A trade delegation from Ras Al Khaimah (RAK), one of the seven emirates of the United Arab Emirates (UAE), is seeking Hong Kong and mainland investors for its first integrated resort, describing the city as a key gateway to Asia and China.
The high-level, three-day mission in Hong Kong this week aimed to raise RAK’s profile and attract regional investment.
During the visit, the delegation met local officials and business representatives to promote the emirate and its landmark resort development – the UAE’s first casino project – to be operated under the brand of Hong Kong-listed Wynn Resorts.
“Hong Kong is a very good gateway from the Middle East into Asia and China,” said Abdulla Al Abdouli, group CEO of Marjan, a leading master developer in RAK, in an interview with the Post on Tuesday.
Abdouli said the development included Wynn Al Marjan Island, a signature integrated resort scheduled to open in 2027. The project will showcase the emirate’s distinctive attractions, from its 43km (26 miles) of pristine coastline to Jebel Jais, the UAE’s highest peak at about 1,900 metres (6,233 ft).
“We would like to have a wider window and a broader range of companies to be part of that [investment in Ras Al Khaimah],” he said, adding that the delegation hoped the trip would increase the emirate’s exposure and attract new investors.
The landmark destination is poised to become the UAE’s first integrated resort.
Meanwhile, as part of the delegation team, Abdouli also met family offices in the city to exchange references.
While the Hong Kong government is embarking on the second phase of its family office development strategy over the next few years, aiming to attract 220 of them from around the world, RAK is also developing its own family office infrastructure to facilitate communications and mutual connections.
“We are not a competitor with Hong Kong as both regions [Ras Al Khaimah and the city] have geographic diversification,” he said.
He noted that an elite network of wealth planners, legal experts and corporate service providers operating in this global arena often maintain a dual presence in both cities, creating a natural landscape for collaboration.
Asked about the competition between Hong Kong and Singapore, he said both places had their own distinct strengths.
“Singapore and Hong Kong each has its own identity; you look at each other for inspiration... you have friendly rivalry and competition between them,” he said.
He added that the situation was similar in the UAE, where each emirate might have its own areas of focus and attract distinct profiles of clients.
In recent years, Hong Kong has actively taken the lead in promoting exchanges and cooperation with countries in the Middle East, including preparations for establishing an Economic and Trade Office in Riyadh, Saudi Arabia. -- SOUTH CHINA MORNING POST
