New international business centre to be built in Korea

New international business centre to be built in Korea

Paradise Group has been awarded a two-phase development contract for the International Business Center-1 zone at Incheon International Airport, Korea. The Busan-based developer will build an integrated resort complex consisting of foreigners-only casinos, convention centres, and luxury hotels in the zone, located south of Incheon’s passenger terminal. Costing US$572 million, the integrated complex will also function as a medium for promoting Korean classical culture, pop culture and the arts.

According to The Moodie Report, a 500-room luxury hotel, foreigners-only casino, shopping mall, officetel (a Korean combination of office and hotel), and a street of arts and culture will be completed during phase one, which will last until 2016. Phase two will see an additional 250-room deluxe hotel, performance and exhibition hall, convention centre, spa and business complex built by 2018. The Golden Gate Casino, a local casino operated by Paradise Group at Hyatt Regency Incheon, will also relocate into the resort. As for transport, the resort will also host a train station that offers a magnetic levitation train service to the terminals.

Mark Elliott
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