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Shifting Sands: Dubai’s ‘The Island’ redefines luxury with a Vegas twist

Dubai’s bold leap into unprecedented luxury and entertainment, and how it’s pioneering a new chapter in global tourism, especially with projects such as The Island

Dubai, renowned for its relentless pursuit of innovation, is on the cusp of unveiling a new landmark: The Island. Launched in 2019, this Vegas-style island, developed by Wasl off the coast of Jumeirah, symbolises the latest in Dubai’s string of ambitious projects, set to redefine luxury living and significantly elevate the region’s tourism sector.

Since the early 2000s, Dubai has transformed from a once-quiet landscape into a bustling hub of global tourism and architectural wonders. Initially announced in 2017 and located near the iconic Burj Al Arab, The Island has recently achieved a significant milestone with a $1.2 billion construction contract award.

Anticipated to host Las Vegas brands—MGM, Bellagio, and Aria—The Island heralds a new era in luxury development.

The project’s substantial economic implications also extend beyond real estate, promising to bolster the UAE’s economy through job creation across various sectors, including hospitality and retail. The integration of iconic resorts will not only enhance Dubai’s stature but also drive a new wave of economic prosperity, reinforcing its standing as a premier global destination for finance and luxury.

Mirroring Dubai’s trajectory, Ras Al Khaimah is embracing similar growth with Wynn Resorts’ new integrated resort, Wynn Al Marjan Island. This venture marks Wynn Resorts’ first foray into the MENA region, offering a 1,500-room hotel, an events centre, gaming facilities, and a theatre—a significant addition to the UAE’s luxury and tourism narrative.
Both The Island and Wynn Al Marjan Island reflect a conscious effort to blend the allure of Las Vegas with the UAE’s rich cultural heritage. Architects and designers are ensuring these developments, while inspired by their Vegas counterparts, are deeply ingrained in local culture, offering a unique fusion of innovation and tradition.

Amid the nation’s transformative era, a landscape where businesses have ebbed and flowed, brokerage firm Provident Estate, has been an integral player in providing a holistic approach.

Established in 2008, the company is led by CEO Loai Al Fakir, who has experienced the industry’s fluctuations, navigating the shifts with adaptability and insight.

In addition, Al Fakir’s journey in real estate, spanning over 16 years, has been marked by significant contributions to Dubai’s property market. Under his leadership, Provident Estate has become synonymous with innovative and luxury real estate solutions. “Our philosophy is about crafting unique experiences, not just selling properties,” Al Fakir remarks, hinting at the deeper ethos driving the Vegas-style island project.

Building on Al Fakir’s philosophy, the Vegas-style island emerges as more than a mere addition to Dubai’s skyline; it symbolises a revolutionary shift in the luxury real estate domain. “This project transcends traditional boundaries, melding luxury living with unparalleled entertainment options,” he explains.

According to him, the inclusion of world-class resorts further solidifies Dubai’s commitment to economic growth and global prominence as an entertainment hub.

Synergising tourism with The Island

This ambitious project also marks a strategic convergence of the real estate and tourism sectors. Al Fakir emphasises this synergy, stating, “The integration of iconic resorts will not only enhance Dubai’s stature but also drive a new wave of economic prosperity.”

He anticipates a significant uptick, catalysed by the development of Dubai’s already bustling airports, creating a ripple effect across the real estate market. Al Fakir’s optimism about the future of Dubai’s luxury real estate market is not only positive but contagious. “Given the city’s dynamic nature and recent economic indicators, we foresee a sustained demand for luxury residences,” he observes.

This perspective aligns perfectly with Provident Estate’s mission, illustrating a future where innovation, luxury, and growth intersect, propelled by visionary projects like the Vegas-style island. Commenting on how entities such as his can play a role in this strategic shift, Al Fakir asserts that they are more than ready to support investors in navigating this new era.

“We are always striving to identify unique propositions in the UAE market to assist our clients by offering various services such as property management, holiday homes, financing, company setup, conveyancing, and much more. We are a one-stop shop for our clientele, and as the city grows, we are growing. We will continue to invest in the expansion of the business because we are long-term thinkers in the market and in the region,” he explains.

Al Fakir concludes that he views the Gulf countries as the new Europe, a sentiment that encapsulates the transformative journey of Dubai and the wider region.