Article Image
News Link • Economy - International

South Korea's Insane Plan To Build A $290 Billion Resort To Rival Macau

• http://www.businessinsider.com, Adam Taylor
AFP reports that the building is planned for Yongyu-Muui island near the nation's main Incheon international airport, and is being funded by luxury hotel operator Kempinski, South Korea's flag carrier Korean Air and Daewoo Engineering and Construction.
 
The resort is a clear attempt at courting Chinese gamblers who would otherwise be going to Macau (the name, 8city, refers to the lucky Chinese number of 8), but will it actually happen?

It's clearly an incredibly audacious project (the Burj Khalifa and the entire development around it cost $20 billion). One article in Yonhap News pointed out that the money raised so far (around $3 billion) wouldn't even cover half the estimated cost for land compensation.

If the plan actually does go ahead, it should be completed by 2030.

Join us on our Social Networks:

 

Share this page with your friends on your favorite social network:


Purse.IO Save on All Amazon Purchases