Wynn Al Marjan Island, the multi-billion-dollar integrated resort currently under development on the coast of Ras Al Khaimah, has officially adjusted its opening date to September 2027. The delay comes as the project faces ongoing challenges stemming from regional conflicts, which have disrupted global supply chains and affected shipping insurance markets.
Craig Billings, CEO of Wynn Resorts, confirmed the new timeline during the company’s second-quarter earnings call. Despite the shift, he noted that construction is moving forward at a rapid pace, with interior work on hotel rooms now underway as mechanical, electrical, and finishing trades proceed in sequence.
Addressing the logistical hurdles, Billings explained that the project team has had to resource, reroute, or expedite various materials and equipment to maintain the construction timeline. Furthermore, the company encountered disruptions related to the movement of consultants and staff, alongside other non-recurring issues that influenced both the project’s schedule and overall expenditure.
To account for these developments, Wynn Resorts is increasing the total project budget by approximately $600 million, or Dh2.2 billion. Billings clarified that about half of this additional cost is directly linked to regional conflict disruptions, which include rising material and shipping expenses, as well as capitalized interest and pre-opening costs resulting from the extended construction duration.
The remaining portion of the budget increase is attributed to standard project management factors. According to Billings, this covers remeasurement, trade coordination, and other typical expenses expected during a development of this scale and duration, which are independent of regional instability.
Despite these setbacks, the company remains optimistic about the UAE market. Billings, who visited the site in June, noted that he observed healthy day-to-day activity in Dubai and full flights during his travel. He reaffirmed the company’s commitment to the project, describing it as the most significant integrated resort development globally in over a decade.
Wynn Resorts maintains a 40 percent stake in the joint venture responsible for the resort. During the most recent period, the U.S.-based operator contributed $48.1 million (Dh176.5 million) in cash to the venture, bringing its total life-to-date cash investment to $1.06 billion.
Wynn Resorts, alongside our partners in Ras Al Khaimah, are now pleased to announce that Wynn Al Marjan Island, the most exciting integrated resort to be developed in over a decade, will open its doors to guests in Septe
On timing, we now expect the project to open its doors to the public in September 2027,” he added.
Wynn Resorts holds a 40 per cent stake in the joint venture building the project.
Stay up to date with the latest news.
“In addition to construction, pre-opening hiring, and operations planning are advancing very well.
This has required certain materials and equipment to be resourced, rerouted, or expedited to ensure the project’s construction timeline,” he said.
Despite the setbacks, Billings struck an upbeat tone about the UAE market, pointing to a June visit to check on progress in person.
Waheed Abbas is Assistant Editor, covering real estate, aviation and other business stories that directly affect the lives of UAE consumers.
Source: Khaleej Times
