Ras Al Khaimah seeks Hong Kong and mainland Chinese investors for landmark casino

A trade delegation from the UAE's Ras Al Khaimah is in Hong Kong promoting its first integrated resort, featuring the country's inaugural casino operated under the brand of Hong Kong-listed Wynn Resorts. The group highlights Hong Kong's role as a key gateway to Asia and China. The project is scheduled to open in 2027.

A trade delegation from Ras Al Khaimah (RAK), one of the seven emirates of the United Arab Emirates (UAE), visited Hong Kong this week for a high-level, three-day mission aimed at raising the emirate's profile and attracting regional investment. The group met with local officials and business representatives to promote RAK's 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 noted that the development includes 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 initiative underscores RAK's potential as an investment destination, blending natural landscapes with emerging entertainment facilities.

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South Korean Industry Minister Kim Jung-kwan shakes hands with UAE counterpart Sultan Al Jaber in Seoul, discussing AI and energy cooperation.
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South Korean industry minister discusses AI, energy ties with UAE

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South Korean Industry Minister Kim Jung-kwan met with his United Arab Emirates counterpart Sultan Al Jaber in Seoul on Thursday to discuss expanding cooperation in artificial intelligence and energy sectors. The meeting follows up on the leaders' summit held in Abu Dhabi last November. Both sides agreed to South Korea's involvement in the UAE's Stargate project and to increase joint oil stockpiling for energy stability.

Horse racing fans from around the world descended on Happy Valley on Wednesday for the traditional start of the Longines Hong Kong International Races week, with officials predicting an HK$35 million (US$4.5 million) boost to the economy. More than 20,000 spectators packed into the Causeway Bay venue, with betting turnover for the evening exceeding HK$1.34 billion. The week-long series has attracted 1,400 overseas visitors from Australia, the United Kingdom, the United States and various Asian countries on racing tours – an increase of 130 per cent over last year.

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Egypt and the United Arab Emirates are advancing efforts to conclude negotiations on a comprehensive economic partnership agreement to boost investment flows and economic competitiveness. Egypt's Minister of Investment and Foreign Trade Hassan El-Khatib highlighted this during a meeting in Cairo with UAE Minister of Foreign Trade Thani bin Ahmed Al Zeyoudi. The discussions focused on aligning perspectives to achieve mutual benefits.

Former senior project manager Raphael Chan has detailed rampant corruption in Hong Kong's construction industry, including bid-rigging syndicates linked to triads. He shared his experiences following the deadly Wang Fuk Court fire in Tai Po last month, which killed at least 161 people and prompted arrests tied to corruption and fraud. Chan has assisted the Independent Commission Against Corruption in probing such groups.

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Hong Kong's Chief Executive’s Policy Unit recently hosted a high-level round table on the space economy, aiming to position the city as a leading hub for finance, insurance, legal and arbitration services, and materials application in the booming NewSpace sector. This aligns with the nation's development plan.

Analysts say Saudi Arabia's nearly US$1 trillion investment target in the US may not be feasible, viewing it more as optics than a binding commitment. Amid China-US rivalry, new deals signed in November cover infrastructure, technology, and industry, including a civil nuclear cooperation agreement and an AI memorandum of understanding.

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United Arab Emirates President Sheikh Mohammed bin Zayed Al Nahyan will visit Japan as a state guest from February 8 to 10. The Japanese government announced on Tuesday that this marks the first visit by a UAE president in 36 years. The trip includes a meeting with Emperor Naruhito and talks with Prime Minister Sanae Takaichi.

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