Landing International Development and Genting Singapore are entering into a joint venture to develop and operate an integrated resort in Jeju Island, South Korea.
The destination will be Jeju Island’s largest tourism resort to date, with luxury hotels, a shopping mall, a theme park, villas and apartments, as well as gaming entertainment and other leisure and entertainment facilities.
Landing International and Genting Singapore will jointly own, manage and operate the integrated resort when it opens progressively from 2017.
The total estimated cost for the integrated development is approximately $2.2bn.
“We are delighted to have the opportunity to be the first foreign and global operator to develop an integrated resort in Korea,” said Genting Singapore’s chairman, Tan Sri Lim Kok Thay. “We are confident that together with Landing International, we will create a game changer for tourism development and employment in Jeju island."
