NagaCorp to start construction in Primorye

Cambodia casino operator NagaCorp will start the construction of its Naga Vladivostok hotel with a casino and waterpark in the Primorye gambling zone in November, local news website Primamedia.ru reports.

According to the publication, NagaCorp is now preparing to start scaffolding a pile field and laying the foundation for the future hotel. A representative of the state developer of the zone, Sophia Korotina, was quoted as saying that the construction machinery, equipment, and supplies had already been delivered to the site, and first builders had started arriving.

The first phase of the project envisages building a hotel complex, a casino, and a conference hall.

"Four mobile drilling rigs, necessary for piling work, have already been delivered to the site. By the end of October, 30 builders are expected to arrive and in the first ten days on November, when they will receive work permits, they will get down to scaffolding the pile field for the hotel. We expect this work to be completed by the end of December," the spokesperson said.

According to Primorye Territory Development Corporation head Andrei Folomeev, NagaCorp plans to finish laying the groundwork in March 2018 and "does not expect any delays."

NagaCorp previously planned to complete the construction of the hotel complex in late 2018 and to launch it in 2019. Nearly $70 million are allocated for the first stage of the project out the total investments of $350 million.

According to NagaCorp, some 300 workers and several dozen units of construction machinery will be involved in the first phase of the project.

Head of the local tourism department Konstantin Shestakov notes that Naga Vladivostok will feature first non-gaming entertainment facilities in the zone, including an outdoor pool and a concert hall.

"It will be the only facility located on the beach, and this will also help develop beach recreation, yacht trips, parties and many other things," Shestakov notes.

As previously reported, at its first stage Naga Vladivostok will include an eleven-story hotel complex with 279 rooms, as well as a casino and a multipurpose concert hall. The total area of the facility will be almost 55,000 square meters. For comparison, the first four-story hotel complex in the zone with casino Tigre de Cristal has an area of 36,000 square meters and had 172 million dollars spent on its construction.

Latest Intelligence

Latest issue

PATA CEO sees slow recovery, but optimism for future

AGB Podcasts