Arranged the Initial Financing of c. $15m USD for a Resort and Residences Hotel Development on Marjan Island, RAK, UAE, Adjacent to the Forthcoming Wynn Resort

Verdi Global is proud to announce its involvement in the initial financing of approximately $15 million USD for an exciting new resort and residences hotel development on Marjan Island, Ras Al Khaimah (RAK), UAE. This high-profile project, strategically located adjacent to the forthcoming Wynn Resort, is poised to make a significant impact on the UAE’s tourism and hospitality sector, contributing to the region's economic growth and enhancing its global appeal.

Project Overview

The development will feature a luxurious resort and exclusive residences, offering world-class accommodations and amenities that cater to both leisure travelers and long-term residents. The project is situated on Marjan Island, a highly sought-after location in RAK that has become a hub for upscale tourism and real estate. This development, with its unique offerings and prime location, is set to become a key part of the region's evolving tourism landscape.

Key features of the resort and residences include:

• Luxury Accommodations: The resort will feature a variety of high-end rooms, suites, and villas, designed to meet the needs of affluent guests seeking comfort and privacy. The residences will offer long-term living options, providing residents with an unparalleled lifestyle in a prime location.

• State-of-the-Art Amenities: The development will include a range of top-tier amenities, including fine dining restaurants, spas, fitness centers, and recreational facilities, ensuring that guests and residents enjoy a truly exceptional experience.

• Prime Location: Situated adjacent to the forthcoming Wynn Resort, the project benefits from proximity to one of the world’s most renowned luxury hotel brands. This strategic location on Marjan Island offers breathtaking views of the Arabian Gulf, providing a stunning backdrop for the development.

Regional Impact and Opportunities

This resort and residences development will have a far-reaching impact on both the local economy of Ras Al Khaimah and the broader UAE tourism sector. Here’s how it will contribute to the region’s growth:

1. Boosting the UAE’s Hospitality and Tourism Sectors

The UAE has long been a leader in the luxury hospitality industry, with world-renowned resorts and hotels attracting millions of tourists each year. This new development will complement the country’s existing tourism infrastructure and enhance its global appeal, helping to attract even more international visitors.

• Increased Tourist Arrivals: The project is expected to draw both leisure tourists and business travelers, contributing to the growth of Ras Al Khaimah’s tourism sector. As more visitors flock to the area, the demand for high-end accommodation and leisure facilities will increase, benefiting the local economy.

• Job Creation and Economic Growth: The construction and operational phases of the development will generate numerous employment opportunities in sectors such as hospitality, real estate, and tourism management. This will further strengthen the local economy by providing new jobs and supporting local businesses.

2. Strengthening Ras Al Khaimah’s Position as a Prime Destination

Ras Al Khaimah has been making significant strides in establishing itself as a premier tourist destination in the UAE. The new resort and residences project will further solidify the emirate’s position in the competitive luxury tourism market.

• Enhancing the Tourism Portfolio: With its combination of high-end accommodation, exclusive residences, and world-class amenities, the project will add a unique dimension to Ras Al Khaimah’s tourism offerings, attracting both regional and international travelers.

• Complementing Existing Developments: Located next to the Wynn Resort, the development will form part of a larger, thriving tourism hub on Marjan Island. This proximity to another prestigious brand will enhance the overall attractiveness of the area, driving greater foot traffic and boosting the value of surrounding properties.

3. Supporting Sustainable Development and Economic Diversification

The UAE’s broader vision for economic diversification includes reducing dependence on oil revenues and promoting sectors like tourism, hospitality, and real estate. This development plays a pivotal role in this strategy by contributing to the growth of the non-oil economy and supporting sustainable tourism initiatives.

• Eco-friendly Practices: The project will incorporate sustainable building practices and eco-friendly technologies, aligning with the UAE’s commitment to environmental sustainability and reducing its carbon footprint.

• Long-Term Economic Impact: By attracting international investment and increasing tourism revenues, the development will have a lasting impact on the region’s economic diversification efforts, creating a sustainable and resilient economy for the future.

The $15 million USD initial financing for the resort and residences hotel development on Marjan Island represents a significant milestone in Ras Al Khaimah’s journey to becoming a global leader in luxury tourism. By offering world-class amenities, exclusive residences, and an unrivaled location, the project is set to become a cornerstone of the UAE’s tourism and hospitality sectors.

With its potential to boost the local economy, create jobs, and attract international tourists, this development will make a lasting impact on Ras Al Khaimah and the UAE as a whole. Verdi Global is proud to be involved in this transformative project, and we are confident that it will contribute to the long-term success and prosperity of the region.