Emulating the global entertainment hubs of Las Vegas, Hong Kong and Dubai is the target for a potential new integrated resort to be located in Russia’s Primorsky Kray.
The most southerly of the Russian far eastern territories, known as Primorye in short, has become the target of Ramid Hotels and Resorts, who operates a number of hotels around South Korea, such as the Ramada Seoul Hotel, Icheon Miranda Hotel and Ramada Songdo Hotel, in addition to developing golf facilities around the nation.
In a media release on behalf of Primorsky Krai Development Corporation, which states its main goal as “the implementation of the Primorye Integrated Entertainment Zone development project,” discussions are said to have taken place between Ramid’s president Moon Ben Ha and the region’s governor Oleg Kozhemyako earlier this month.
Amongst the construction of new facilities, the Korean firm states that it could potentially contain a golf course in Primorye in addition to a casino within the integrated resort area.
Kozhemyako states that his regional administration is prepared to consider such projects from Korean investors for implementation in Primorye: “We have good relations with the Republic of Korea, many tourism projects are developing, including in the field of hotel business.
“We are ready to go forward and offer favourable conditions for both the maritime business, and the Korean side”.
WIth a memorandum of understanding having already been prepared, both the Korean and Russian organisations are said to be ready to participate in the drafting of legislative conditions for the tourism development, which it is hoped will be “at the level of recognised world entertainment centres – Las Vegas, Hong Kong and Dubai”.
Approving the proposition, Kozhemyako stated that discussion could continue after technical requirements are ready and level of investment is determined, adding: “For the implementation of these projects, based on your proposals, we are ready to provide land plots. We have regimes of territories of advanced development and the free port of Vladivostok, which you can also use”.
Ramid could become the third South Korean firm to begin developments in the region following K International, which intends a build a $300m gambling and entertainment complex, and Dongnam Industry, whose $30m investment is also set to include a golf course within the territory.