The introduction of a gaming facility in the United Arab Emirates has sparked a keen interest with the local architectural, interior design and outdoor design industries. The country is taking its first foray into the gaming world and will see the first development from Wynn Resorts in the northernmost emirate, Ras Al Khaimah.
The exciting current plans of the international beach resort destination include a 1,000-room hotel, a high-end shopping mall, a state-of-the-art meeting and convention facility, an exclusive spa, more than 10 restaurants and lounges, a wide array of entertainment choices, a gaming area, a marina and other amenities.
The project will be larger than the current flagship development, Wynn Las Vegas, making it one of the 10 largest casinos globally. Set to open in 2026, the casino will cover an impressive 18,500 square metres.
How will this help local economy?
The talks of this town over the year are based around gaming, the metaverse, AI and virtual reality. Much discussion was around the introduction of the gaming industry in Ras Al Khaimah and how the design and architectural industries will utilise these new trends into a built environment.
Many interesting and spontaneous debates revolved around technical, aesthetic, market and strategic issues and dynamics affecting the industry. It was highlighted that there has never been a more critical time for innovation, knowledge-sharing, and fellowship. The post-pandemic world has given the industry much food for thought and changed the trajectory forever.
Over the past two years, most if not all sectors have struggled to trade normally. However, one industry has seen massive growth as more people have redecorated, remodelled, and renovated. The global market for interior design services in 2020 was estimated at $150.7 billion; it is poised to grow by $24.13 billion by 2025 and is projected to reach $255.4 billion by 2027.
Resulting from enforced ‘stay at home’ government policies, outdoor furniture has seen an upturn in sales in home goods and furniture. Although many retailers had to close their studios and galleries during the pandemic, many saw an increase in online sales with digital showrooms. The biggest increase has been in office and outdoor furniture where people have been working from home and enjoying time on their balconies or private gardens.
With the growth of worldwide construction activities, demand from the commercial infrastructure sector, hotels and integrated resorts, improved standard of living, and the introduction of premium interior design services.
The UAE is raising the bar for architecture, interior design and outdoor furniture and spearheading the market with an overall share of 40 percent. Economic growth in the GCC is one of the main drivers of the industry.
The growth is linked to ambitious mega-construction projects, a rising population and increased disposable income. High household incomes have increased across the region, consistent spending growth and strong consumer confidence is growing demand for interior design services and home and garden décor.
The region’s affluence, and abundant natural resources anticipate continued strong market demand, making GCC countries an attractive and appealing prospect for foreign investors and international companies.
The introduction of Wynn, the integrated resort will, according to the Ras Al Khaimah Tourism Development Authority, be significant for the emirate and the country. The bold move is another acceleration of liberalisation, allowing the country to diversify from a traditionally oil-based economy and attract tourism, investment and foreign talent.
With a rise in disposable income and travel spending, the global tourism business has thrived in recent years. This trend has provided a lucrative opportunity for outdoor furniture manufacturers.
The Middle East & Africa are considered developing markets and are expected to witness noticeable growth rates due to the changes of travel habits. The global travel industry is back, and travellers are particularly interested in hotels and integrated resorts that have open spaces.
To attract potential consumers, hotels and restaurants are demanding high-quality, sustainable and durable outdoor furniture which in turn is seeing a massive increase in sales; the market is expected to be valued at almost $30 billion by 2030 and witnessing a CAGR of 6 percent.
Whilst its primary purpose is functionality, investors and operators strive to create an appealing aesthetic for their hotels and resorts; from intimate, cosy lounges to open-plan spaces, the furniture chosen creates a lasting first impression. Introducing integrated resorts in Ras Al Khaimah, and possibly later in other emirates, provides vast opportunities for architectural, interior design and furniture design industries.
The outdoor furniture market in general has been staggering and unprecedented across regions and markets, fulfilling the need to spend more time outdoors. In addition to aesthetics and functionality, outdoor furniture is tasked to withstand unforgiving climatic conditions by resisting corrosion, fading from the sun, water exposure and the wear and tear expected from a busy hotel or integrated resort, especially those harsh weather conditions of coastal UAE areas.
The rise in expected standards has prompted furniture designers and their brands to upgrade their offerings encompassing fashion and luxury. Many manufacturers are already shifting their focus to crafting environmentally-friendly, durable furniture which doesn’t harm even the most fragile ecosystem.
New resorts provide a great opportunity for furniture providers across the UAE with premium collections of luxury outdoor furniture brands. Choosing locally-grown suppliers with an intricate knowledge of the market, strong networks and relationships within the region ensure that such mega-resorts will stand out from the crowd.
By providing useable customised and innovative furnishings for their guests’ comfort, their outdoor furnishing partners will highlight the service offerings of the integrated world-class resort, making it a truly memorable experience.
The Middle East is expected to witness noticeable growth due to the changes in demand for luxury, high-quality products. The global market is expected to grow from $46.21 billion to $66.55 billion by 2028, an impressive compound annual growth rate, CAGR, of 5.3 percent.
Follow us on
