Landing Jeju groundbreaking Feb. 12

China real estate developer Landing International Development Ltd. has announced that it is to hold a groundbreaking ceremony on February 12 to kick off the construction work of its new casino project ‘Myth-History Park’ on Jeju Island in South Korea.
The developer filed with the Hong Kong Stock Exchange on Sunday evening stating that there will be a groundbreaking ceremony held by its direct non-wholly owned subsidiary Landing Jeju Development Co., Ltd. (Landing Jeju).
According to the filing by the developer, it is permitted by the Korean authorities to develop and construct a gaming and integrated resort occupying a total gross floor area of approximately 306,763 square metres, comprising premium hotels and villa hotel and other conferencing and exhibition facilities.
Following the news release of the groundbreaking ceremony, the shares of the company rose 2 per cent yesterday morning since the stock market opened.
The casino project is a 50-50 joint venture by Landing Int’l and Genting Singapore Plc. The two companies are investing some US$2.2 billion in the project, which targets Chinese gamblers, according to its first announcement of the project in February 2014.
K.L.