8 institutional-grade beachfront retail units facing the UAE's first legal casino resort — Wynn Al Marjan (USD 8B). December 2026 handover. Contracted day-1 income. Zero capital gains tax.
Six structural advantages converge to create an opportunity that cannot be replicated after Wynn Al Marjan opens Q1 2027. This is the pre-arbitrage window.
Wynn Al Marjan (USD 8B, opening Q1 2027) is the UAE's first and only legal casino resort. Oceano's retail units face the casino complex directly from Island 4's apex — the single most premium commercial position on Al Marjan.
USD 8B AnchorHirsch Bedner Associates (Hilton, Four Seasons, Waldorf Astoria) designed the interiors. Dewan Architects engineered the structure. Hotel-grade retail podium with private beach and jetty.
G+18 Twin TowersOnly 8 retail units offered off-market in the entire portfolio. Al Marjan Island 4 apex position cannot be replicated. Beachfront casino-view duplex retail is effectively zero-supply in the region.
Zero Competing SupplyAED 1,000/sqft/year rental rate confirmed for December 2026 handover. Annual rental income of AED 35.6M on AED 212.3M portfolio. Undisclosed operator discussions underway (NDA-gated).
AED 35.6M/Year IncomeEntry at AED 5,962/sqft (USD 1,623) vs. mature casino-adjacent retail at USD 7,300–18,350/sqft (Las Vegas, Macau, Singapore). This PSF gap is the fundamental arbitrage opportunity.
Up to 11x DiscountUAE's zero-tax environment adds 15–25% net return advantage over Singapore (17% corporate), Macau, or Las Vegas. AED pegged to USD since 1997 — zero FX risk for USD investors.
Net Advantage: +25%Full block off-market at 10% institutional discount. All-In price includes 5% VAT + 4% DLD + AED 8,000 registration per unit. 2030 value based on developer-documented portfolio exit projections.
| Unit | Tower | sqft | View | List AED | Bulk AED (−10%) | Entry PSF | Annual Rent | Gross Yield | All-In AED* | Net Yield | 2030 Value (AED) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Retail 2 | A | 4,986.92 | Sea Casino | 32,414,947 | 29,173,452 | AED 5,851 | 4,986,920 | 17.10% | 31,799,045 | 15.68% | 36,466,815 |
| Retail 3 | A | 4,746.24 | Sea Casino | 30,850,521 | 27,765,469 | AED 5,851 | 4,746,240 | 17.10% | 30,263,391 | 15.68% | 34,706,836 |
| Retail 4 | A | 7,778.97 | Sea Casino | 50,563,259 | 45,506,933 | AED 5,850 | 7,778,970 | 17.09% | 49,598,051 | 15.68% | 56,883,666 |
| Retail 5 | A | 6,494.30 | Beach Casino | 45,460,040 | 40,914,036 | AED 6,300 | 6,494,300 | 15.87% | 44,596,183 | 14.56% | 51,142,545 |
| Retail 7 | B | 2,534.90 | Beach | 17,744,289 | 15,969,860 | AED 6,301 | 2,534,900 | 15.87% | 17,413,945 | 14.56% | 19,962,325 |
| Retail 8 | B | 2,648.14 | Beach | 18,536,943 | 16,683,248 | AED 6,301 | 2,648,140 | 15.87% | 18,180,735 | 14.56% | 20,854,060 |
| Retail 9 | B | 3,307.32 | Beach Corner | 23,151,211 | 20,836,090 | AED 6,301 | 3,307,320 | 15.87% | 22,709,970 | 14.56% | 26,045,113 |
| Retail 10 | B | 3,128.75 | Community | 17,208,085 | 15,487,277 | AED 4,950 | 3,128,750 | 20.20% | 16,891,730 | 18.52% | 19,359,096 |
| TOTAL / AVG | 35,625.54 | 235,929,295 | 212,336,365 | AED 5,962 | 35,625,540 | 16.78% | 231,510,639 | 15.39% | 265,420,456 |
* All-In = Bulk price + 5% VAT + 4% DLD + AED 8,000 registration per unit. 2030 Value = proportional share of developer-documented AED 307.3M portfolio exit projection.
Based on confirmed contracted rental at AED 1,000/sqft/yr and developer-documented exit projections. 4-year blended IRR of ~21% on full block acquisition.
| Year | Portfolio Value (AED) | Capital Growth | Annual Rental (AED) | Cumulative Return on Cost |
|---|---|---|---|---|
| 2026 — Entry | 212,336,366 | — | — (pre-handover) | — |
| 2027 — Year 1 | 265,420,457 | +25.1% | 35,625,540 | +41.9% |
| 2028 — Year 2 | 278,691,480 | +31.2% | 35,625,540 | +64.8% |
| 2029 — Year 3 | 292,626,054 | +37.8% | 35,625,540 | +88.0% |
| 2030 — Year 4 (Exit) | 307,257,357 | +44.7% | 35,625,540 | +111.4% |
| 4-Year Totals | Exit AED 307.3M | Exit gain: +AED 94.9M | AED 142.5M rental | ~21% IRR |
Structured for sovereign wealth funds, family offices, and individual HNWIs. Each scenario participates in the same day-1 yield and Wynn Effect capital appreciation.
Al Marjan Island currently has fewer than 15,000 sqft of Grade-A beachfront retail GLA. Post-Wynn (Q1 2027), visitor arrivals surge 150–320% against a supply pipeline incapable of keeping pace with constrained island geography.
| Supply Metric | 2025 — Now | 2027 — Post-Wynn | 2030 — Mature |
|---|---|---|---|
| Active Grade-A Retail GLA | <15,000 sqft | ~100,000 sqft | ~300,000 sqft |
| Beachfront Casino-View Retail | ZERO sqft | ~50,000 sqft | ~120,000 sqft |
| Off-Market Institutional Block | 35,625 sqft (this portfolio) | — | — |
| Oceano Share of Premium Tier | — | 35.6% of premium tier | 11.9% of total |
| Annual Visitor Arrivals (RAK) | 1.2M | 3.0–3.5M | 5.0M |
| Hotel Occupancy (Al Marjan) | 68% | 82% | 88% |
| Demand Driver | Magnitude | Certainty Level |
|---|---|---|
| Wynn Al Marjan Gaming Visitors | 2–3M/year | CONFIRMED |
| GCC HNWI Gaming Diversion | 450,000+ individuals | HIGH |
| India Outbound HNWI (2-hr flight) | ~200,000 UHNWIs | HIGH |
| European Gaming Tourism | +500K visitors est. | PROBABLE |
| Wynn Hotel Guests (F&B demand) | 1,500+ rooms · 85% occ. | CONFIRMED |
| RAK Tourism Ministry Targets | 5M arrivals by 2030 | GOVT TARGET |
| Al Marjan Residential Pipeline | 37K units · ~100K residents | PIPELINE |
Entry at USD 1,623/sqft while yielding 16.78% — higher than any mature casino market despite trading at a 3–11x PSF discount. As the Wynn Effect reprices the island, this is the only opportunity to capture pre-arbitrage pricing.
| Market | Casino Resort | Capital PSF (USD) | Rental PSF (USD/yr) | Implied Yield | vs. Oceano |
|---|---|---|---|---|---|
| Al Marjan (Oceano) | Wynn Al Marjan | USD 1,623 | USD 272 | 16.78% | BASELINE |
| Dubai (prime retail) | N/A | USD 2,800 | USD 110–160 | 4–6% | 1.7× higher PSF · 3× lower yield |
| Las Vegas Strip | Bellagio / Wynn | USD 5,000–7,300 | USD 350–800 | 7–11% | 3–4.5× higher PSF |
| Singapore (MBS) | Marina Bay Sands | USD 3,800–6,000 | USD 200–600 | 5–10% | 2.3–3.7× higher PSF |
| Macau (Cotai) | Venetian / Wynn | USD 5,000–10,000 | USD 200–500 | 4–7% | 3.1–6.2× higher PSF |
| Monte Carlo | Casino de Monte-Carlo | USD 8,000–15,000 | USD 300–600 | 3–5% | 4.9–9.2× higher PSF |
| Oceano Advantage vs. Mature Markets | 3.1x–11.3x lower entry PSF · 2–4x higher yield | ||||
| UAE Property | Type | Annual Rent (AED/sqft/yr) | vs. Oceano AED 1,000 |
|---|---|---|---|
| Dubai Mall — Prime Luxury Zone | World's most visited mall | AED 2,000–3,500 | 2–3.5× Oceano |
| Atlantis The Palm (F&B / Retail) | Iconic resort retail | AED 1,400–2,600 | 1.4–2.6× Oceano |
| Atlantis The Royal (Ultra-Luxury) | World's most exclusive resort | AED 2,500–4,200 | 2.5–4.2× Oceano |
| Marsa Al Arab — Waterfront Hub | Dubai luxury waterfront F&B | AED 2,200–3,800 | 2.2–3.8× Oceano |
| Palm Jumeirah Promenade | Beachfront lifestyle retail | AED 700–1,100 | 0.7–1.1× Oceano |
| Al Marjan — Current (pre-casino) | Pre-Wynn market | AED 200–350 | 0.2–0.35× Oceano |
| Oceano — Contracted (Dec 2026) | Casino-view, beachfront | AED 1,000 ✓ | Baseline |
In every jurisdiction that introduced its first legal casino resort, adjacent commercial real estate appreciated 120–400% within 5 years of opening. Al Marjan has structural advantages none of these markets had.
Within the entire 6-hour flight radius of RAK, there is not a single other legal casino resort. Monte Carlo (7hr+), Macau (9hr+), Las Vegas (14hr+), Singapore (7hr+). Wynn Al Marjan holds a regulatory monopoly over the world's largest untapped gaming catchment.
| Radius | Total Population | UHNWI ($30M+) | Key Markets | UHNWI by Region |
|---|---|---|---|---|
| ✈️ 2-Hr | ~1.5 Billion | ~320,000 | UAE, KSA, Kuwait, Qatar, Bahrain, Oman, Iran, W. India (Mumbai/Delhi), Pakistan (Karachi), Jordan, Lebanon, Egypt | GCC 95K · W. India 120K · Pakistan 15K · Iran 25K · Egypt 12K · Other MENA 53K |
| ✈️ 4-Hr | ~3.8 Billion | ~580,000 | +All India, East Africa (Nairobi), Central Asia (Kazakhstan, Uzbekistan), Bangladesh, Sri Lanka, broader MENA | India interior +150K · East Africa 18K · Central Asia 22K · CIS south 20K · Broader MENA 42K |
| ✈️ 6-Hr | ~5.5 Billion | ~830,000 | +SE Asia (Bangkok, Singapore, KL, Jakarta), Russia/Moscow, S. Africa (Johannesburg), W. China, S. Europe | SE Asia 130K · Russia/CIS 60K · S. Europe 32K · S. Africa 18K · W. China 10K · Others 30K |
This is an off-market portfolio. 8 units. One window before Wynn Al Marjan opens and permanently reprices the island.
This report is prepared exclusively for sophisticated investors and does not constitute financial advice. All financial projections are illustrative scenarios based on stated assumptions and publicly available market data. Appreciation projections are based on Evara Properties market analysis and third-party data from DLD, RAK Tourism Authority, and industry research — they are not guaranteed. Investors should obtain independent financial, legal, and tax advice before making investment decisions. Currency conversions at May 2026 rates: USD/AED 3.6725. Evara Properties LLC is a licensed real estate advisory firm, Dubai, UAE.
