A significant resort development, projected to cost billions of dollars, is rapidly progressing in Ras Al Khaimah, with an anticipated launch date in 2027. Construction has reached a milestone, with over 80% of its 1,542 rooms already completed. A substantial financial package of $2.4 billion has been secured to support the completion of this ambitious project.
The resort, with a total investment of $3.8 billion, is set to offer a luxurious experience, featuring suites and villas, a diverse selection of approximately two dozen dining options, a rejuvenating spa, a versatile event center, and a state-of-the-art theater. Authorities granted the resort a license for regulated activities in October.
The facility aims to provide a high-end hospitality experience, similar to those found in major entertainment hubs.
Officials stated the financial agreement represents a landmark in the region’s hospitality sector.
The financing involves a consortium of lenders, including prominent local financial institutions such as Abu Dhabi Commercial Bank, First Abu Dhabi Bank, Emirates NBD Capital Limited, and the National Bank of Ras Al Khaimah, alongside several international banking partners.
While traditional gambling remains restricted, a regulatory body has been established to oversee and regulate commercial activities. This includes various forms of entertainment, such as lottery, online platforms, sports-related activities, and integrated resort facilities.
The terminology used aligns with international standards employed by regulatory bodies in other regions.
Laying the groundwork
Project representatives have indicated that construction is progressing according to schedule, with a significant portion of the overall structure already in place.
The completion of the main structural phase of the resort tower is anticipated by the end of the current year, according to project updates.
“The construction team is maintaining a rapid pace, completing one floor each week, with the goal of reaching the structural completion milestone in December. Over the past few months, the resort tower has risen significantly,” representatives stated.
Gaming licence
The license for regulated activities was granted by the UAE’s General Commercial Gaming Regulatory Authority.
“The issuance of the license followed a thorough and comprehensive evaluation process conducted by the GCGRA,” officials confirmed last October.
“We appreciate the confidence and trust that the license represents and are proud to be the recipient of the first commercial facility license in the UAE.”
The GCGRA also authorized the country’s first regulated national lottery earlier this year.
The Lucky Day Lottery, operated by a dedicated entity, held its inaugural draw recently, offering a substantial jackpot prize.
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Cyber crime – This includes fraud, impersonation, scams and deepfake technology, tactics that are increasingly targeting infrastructure and exploiting human vulnerabilities.
Cyber terrorism – Social media platforms are used to spread radical ideologies, misinformation and disinformation, often with the aim of disrupting critical infrastructure such as power grids.
Cyber warfare – Shaped by geopolitical tension, hostile actors seek to infiltrate and compromise national infrastructure, using one country’s systems as a springboard to launch attacks on others.
if you go
The flights
Etihad and Emirates fly direct to Kolkata from Dh1,504 and Dh1,450 return including taxes, respectively. The flight takes four hours 30 minutes outbound and 5 hours 30 minute returning.
The trains
Numerous trains link Kolkata and Murshidabad but the daily early morning Hazarduari Express (3’ 52”) is the fastest and most convenient; this service also stops in Plassey. The return train departs Murshidabad late afternoon. Though just about feasible as a day trip, staying overnight is recommended.
The hotels
Mursidabad’s hotels are less than modest but Berhampore, 11km south, offers more accommodation and facilities (and the Hazarduari Express also pauses here). Try Hotel The Fame, with an array of rooms from doubles at Rs1,596/Dh90 to a ‘grand presidential suite’ at Rs7,854/Dh443.
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Meghan%20podcast
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The National’s picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
The biog
Name: Mariam Ketait
Emirate: Dubai
Hobbies: I enjoy travelling, experiencing new things, painting, reading, flying, and the French language
Favourite quote: “Be the change you wish to see” – unknown
Favourite activity: Connecting with different cultures
Profile
Company: Justmop.com
Date started: December 2015
Founders: Kerem Kuyucu and Cagatay Ozcan
Sector: Technology and home services
Based: Jumeirah Lake Towers, Dubai
Size: 55 employees and 100,000 cleaning requests a month
Funding: The company’s investors include Collective Spark, Faith Capital Holding, Oak Capital, VentureFriends, and 500 Startups.
‘Saand Ki Aankh’
Produced by: Reliance Entertainment with Chalk and Cheese Films
Director: Tushar Hiranandani
Cast: Taapsee Pannu, Bhumi Pednekar, Prakash Jha, Vineet Singh
Rating: 3.5/5 stars
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