标签： Africa

Ras Al Khaimah is poised for a transformative leap in its tourism and economic landscape with the development of the Wynn integrated resort on Al Marjan Island. Industry experts predict that this project will more than double the emirate’s visitor numbers, positioning it as a key player in the UAE’s hospitality sector. Tariq Bsharat, Chief Strategy and Business Development Officer at Marjan, emphasized that the resort is not merely a luxury addition but a ‘game-changer’ designed to elevate Ras Al Khaimah’s global tourism profile. Speaking at the International Real Estate Investment Summit, Bsharat drew parallels with global destinations like Singapore, Macau, and Las Vegas, where integrated resorts have significantly boosted tourism. The Wynn project, set to open in 2027, will feature 1,530 rooms, 22 dining venues, luxury retail, a spa, and entertainment areas. Extensive studies by EY, Colliers, and JLL forecast a surge in visitors from 1.3 million in 2023 to 3.8 million in 2027, eventually reaching 5.5 million. Colliers estimates that the resort could increase UAE-wide visitor arrivals by up to 9 per cent, highlighting its national significance. Beyond tourism, the project is expected to drive population growth, demand for residential units, and job creation, creating a virtuous cycle of development. Marjan is also advancing flagship projects like RAK Central and Marjan Beach to support this growth. Investor confidence has surged since the Wynn announcement, with increased land transactions and development activity across Al Marjan Island. Abdulla Al Abdouli, CEO of Marjan, highlighted the emirate’s diverse landscape as a magnet for varied investments, from luxury retreats to waterfront developments.

Dubai is set to redefine its role in the global financial landscape with the unveiling of a new financial centre within the Dubai Multi Commodities Centre (DMCC). This strategic move marks a significant evolution for the city, transitioning from a global gateway hub to a seamless convergence point for trade, finance, technology, and capital. The announcement was made during DMCC’s Made For Trade Live roadshow in Vietnam, where over 550 Vietnamese business leaders explored Dubai’s potential as a platform for international expansion. The event also highlighted the strengthening economic ties between the UAE and Vietnam under the Comprehensive Economic Partnership Agreement (CEPA).

The upcoming financial centre will serve as a financial engine for DMCC’s thriving business ecosystem, integrating banks, fintech innovation labs, digital asset platforms, venture capital firms, and specialized financial service providers into one cohesive district. This initiative aims to create a robust financial backbone that supports Dubai’s trade flows, entrepreneurial growth, commodity networks, and digital economy. Companies within DMCC’s 26,000-strong community will gain streamlined access to capital, structured finance, risk solutions, cross-border settlement frameworks, and investment partnerships.

Ahmed bin Sulayem, DMCC’s Executive Chairman and CEO, described the project as transformative, emphasizing its role in connecting member companies directly to the global financial system. The centre will focus on trade finance, fintech innovation, and digital-asset solutions, aligning with the UAE’s ambition to position Dubai among the world’s most influential financial hubs. The new centre is expected to complement the Dubai International Financial Centre (DIFC), with DMCC focusing on trade-related financial services such as commodity finance, supply-chain financing, and blockchain-enabled settlement systems.

The timing of this development coincides with Dubai’s growing appeal as a global wealth hub. Independent research projects that the UAE will attract 9,800 high-net-worth individuals in 2025, the largest net inflow globally. Additionally, trade connectivity between the UAE and Southeast Asia is rapidly expanding, with the UAE-Vietnam CEPA driving bilateral non-oil trade to $7 billion in the first half of 2025. The new financial centre will further enhance Dubai’s position as a command centre where global capital meets global trade, shaping the next generation of financial systems.

Abu Dhabi has unveiled an ambitious strategy to significantly boost its tourism sector, aiming to double its GDP contribution, add 18,000 new hotel rooms, and create 216,000 jobs by 2030. This initiative is part of a value-driven approach that integrates culture, sustainability, and innovation, as announced by Saeed Al Fazari, Executive Director at the Department of Culture and Tourism – Abu Dhabi (DCT).

Al Fazari emphasized that the strategy prioritizes quality, cultural preservation, and sustainable practices. Abu Dhabi already boasts the world’s highest concentration of five-star hotels, with 21 new properties currently under development. The plan targets a 7% annual growth in visitors, increasing the tourism GDP contribution from Dh45 billion (US $24.5 billion) to Dh90 billion.

The job creation target of 216,000 surpasses the previously stated goal of 178,000, reflecting an upward revision. Al Fazari highlighted the importance of equipping the youth with skills in digital marketing and creative industries to meet this demand. The emirate is investing Dh25.7 billion (US $7 billion) annually into tourism, culture, and creative industries, supported by expanded air connectivity with 30 airlines flying to 120 global destinations and advanced digital infrastructure, including biometric airport access and e-services.

Abu Dhabi’s commitment to sustainability is evident in its protection of 75% of the UAE’s mangrove population and its UNESCO-listed Al Ain sites. Cultural assets, such as the Saadiyat Cultural District, which houses the Louvre Abu Dhabi and the soon-to-open Natural History Museum and Zayed National Museum, remain central to the strategy. Al Fazari confirmed the opening dates for these museums: the Natural History Museum Abu Dhabi on November 22 and the Zayed National Museum on December 3.

“Abu Dhabi is not just keeping pace with global travel trends,” Al Fazari concluded, “we are helping to define them.” This comprehensive plan positions Abu Dhabi as a global leader in tourism, blending economic growth with cultural and environmental stewardship.

The Abu Dhabi-based NMDC Group has announced a robust financial performance for the first nine months of 2025, with revenues climbing to Dh20.5 billion, marking an 11% year-on-year increase. Net profit soared by 26% to Dh2.8 billion, driven by efficient project execution, expanded margins, and strategic international market expansion. The engineering and marine dredging conglomerate, listed on the Abu Dhabi Securities Exchange, reported a net profit margin of 13.5% during this period. The company’s project backlog stood at Dh62.3 billion as of September, with Dh17.7 billion in new project awards, 38% of which originated from overseas markets. Notably, NMDC secured significant contracts, including a Dh2.24 billion project in Manila Bay, Philippines, a Dh382.7 million marina construction in Salalah, Oman, and a Dh4.17 billion subsea gas pipeline project in Taiwan. The Group’s total project pipeline reached Dh89 billion, encompassing its five business units: NMDC Dredging & Marine, NMDC Energy, NMDC Infra, NMDC Engineering, and NMDC LTS. Chairman Mohamed Thani Al Rumaithi highlighted the company’s strategic agility and execution capabilities, emphasizing its role as a trusted global partner for high-value, complex projects. Group CEO Eng. Yasser Zaghloul attributed the success to operational efficiency and diversification, underscoring the importance of international expansion and client confidence. Additionally, NMDC reinforced its regional energy development role through a three-year collaboration with ADNOC Logistics & Services and an extended partnership with Saudi Aramco. On the sustainability front, NMDC maintained its AA ESG rating from MSCI for the second consecutive year and deepened its partnership with the Environment Agency – Abu Dhabi to protect marine ecosystems. Looking ahead, NMDC remains committed to driving growth by strengthening its presence in local and international markets.

Ras Al Khaimah is poised to elevate its coastal appeal with the launch of a cutting-edge superyacht marina on Raha Island, a project announced during the International Real Estate Investment Summit. Developed in collaboration with the Monaco Yacht Club, the marina will cater to a variety of vessels, including large superyachts, and is expected to become a focal point for both residents and tourists seeking a premium waterfront lifestyle. The initiative is part of the broader Mina Al Arab development, which spans nearly four million square meters and integrates residential, leisure, and hospitality elements across two interconnected islands. Sameh Muhtadi, CEO of RAK Properties, revealed that the company is nearing completion of projects on neighboring Hayat Island, with Raha Island set to become the next priority. The marina will feature dedicated spaces for smaller boats and larger superyachts, further enhancing the emirate’s maritime infrastructure. This development aligns with a surge of luxury investments in Ras Al Khaimah, including projects by global brands such as Armani, Four Seasons, Anantara, and Nikki Beach. Muhtadi emphasized that the involvement of these international operators underscores confidence in the emirate’s investment climate and regulatory framework. RAK Properties has reported significant growth, with a 32% increase in revenue and an 80% rise in profitability as of September, driven largely by international investors. Environmental sustainability remains a cornerstone of the development, with projects designed to protect mangrove habitats and balance progress with ecological preservation.