Dubai Casino

[Wellington]

Heard online it was going ahead, then cancelled, then discussed with a friend who's business partner is very much involved in the people behind in Dubai who said it's going ahead.

What's the property market look like? - Still frothy?

 

[BeyondBorders]

There has actually been an announcement for a conglomerate of Vegas based entertainment companies starting to develop a casino island in Dubai just yesterday or the day before. Its a matter of time until Dubai dips into Gaming. Property market in Dubai is hot right now and feels pretty much like a top right now in areas such as Downtown, Palm and Marina , you can still score good deals in B-Location though.

Personally feeling bad for investors that signed up for overpriced plans in RAK due to the announced Casino. This one has been foreseeable as a bad choice.

 

[PinkCat]

I was spammed with so much offers for properties in RAK, once I saw they ask higher price per sq ft, than downtown Dubai I decided to stand on the side lines. If there is indeed a turn to gambling in Dubai I have been right.

 

[JimBeam]

They can start and then stop projects overnight.
Buying a property just because casino is being built means nothing really.

Apparently RAK is building something and the Dubai is just starting to build a casino (again) and it may take them a couple years to build (new artificial island with hotels, roads and everything).

So, let's say RAK opens up the casino first.
What happens when in 2 years after that once the casino is open in Dubai.
Who in the world will go to RAK then (maybe some people will but majority wont!).
How much would your property be worth then.

Also, people that go do Casinos, do they sleep in AirBnB style apartments or hotel rooms/suites?

 

[pomegranate]

There is speculation about the creation of a large casino on Al Marjan Island in RAK (Wynn). There have also been ongoing rumors about a casino on Bluewaters, despite the recent exit of Caesars Palace.

 

[PinkCat]

I think at this stage the Wynn casino is beyond speculation, I'm told it's supposed to be finished by 2027