A Dubai property developer has awarded contracts to build Las Vegas-style project The Island in the city.
Real estate developer Wasl awarded a AED4.4bn ($1.2bn) contract to the China State Construction Engineering Corporation, according to a report by MEED.
The contract was reported to be the largest construction deal in the Emirate since 2017.
The Island in Dubai
The Island has been under development for several years and is a new 10.5 hectare project off the coast of Umm Suqeim. Located near the Burj Al Arab, Jumeirah Beach Hotel and public beach it is tipped to feature more than 1,400 hotel rooms and apartments.
Hotel and hospitality brands MGM, Bellagio and Aria are said to be plotting properties in the development.
The hospitality firms’ strong connections to Las Vegas and history of casino projects have led to speculation a gaming facility could open in Dubai.
The General Commercial Gaming Regulatory Authority (GCGRA) was officially established in the UAE as a federal authority to introduce a world-leading regulatory framework for a national lottery and commercial gaming.
The GCGRA will create a socially responsible and well-regulated gaming environment, ensuring that all participants adhere to strict guidelines and comply with the highest standards.
Real estate developer Wasl awarded a AED4.4bn ($1.2bn) contract to the China State Construction Engineering Corporation, according to a report by MEED.
The contract was reported to be the largest construction deal in the Emirate since 2017.
The Island in Dubai
The Island has been under development for several years and is a new 10.5 hectare project off the coast of Umm Suqeim. Located near the Burj Al Arab, Jumeirah Beach Hotel and public beach it is tipped to feature more than 1,400 hotel rooms and apartments.
Hotel and hospitality brands MGM, Bellagio and Aria are said to be plotting properties in the development.
The hospitality firms’ strong connections to Las Vegas and history of casino projects have led to speculation a gaming facility could open in Dubai.
Earlier this year the UAE announced a new federal authority to manage commercial gaming and a national lottery in the country.
The General Commercial Gaming Regulatory Authority (GCGRA) was officially established in the UAE as a federal authority to introduce a world-leading regulatory framework for a national lottery and commercial gaming.
The GCGRA will create a socially responsible and well-regulated gaming environment, ensuring that all participants adhere to strict guidelines and comply with the highest standards.
This month MGM President and CEO, William Hornbuckle said a project with Wasl was under construction.
In a call with investors he said: “In Dubai, our partner Wasl, is under construction on a luxury development, including 1,400 hotel rooms with the MGM Grand, Bellagio and Aria brands.
“We currently have a hospitality management deal requiring no capital from us.
“We do see a significant opportunity if gaming were to be legalised, first in UAE and ultimately in Dubai.
“We believe they have the best gaming hospitality brands in the world with the best location in Dubai and our existing project could include a world-class gaming component, if approved.”
