Genting Singapore to develop world-class integrated resort in Korea

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 us$ 2.2 billion. The 2.3 million sqm of land for the integrated development was acquired by Landing Jeju Development from Jeju Free International City Development Center in 2013 with the intention to build a global standard tourism destination.

Yang Zhihui, Chairman of Landing International, stated: “We have long been interested in establishing a presence outside Mainland China. We are excited to form this strategic partnership with our world-class partner, Genting Singapore to develop and operate this flagship project in Jeju Island in the pursuance of an integrated resort, which will herald a brand new experience for visitors and tourists. By leveraging the expertise and experience of Genting Singapore in the gaming and integrated resort development and the Group’s management experience in property development projects, we are confident that the Jeju Project will become another fully integrated destination resort in Asia.”

Genting Singapore’s Chairman Tan Sri Lim Kok Thay said: “We are delighted to have the opportunity to be the first foreign and global operator to develop an integrated resort in Korea. We are confident that together with Landing International, we will create a game changer for tourism development and employment in Jeju island.’’

Genting Singapore’s President and Chief Operating Officer Tan Hee Teck said: “Our investment in Jeju establishes Genting Singapore’s credentials as a pedigree integrated resort developer that builds successful and exciting destinations that are iconic tourism attractions. This project fits well into our growth strategy in our areas of core expertise.’’