On January 1, 2024, the U.A.E.'s northernmost emirate, Ras AI Khaimah (RAK), made history with an eight-minute-long fireworks and drone display along a 4.5km stretch of its waterfront, claiming two Guinness World Record titles-the "longest chain of aquatic floating fireworks," spanning 5.8 kilometers, and the "longest straight-line drone display," reaching two kilometers across the sky.
RAK is making itself known for groundbreaking announcements. Among the crescendo of developments in the emirate, all eyes are currently eagerly fixed on the anticipated arrival of the $3.9 billion Wynn AI Marjan Island resort, slated to open in 2027. Perched on an artificial island-which took over nine years to develop since its inception in 2004-the resort is being spearheaded by local partners Marjan and RAKHH and has already made history as the first establishment in the U.A.E. to secure a regulatory casino license, adding a new dimension of allure to the region's hospitality landscape.
Marking Las Vegas-based developer Wynn Resorts' first foray in the MENA region and its first-ever beachfront property, the integrated casino resort with 1,500 keys promises shopping, a gaming area, an event center, wellness and spa facilities, 24 dining and lounge experiences, and extensive entertainment options. "The Wynn Integrated Resort Development on Marjan Island will not only elevate RAK's global appeal but also catalyze further investment opportunities," anticipates Alison Grinnell, CEO of RAK Hospitality Holding (RAKHH).
Diese Geschichte stammt aus der June 2024-Ausgabe von Forbes Middle East - English.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der June 2024-Ausgabe von Forbes Middle East - English.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
CONSCIOUS INVESTING
VentureSouq's cofounders and general partners, Suneel Gokhale, Sonia Gokhale, Tammer Qaddumi, and Sonia Weymuller, are actively reshaping the investment landscape. With $250 million in assets under management, the thematic fund manager is forging a distinct path, with a focus on fintech and climate tech.
VENTURING BEYOND CAPITAL
In just seven years, Shane Shin and Mahmoud Adi, Founding Partners of Shoroog Partners, have turned their startup into one of the Middle East’s biggest startup investors, with 500 million in assets under management. With ambitions far beyond venture capital, they’re now expanding further into credit markets and looking at where they can be pioneers.
ROCK STAR
WHAT IF THE REVOLUTIONARY TECHNIQUES DEVELOPED TO FRACK ROCKS FOR OIL COULD BE MODIFIED TO UNLOCK LIMITLESS CLEAN ENERGY FROM THE HEAT OF THE EARTH’S CRUST?
Breaking New Territory
Moroccan-Canadian singer and 30 Under 30 alumna Faouzia is having her biggest year yet and enjoying newfound fame in China. As her stardom rises, she’s now exploring new projects and possibilities.
5 Biggest MENA IPOs of 2024
This year has been pivotal for MENA, marked by a series of high-profile IPOs that drew interest from local and international investors. Here’s a look at the five biggest IPOs that defined 2024.
TOP VENTURE CAPITALISTS
MENA has emerged as a vibrant hub for innovation and entrepreneurship, fostering a dynamic landscape for startups.
Top Funding Rounds in MENA 2024
This year has seen some of MENA’s largest-ever funding rounds. Here’s a look at five standout deals. Only startups that were founded less than 10 years ago and had disclosed their funding rounds as of November 27, 2024, were considered.
Key Insights From MENA's Funding Landscape
MENA saw a mixed performance in the first nine months of 2024.
A Look Ahead: Travel Trends Shaping 2025
What will drive wanderlust in 2025? Here’s a look at the key travel trends set to dominate the year.
Codebreakers
Backed by 200 million in funding, 28-year-old SCOTT WU and his team of competitive coders at Cognition are building an Al tool that can program entirely on its own, potentially disintegrating the whole industry. Is its 2 billion valuation the result of a true breakthrough, or just more Al hype?