CRESCO INTELLIGENCE · RAS AL KHAIMAH
The casino opens in September 2027. Much of its effect is already in the price. Here is what could move prices from here.
Short answer: the Wynn Al Marjan Island resort is due to open in September 2027, later than the original early 2027 target. Much of the casino effect is already in the price. Ras Al Khaimah's average price reached about AED 2,200 per square foot in June 2026, nearly four times its July 2021 level and above Dubai's average, but slightly down over the past year. Further gains depend on the opening, tourism and how much new supply arrives.
Wynn Resorts' chief executive told investors on August 4, 2026 that the resort will open in September 2027 and that the budget has risen to about $5.7 billion. It will be the first resort in the UAE with licensed commercial gaming. We cover the timeline and costs in Wynn Al Marjan delayed to September 2027.
| Measure | Figure | Source |
|---|---|---|
| Average price, Ras Al Khaimah, June 2026 | About AED 2,200 per sq ft, down just over 3% in 12 months | Bayut via AGBI |
| Same figure in July 2021 | About a quarter of today's level | Bayut via AGBI |
| Dubai average price, June 2026 | About AED 1,740 per sq ft | Bayut via AGBI |
| Ready apartments, Q1 2026 | Average AED 1,219 per sq ft | Property Monitor via The National |
| Apartment prices, October 2025 to March 2026 | Up almost 5% | Cavendish Maxwell via The National |
The two measures differ because they cover different homes. Either way, the big move came between 2022 and 2025, when the casino was announced and licensed. Buyers today are paying for an opening that is already expected.
Buy on Al Marjan Island because you like the asset at today's price and can hold past the opening, not because the casino will lift everything. The best units will be those with direct beach access and views, delivered close to the opening. Ras Al Khaimah is not covered by the Dubai Land Department register, so the figures here come from third parties rather than our own data. We sell projects on Al Marjan Island, and we would rather you buy with these numbers than without them.
Wynn Resorts expects Wynn Al Marjan Island to open in September 2027, after moving it back from early 2027. The company announced the change on August 4, 2026.
Prices have already risen sharply since the casino was announced. Average prices in Ras Al Khaimah are nearly four times their July 2021 level and were slightly down over the year to June 2026, so further gains depend on the opening and supply.
Ras Al Khaimah's average price was about AED 2,200 per square foot in June 2026, according to Bayut, with Al Marjan Island the most expensive part of the emirate.
It suits buyers who can hold past the 2027 opening and choose beachfront units carefully. Risks include new supply through 2030 and any further delay to the resort.
Sources: Wynn Resorts Q2 2026 earnings call, August 4, 2026, as reported by Khaleej Times and others; Bayut price data, RAK municipality data, Cavendish Maxwell and Fitch via AGBI, July 2026; Property Monitor, Cavendish Maxwell and RAKTDA via The National, August 3, 2026. Ras Al Khaimah transactions are not in the Dubai Land Department register and we have not verified these figures against registered sales. Cresco Real Estate markets projects on Al Marjan Island. Market research, not investment advice.
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