Melco International, the parent company of casino gaming and entertainment resort developer and owner Melco Resorts and Entertainment, has successfully won a tender to construct a non-gaming facility in China.
Alongside its Agile Group partner, the two companies are plotting the construction of a residential, entertainment and hospitality mixed-use complex, which forms part of Melco’s strategy of investing in non-gaming assets.
With a total gross floor area of over 750,000 square meters, the site is located at the heart of Zhongshan, a city in the Guangdong province that is well-connected to nearby cities including Macau, Zhuhai, Guangzhou, Shenzhen and Hong Kong. Melco will jointly develop the site with Agile through a joint venture to be jointly managed by both parties.
The project will include residential, commercial, recreational and entertainment elements, featuring residential complexes, office areas, hotels, service apartments, wellness centers, shopping malls and a theme park. Melco expects the majority of the project to be completed by 2025.
The group believes that the region is “a gateway for global tourism into China,” and has vowed to continue to explore opportunities to invest and leverage its expertise in entertainment and hospitality to contribute to the Greater Bay Area development.
Furthermore, Melco says that it is committed to “being an active participant in the formidable development of China,” and has praised this “important step” regarding the Zhongshan project.
Lawrence Ho, group chairman and chief executive officer of Melco International, explained: “Over the past 15 years, Melco has been creating, developing and operating world-class entertainment facilities in Macau and globally.
“In doing so, we created a distinctive model of integrating quality leisure, culture and entertainment. We have developed incredible brands that have great growth potential beyond our existing properties.
“We are determined to play an active role in the development of the Greater Bay Area, and to leverage the incredible expertise of the group in non-gaming activities.”