Al Marjan Island and the Wynn effect: what should off-plan buyers know?

Wynn Resorts says Wynn Al Marjan Island is currently expected to open in September 2027 (second-quarter results, 4 August 2026). It is a 40%-owned joint venture with Marjan and RAK Hospitality Holding, holds the UAE's first commercial gaming facility operator licence, issued in October 2024, and is planned with 1,542 rooms and suites.

Off-plan homes on the island are sold under Ras Al Khaimah's rules, not Dubai's: the Real Estate Regulatory Administration (RERA) at RAK Municipality oversees developers and escrow, and the Dubai Land Department's 4% fee doesn't apply. Below are the official facts on the resort, the regulator, the main projects and their published prices, and the risks buyers weigh. We make no predictions.

What has Wynn officially announced about Al Marjan Island?

In its second-quarter 2026 results, released on 4 August 2026, Wynn Resorts says Wynn Al Marjan Island is currently expected to open in September 2027, and that construction is progressing at a rapid pace. Wynn contributed $48.1 million of cash to the 40%-owned joint venture building it during the quarter, bringing its life-to-date contributions to $1.06 billion. Gulf News reported the same day that the project's construction cost had risen by $600 million to about $5.7 billion.

Wynn's October 2024 announcement says the UAE's General Commercial Gaming Regulatory Authority (GCGRA) issued a commercial gaming facility operator licence to the joint venture of Wynn affiliates, Marjan and RAK Hospitality Holding, the first such licence in the UAE. It describes 1,542 rooms and suites including 22 villa estates, 22 dining, lounge and bar venues, a theatre, a 12,000 sqm shopping esplanade, a 7,500 sqm meetings and events centre and a 3.6-hectare pool area.

Wynn's release also lists construction and regulatory risks for the project among its forward-looking statements.

Wynn Resorts newsroom, 4 Aug 2026 and 4 Oct 2024. Construction cost figure: Gulf News, 5 Aug 2026.

Who regulates off-plan sales in Ras Al Khaimah?

The Real Estate Regulatory Administration, known as RERA, which sits within the Ras Al Khaimah Municipality Department's Lands and Properties Sector. RAK Municipality's page says developers must register with RERA-RAK before carrying out development, must register each off-plan project and open an escrow account with a trustee registered with RERA, and need RERA's written permission before advertising units for sale.

Under Decree No. 12 of 2023, as summarised by Trowers & Hamlins, a developer needs an Off Plan Sale Permit before selling, which requires the project to be on the projects register, an escrow account in the project's name with a sub-account for each unit, and RERA-approved reservation forms and sale contracts. Withdrawals need RERA's approval, and the trustee keeps 5% of the construction cost for a year after completion to cover defects.

That framework is being updated. Al Tamimi reported in October 2026 that Law No. 10 of 2026, issued on 21 July 2026, repeals the 2023 law and folds its committee's functions into RAK Municipality and its real estate regulatory department. Ask your lawyer which rules apply to your contract.

RAK Municipality, Real Estate Regulatory Administration page; Trowers & Hamlins, Nov 2023; Al Tamimi, Oct 2026.

What fees do you pay in Ras Al Khaimah?

Not Dubai's. RAK Municipality's published real estate sale service (ZL13), which registers a sale and issues the title deed, lists 2% of the property's market value on the seller and 2% on the buyer, plus AED 200 for the plan and AED 200 for the title deed. For freehold sales it asks for a no-objection letter from the developer. That service covers sales in general; the page doesn't set out a separate off-plan fee.

We didn't find an official RAK page listing the fee for registering an off-plan purchase. Property Finder's February 2025 guide to RAK's off-plan services lists AED 3,000 each for an off-plan sale modification and an off-plan sale transfer, and says off-plan sales are registered through RERA on the RAK e-services portal.

Because fee practice varies between developers, ask for the full list of charges, and who pays each one, in writing before you book, and check it against RAK Municipality's current schedule.

RAK Municipality (Sanad), ZL13 Real Estate Sale Contract service card; Property Finder, Off-plan services in RAK (11 Feb 2025).

What are the main off-plan projects on Al Marjan Island?

Many projects have launched on the island, a large share of them hotel-branded. The table lists four by large or well-known developers, with only what the developer has published or two sources agree on.

Emaar announced Address Al Marjan Island in November 2018, its first hotel and residences project in RAK, with a 249-room hotel and 234 apartments on The Views development (Gulf News); emaar.com lists four units available and doesn't publish a payment plan or handover date. Aldar launched Nikki Beach Residences in November 2023: 800 homes in the full community, 357 in the first phase, one to five bedrooms, between the Rixos Bab Al Bahr and DoubleTree by Hilton resorts. Ellington Properties launched Playa Del Sol in September 2024, describing it as next to the Wynn resort, with studios to four-bed homes and completion scheduled for Q4 2027. Ardee Developments' Fairmont Residences opened for booking on 1 June 2025.

Gulf News, Nov 2018; emaar.com, Address Residences Al Marjan Island; Aldar release via Hospitality Net, 28 Nov 2023; Ellington Properties, 26 Sep 2024; Property Finder project page.

What do prices and payment plans look like?

Published entry prices on the projects above cluster around AED 2.3M–2.5M for the smallest homes. Aldar gave an average price of AED 2.3M for a Nikki Beach one-bedroom at launch in November 2023. Fairmont Residences starts from AED 2,490,000, according to Property Finder's project page, the same figure Arabian Business reported at launch. Ellington and Emaar don't publish prices on the pages we read, and broker figures for Playa Del Sol range from AED 1.7M to AED 3.3M, so we leave them out.

Plans on the island are typically split between construction and handover rather than Emaar's 80/20. Property Finder lists Fairmont Residences at 5% down, 55% during construction and 40% on handover, and Playa Del Sol at 20% down, 40% during construction and 40% on handover; neither developer page we opened confirms the split.

On a AED 2.49M home with 40% due at handover, that is AED 996,000 at completion. Ask the developer for its payment plan sheet and price list for the exact unit; broker listings for the island vary widely and many still quote launch prices.

Aldar release via Hospitality Net, 28 Nov 2023; Property Finder project pages (Fairmont Residences, Playa Del Sol), checked 31 Oct 2026; Arabian Business, Fairmont Residences launch.

How much new supply is planned?

A lot, relative to the size of the market. Cavendish Maxwell's study, reported by Gulf Business in July 2026, projects 25,600 new residential units in Ras Al Khaimah between now and 2030. Marjan, the island's master developer, lists a pipeline of more than 25,650 residential units and more than 8,500 guestrooms across its portfolio, which includes but isn't limited to Al Marjan Island.

On the island itself, Marjan's CEO told Khaleej Times in July 2024 that 12,000 residential units and 15,000 hotel keys were planned, and that the residential land was sold out to developers, with six hotels and more than 3,000 keys already operating.

Several of the projects above are scheduled to complete in 2027 and 2028, around the resort's expected opening. Scheduled dates and actual completions often differ, so for any project check the developer's construction updates and the completion date in your SPA.

Gulf Business, 8 Jul 2026 (Cavendish Maxwell); marjan.ae; Khaleej Times, 16 Jul 2024.

What risks should buyers weigh?

Five are worth setting out neutrally. Timing: Wynn describes September 2027 as its current expectation, and its own release lists construction and regulatory risks; Gulf News reported a $600 million cost increase in August 2026. Supply: many projects are completing in the same few years, which affects resale and rental competition at handover.

Rules: RAK's development law is changing under Law No. 10 of 2026, and RAK's fee schedule for off-plan registration isn't published as clearly as Dubai's or Abu Dhabi's. Data: Dubai has a public price index, service-charge index and project-status lookup through the DLD; we haven't found RAK equivalents, so price-per-sq-ft comparisons are harder.

Running costs: many island homes are hotel-branded, and branded residences can carry service charges and operator fees that aren't set until near handover; ask for the estimate in writing. Distance matters too: Aldar describes the island as about an hour from Dubai.

How do you check a project before you book?

Ask the developer for four documents. First, RERA's Off Plan Sale Permit for the project, which the 2023 decree required before any sale or advertising. Second, the escrow account details, which should be named in your Sale and Purchase Agreement; pay only into that account. Third, the registration of your purchase with RAK's real estate register, and the certificate that follows. Fourth, a written list of every fee and the service-charge estimate.

If the home is worth at least AED 2M, the federal ICP guide offers a 10-year Golden Residency for off-plan units bought from a developer approved by the local authority, so ask whether the developer is approved in RAK. Holding a visa doesn't change your tax position at home.

For a nearby alternative in another emirate, our Sobha Siniya Island page covers a launch in Umm Al Quwain, which Sobha places 10 minutes from Al Marjan Island, registered with a different land department again. This guide is general information, not legal or investment advice; use a UAE property lawyer for the SPA.

Trowers & Hamlins on Decree No. 12 of 2023; RAK Municipality RERA page; ICP Golden Residency guide.

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