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Delegation supports the development of a significant resort – the UAE’s first casino initiative – which will be managed under the name of Hong Kong-based Wynn Resorts.

A delegation from Ras Al Khaimah (RAK), one of the seven emirates in the United Arab Emirates (UAE), is reaching out to Hong Kong and mainland Chinese investors for its initial integrated resort, highlighting the city as a crucial entry point to Asia and China.

A three-day high-level visit to Hong Kong this week sought to enhance RAK’s visibility and draw in regional investments.

During the visit, the delegation met with local officials and business leaders to promote the emirate and its notable resort development — the UAE’s first casino initiative — which will be managed under the banner of Hong Kong-based Wynn Resorts.

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“Hong Kong serves as an excellent entry point from the Middle East into Asia and China,” stated Abdulla Al Abdouli, CEO of Marjan, a prominent master developer based in RAK, during an interview with the Post on Tuesday.

Abdouli mentioned that the development features Wynn Al Marjan Island, a prominent integrated resort set to launch in 2027. The project will highlight the emirate’s unique attractions, including its 43km (26 miles) of untouched coastline and Jebel Jais, the highest mountain in the UAE, standing at approximately 1,900 metres (6,233 ft).

“We are interested in expanding the window and including a more diverse set of companies in that [investment in Ras Al Khaimah],” he stated, noting that the delegation aimed for the trip to enhance the emirate’s visibility and draw in additional investors.

The iconic site is set to emerge as the UAE’s initial combined resort.

Meanwhile, as a member of the delegation team, Abdouli also met with family offices in the city to share insights.

As the Hong Kong government initiates the second stage of its family office development plan in the coming years, with the goal of drawing 220 such entities from across the globe, RAK is also working on building its own family office framework to support interactions and mutual relationships.

“We are not competing with Hong Kong, as both areas [Ras Al Khaimah and the city] have geographical diversification,” he stated.

He observed that a select group of financial advisors, legal professionals, and corporate service firms functioning within this worldwide environment frequently have a dual presence in both cities, fostering an ideal setting for cooperation.

When questioned about the rivalry between Hong Kong and Singapore, he mentioned that each location had its own unique advantages.

“Singapore and Hong Kong each possess their own distinct identity; you look to each other for motivation… there is a friendly rivalry and competition between them,” he said.

He mentioned that the scenario was comparable in the UAE, where every emirate could have its own areas of emphasis and draw different types of clients.

In recent years, Hong Kong has proactively spearheaded initiatives to enhance exchanges and collaboration with nations in the Middle East, such as planning the establishment of an Economic and Trade Office in Riyadh, Saudi Arabia.

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This piece was first published in the South China Morning Post (www.scmp.com), a top news outlet covering China and Asia.

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