The Straits Times
www.straitstimes.com
Published on Oct 31, 2012
 

S. Korea to build $353b casino city to rival Macau

 
 

SEOUL (AFP) - South Korea's port city of Incheon has teamed up with a group of investors to build a giant US$290 billion (S$353 billion) leisure and gaming destination intended to rival Macau by 2030, the developer said on Wednesday.

The 8City project on Yongyu-Muui island near the nation's main Incheon international airport will feature casinos, hotels, shopping malls, theme parks, car racing tracks, ski slopes and a marina, developer Eightcity said.

Shareholders include luxury hotel operator Kempinski, South Korea's flag carrier Korean Air and Daewoo Engineering and Construction.

Construction at the 80 sq km site - three times larger than Macau - will begin next year and end by 2030, Eightcity said in a statement.