“It is 100 per cent on the principal capital amount. When they pay the 10 per cent at pre-launch and then sell the unit back at launch, they may make 100 per cent on the 10 per cent deposit amount paid,” Asad Khan, CEO of Invest Dubai Real Estate (IDRE), told Arabian Business.
The ambitious Wynn Al Marjan Island project, a $3.9 billion (AED 12.4 billion) development set to open in 2027, has sparked intense interest among investors, with some property brokers promising returns of over 100 per cent on pre-launch investments.
“While a 100 per cent ROI certainly grabs attention, true investment success comes from informed decisions,” said Maxim Novikov, Head of RAK branch at Metropolitan Premium Properties. “RAK has already approved gaming and Wynn has secured its license, which signals progress for the casino development.”
Lewis Allsopp, Chairman at Allsopp & Allsopp, confirmed strong potential in the market, adding that the upcoming Wynn hotel was a “major catalyst” that is set to significantly drive population growth in the northern emirate.
According to brokers marketing the properties, pre-launch investors placing a 10 per cent deposit on units can potentially double their initial capital when prices increase at the official launch in April. A one-bedroom apartment currently offered at $532.35 per square foot (AED 1,950) is expected to be listed at $600.59 per square foot (AED 2,220) after launch.
Construction on the Wynn Resorts’ integrated resort began in early 2023 and will include 1,542 rooms and suites, 22 private villa estates, a 15,000 square metre shopping esplanade, a five-star spa and a 7,500 square metre meetings and event centre.
Casino license triggers property boom
The introduction of the region’s first licensed casino is a significant milestone for the UAE, which has traditionally taken a conservative stance on gaming. The development is expected to open to the public in early 2027.
Nishant Deshmukh, Founder and Managing Partner of Sugee Group, believes the timing is optimal for investment. “RAK is evolving into a prime investment destination, backed by strong government initiatives, luxury tourism, and infrastructure growth,” he told Arabian Business.
Several factors are driving exceptional returns in Ras Al Khaimah, including government commitment to enhancing infrastructure, introduction of long-term residency visas, and attractive incentives for foreign investors, according to property experts.
Real estate experts see strong potential for long-term appreciation, with some drawing parallels to Dubai’s Palm Jumeirah.
“There’s good reason to compare Ras Al Khaimah’s potential to the early days of Palm Jumeirah,” said Lewis Allsopp, Chairman at Allsopp & Allsopp. “RAK isn’t starting from scratch and benefits from established infrastructure – roads, hospitals, schools – and excellent connectivity, being just 45 minutes from Dubai International Airport.”
Allsopp noted that RAK’s tourism is expected to reach 3.5 million visitors annually by 2030, with a projected tripling of the workforce, creating a supply-demand imbalance that could benefit property investors.
“We anticipate studio, one-bedroom, and two-bedroom units will yield the highest returns. These property types will be highly sought after by both tourists seeking holiday rentals and the growing workforce needing long-term accommodation,” he added.
Property deals surge 118%
Transaction volumes in Ras Al Khaimah have already surged, according to Novikov.
“The emirate’s real estate market is experiencing unprecedented growth, with total transactions reaching AED 15.08 billion in 2024, a remarkable 118 per cent increase from 2023,” Novikov said.
While some analysts have questioned whether projected returns are overly optimistic given the regulatory uncertainties around gambling in the region, Novikov noted that “RAK has already approved gaming and Wynn has secured its license, which signals progress for the casino development.”
He cautioned that while the potential for returns is promising, “investors should be cautious and focus on the long-term outlook rather than chasing short-term gains.”
Developers dismiss oversupply fears
With approximately 20 residential developments planned for the island, including about 900 units managed by IDRE alone, concerns about potential oversupply have emerged.
However, Novikov downplayed these worries. “Forecasts indicate that by the time Wynn Al Marjan Island is fully operational, the region could face a shortfall of up to 5,000 hotel and residential units per year.”
Sugee Group founder Nishant Deshmukh, who plans to launch the company’s first RAK project within 60 days and aims to develop 15 million square feet with 10,000 units across the UAE over the next three years, said that while “short-term fluctuations are possible, demand will likely outpace supply.”
He described RAK as “evolving into a prime investment destination, backed by strong government initiatives, luxury tourism, and infrastructure growth.”
Global comparisons
When asked about comparisons to established casino markets like Macau and Singapore, Khan acknowledged differences but noted that “properties located near major casino resorts have historically experienced strong price appreciation.”
While the “casino premium” on property values in Ras Al Khaimah is expected to be lower initially than in markets like Las Vegas, Khan believes it “will grow as the destination establishes itself as a hub for gaming tourism.”
Beyond gaming, Ras Al Khaimah is developing multiple demand drivers, according to the experts.
“The emirate’s growing tourism industry, with attractions like Al Marjan Island and the upcoming Wynn Al Marjan Island resort, has bolstered demand for luxury accommodations and residential properties,” Khan said.