The Primorskiy Territory Development Corporation held negotiations with representatives of the Korean company K International Inc. The investor is interested in building a hotel and entertainment complex with a casino, a shopping center, a Duty Free zone and a park zone.
To date, there are 48 hectares of free sites for the implementation of investment projects in the territory of the entertainment resort “Primorye”. Since 2017 the Primorskiy Territory Development Corporation has been actively searching for new residents and is negotiating with companies from Asia and Europe.
The general director of the corporation Igor Trofimov said that the Korean company has been showing interest in the project for a long time.
“We have been negotiating since the beginning of this year. The company sees the prospect, accepts the terms of cooperation and is ready to move to signing the contract. They consider a 20 hectare site for the implementation of the project - there is a fairly flat landscape, it is near the road leading to the main road and on the border with the zone of perspective development, where after 2022 other recreational facilities will be created, for example, a golf course and historical park,” - the head of the corporation said.
Vice President of KI Lee Dong Taek said that the partners plan to build a hotel complex with a casino and a shopping center with a Duty Free zone. It is planned to build a promenade area.
By the end of November this year the company expects to finish work on the design project and submit it for approval to a working group headed by the Vice-Governor Andrei Larin. After that, the company will be ready to apply for participation in the auction to obtain the right to sublease the land.
According to Lee Dong Taek, K International Inc. along with subsidiaries of the largest Korean corporations will become part of the holding, which will include all persons interested in building the facility on the territory of Primorye. The total investment in the project will be at least 18 billion rubles.
According to the Vice-Governor of the region Andrei Larin, the regional authorities are most interested in implementing the plan for the development of the Primorskiy Territory.
“This project is of great importance for the social and economic development of the region. We are aimed at creating the most comfortable conditions for the work of investors and are ready to provide comprehensive support to our partners implementing tourism projects in the region,” - the deputy head of the region said.
We remind that to date the integrated entertainment resort “Primorye” is the most ambitious tourist project in the Far East. At the moment, a casino with the Tigre de Cristal hotel is open, three more large projects are under construction - Naga Vladivostok, Selena and Sun. In addition, a new resident of the Primorskiy Territory, Shambala, is working on its project. It is assumed that in general at least 12 hotels with restaurants and casinos, as well as entertainment facilities will be created in the gambling zone. The implementation of the project will create at least 6,000 additional hotel rooms and more than 20,000 jobs.