South Korean company K International Inc. may become a new resident of the Russian gambling zone Primorye. The investor’s project was discussed by The Primorsky Krai Development Corporation.
The South Korean company is interested in an area of 20 hectares located in the gambling zone. At this moment, the investor wants to build a complex with a casino, a shopping center with a Duty Free zone and a walking area.
Negotiations started in early 2018. The latest meeting was held on August 22. By the end of this year, the investor wants to finish the development of the design for the future project and submit it for approval by a work group headed by the Territorial Vice-Governor Andrei Larin.
The total volume of investments will be more than 18 billion rubles. The Primorsky Krai Development Corporation noted that they continue to search for investors for vacant areas of land.
Russian gambling zone Primorye currently hosts Tigre de Cristal casino. Three more big projects are under construction, namely Naga Vladivostok, Selena and Sun. In addition, a new resident of the gambling zone, Shambala, is working on its own project. It is expected that at least 12 hotels with restaurants and casinos will be built in the Primorye gambling zone.