'UAE casinos: Dubai's real estate market under threat from competitors over legal gambling in RAK, says expert.'

The emirate of Ras Al Khaimah has prepared for the launch of the UAE's first legal casino in 2027, developing the real estate sector to attract more wealthy people to the country as well as compete with Dubai. The premium resort from Wynn Resorts will include an 18,500 square meter world casino, which will be the largest in the world. The venture has attracted increased interest from investors and developers who have not previously shown interest in the emirate.

The presence of a global casino will not only transform the local real estate market, but will also strengthen the city's position as an attractive and lucrative real estate market in the UAE, said Simon Quinton, director of facilities management at Colliers MENA. The presence of this major''recreation, mountain hiking and glamping.

The emirate's real estate market has also undergone significant changes in 2023. Property Finder platform reported that Al Hamra Village and Al Marjan Island are the most sought-after areas to buy apartments. The city's land and real estate sector recorded a 45% increase in transactions in the first half of 2022, amounting to AED 4 billion, mainly due to a major deal with Wynn Hotel and Casino.

Meanwhile, Dubai's real estate market is booming. The latest figures from the Dubai Land Department''indicate a total real estate transaction volume of Dh179.4 billion.

The experts believe that Ras Al Khaimah is undergoing positive changes and developing its tourism offer, making it an attractive investment destination for wealthy people from all over the world.