
In a research note published on Wednesday, July 29, the brokerage said continued uncertainty surrounding the conflict involving Iran means Wynn management may not yet be able to provide a firm opening timeline. However, it believes a mid- to late-2027 debut remains achievable after the company previously indicated a modest delay from its original target.
The integrated resort is being developed on Al Marjan Island in Ras Al Khaimah in partnership with local investors, with Wynn Resorts holding a 40 per cent stake in the project.
CBRE’s outlook follows new tourism figures from the Ras Al Khaimah Tourism Development Authority showing the emirate welcomed more than 670,000 visitors during the first half of 2026, the highest six-month total on record.
Domestic tourism was the main driver of growth, with local visitor numbers increasing 47 per cent year-on-year. May was the busiest month in the emirate’s history, supported by the extended Eid Al Adha holiday, while hotel room rates remained broadly unchanged from a year earlier.
According to the brokerage, the visitor figures strengthen the long-term investment case for the project by showing that Ras Al Khaimah has a growing domestic tourism market that could support the resort alongside international demand.
While international arrivals improved after earlier travel advisories were lifted, particularly from India, Russia and the UK, CBRE said overseas demand has softened again following the reintroduction of travel advisories.
The brokerage also noted that Wynn’s funding commitment to the project is nearing completion. As of the end of the first quarter of 2026, the company had invested more than US$1bn, with an estimated US$350m to US$450m in remaining capital expenditure still to be deployed.
Construction continues to advance alongside other developments on Al Marjan Island, including the recently announced Janu Al Marjan Island luxury resort, which is expected to open in early 2029 next to Wynn’s integrated resort.
