Chinese group of companies eye Primorye

Tuesday 13th of December 2016

A group of Chinese companies, Guo Wei have expressed interest in investing in the Primorye gambling zone, according to the Primorye Territory Development Corporation.

The delegation reportedly visited Vladivostok on Tuesday, and were shown the Tigre de Cristal casino, as well as land lots of other investors, where construction works are currently under way.

The head of the Chinese delegation, Mr Shi, said that the Primorye resort is of great interest to them due to its investment potential.

"We are considering the Primorye gambling resort to be a promising tourism-oriented investment project. For Chinese tourists this place will be especially interesting due to its good transport accessibility and availability of gambling. We plan to build a casino and a thousand-room hotel, as well as create a recreational park area and a yacht club on the bay. We are pleased that there is an opportunity to carry out construction works all year round, so we are primed for early results," he said.

During the talks, the sides agreed that the Chinese holding company will be included in the ranks of potential investors. Further details will be discussed in future meetings.

Primorsky Territory Development Corporation Director General Andrey Folomeev however noted that the potential investors are required to follow certain procedures.

"Potential investor must take part in the auction for the right to lease the land and then defend their design project of future facilities before the working group of the resort. After concluding the investment agreement the Corporation undertakes a commitment to create all the necessary engineering and transport infrastructure," Folomeev said.

According to the statement, Guo Wei is based in Beijing and invests in large-scale tourism projects, including cultural tourism facilities, sports facilities, and hotel infrastructure. One of their successful investments include the Beauty Crown hotel in Sanya, Hainan Islands.

Bricks & Mortar Investor Primorye