Russia’s Primorsky Krai Development Corporation (KRPK) has revealed that development of a new hotel and casino complex located within the Primorye gambling zone will begin in September.
The project is being overseen by construction and project management firm Asia-Invest Group LLC, which first announced plans to invest up to US$34 million into the project back in October 2021. While those plans were delayed due to the pandemic, KRPK announced this week that the project has now been resurrected with Asia-invest Group having received its required building permit.
The first stage of the development is due for completion by 20 August 2025.
“Currently, we are negotiating with contractors for earthworks, laying engineering networks on the site and developing interior design, and the project estimate documentation is also being prepared,” said Alexander Kim, director of Asia-Invest Group.
RKim explained that the main structure would be built between September 2023 and March 2024, followed by the installation of facade panels. Working documentation for the casino itself and design documents for Phase 2 of the complex are currently being prepared.
When Phase 1 is complete, the eight-storey complex will include 80 hotel rooms while the casino will offer 30 gaming tables and 200 slot machines, according to Asia-Invest Group.
The resumption of the Asia-Invest Group’s project comes after two much larger developments in Vladivostok – one by NagaCorp and an expansion project by Tigre de Cristal owner Summit Ascent – were put on hold last year due to uncertainty around the COVID-19 pandemic and the economic impact of the Russia-Ukraine war.
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