China State Construction Engineering Corporation (CSCEC), based in Beijing, has clinched a significant contract worth AED4.4 billion ($1.2 billion) to construct The Island project, marking the largest deal since 2017.
The Island Project Welcomes MGM, Bellagio, and Aria to Its Horizon
The Island project, situated on a 10.5-hectare island off the coast of Umm Suqeim, is poised to become a luxurious destination, featuring renowned hotel brands such as MGM, Bellagio, and Aria. The prospect of these high-profile brands entering Dubai has sparked speculation about potential gambling facilities if the UAE decides to legalize it, reported MEP Middle East.
The development is expected to offer a diverse range of amenities, including 1,400 hotel rooms and apartments, along with retail, dining, and entertainment options. German firm Buro Kling Architectural Engineering Consultants is playing a pivotal role as the main and structural consultant, alongside local firm APCC overseeing the earthworks.
The timing of this milestone coincides with a surge in optimism for Dubai’s project market, evident in the recent approval of the $4.9 billion Blue Line extension in the Dubai Metro network. The Island project, strategically located near the Jumeirah Beach Hotel and Marsa al-Arab, adds a new dimension to Dubai’s ever-evolving skyline and urban landscape.
CSCEC’s triumph in securing The Island project follows its earlier successes in Dubai, including the AED886 million ($241 million) main works contract for Damac Properties’ 71-storey Cavalli Tower and the W-Residences project awarded by luxury real estate developer DarGlobal.
With a brand value of $31.9 billion in 2022, as reported in the Brand Finance Engineering and Construction 50 2023 report, CSCEC stands as the world’s largest transnational conglomerate, known for its expertise in civil and industrial engineering, real estate development, and home building.
Wynn Resorts Redefines Luxury in Dubai with $3.90 Billion Casino Resort
MGM is not the only gambling company trying to set foot in Dubai. Wynn Resorts advances with its groundbreaking $3.90 billion integrated casino resort on the artificial Al Marjan Island in Ras Al Khaimah, UAE, scheduled for an early 2027 launch.
Partnering with local entities Marjan and RAK Hospitality Holding, Wynn ensures compliance with stringent UAE regulations. The project, led by ALEC Engineering and Contracting, has progressed smoothly since March, reflecting Wynn’s commitment to the region’s surging demand for luxury gaming and resorts.
Recent concept images revealed a sleek hotel tower reminiscent of the Las Vegas Strip, featuring 1,500 hotel rooms, expansive gaming areas, a spa, entertainment facilities, and a luxurious shopping center.
The $3.90 billion investment signifies Wynn’s substantial commitment to the UAE’s hospitality sector, aiming to meet the escalating demand for luxury destinations in the Middle East.