Landing International Obtains Building Permits for Myth-History Park Project
Marking Key Milestones on Business Development with
Official Start of Construction Work
(1 February 2015, Hong Kong) Landing International Development Limited (“Landing International” or the “Company”) (HKEx Code: 00582) is pleased to announce that the Company has obtained building permits granted by the Jeju government for its Myth-History Park project (‘‘Jeju Project’’) located at Jeju, Korea based on the current development plan, marking a key milestone on the Company’s development of integrated resorts and tourism properties in global markets. To celebrate such a remarkable moment, a groundbreaking ceremony of the project will be held on 12 February to mark the official start of its construction work.
Located at Seogwangril in Andeog-myeon, Seoguipo City, Jeju, Korea, the Myth-History Park project is jointly developed by Landing Jeju Development Co., Ltd and Genting Singapore PLC (“Genting Singapore”) (SGX code: G13). Covering a total gross floor area of over 2,500,000 square meters, the project will be developed into a world-class mega integrated resort leveraging the unique nature, myths and history of Jeju Special Self-Governing Province and Eurasia as its development concept.
The Company has obtained building permits for part of the site in the project covering a gross floor area of 306,763 square meters of the project, which will be developed into a gaming and integrated resort - “Resorts World Jeju” comprising premium hotels, villa hotel, conferencing and exhibition facilities, gaming facility, theme park, large-scale shopping mall and other entertainment and tourism facilities etc. Building permits have also been secured for another part of the site covering a gross floor area of 132,265 square meters, which will be used for building condominiums, villas, bungalows and other accommodation facilities.
Mr. Yang Zhihui, Chairman of Landing International, said, “Jeju has long been a tourist hotspot in Korea, and the only region in the country with visa-free travel arrangement for individual tourists from mainland China. Being a key project under the spotlight within the country, the Myth-History Park project marks the development of a world-class mega integrated resort in Jeju for the first time, and is expected to attract a substantial number of international tourists and further enhance Jeju’s leading position in Korea’s tourism. The project is an achievement from our cooperation with Genting Singapore and Jeju Special Self-Governing Province, which is expected to turn over a new leaf in the development of Jeju’s tourism, create ample employment opportunities and help promote local economic development. We will continue to work closely with the local government of Jeju in order to accelerate the construction works of the Jeju Project. We believe that the Jeju Project will become one of the most striking integrated resort landmarks in Korea and even the Asia Pacific region upon its completion.”
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