Genting Breaks Ground On Resorts World – In Korea

A ground-breaking ceremony took place today (February 12) for Resorts World Jeju, a destination resort in Korea being developed by Genting Singapore.

The project will include a casino, along with over 2,000 hotel rooms, 1,500 residences, a theme park, and conference space. Originally announced as a $2.8 billion project, it is now being billed as costing $1.8 billion.

The governor of Korea’s Jeju province had threatened to cancel the project after learning of Genting’s intention to include a casino, which hadn’t been originally included in the plans. Eventually, Genting managed to have the casino approved, but it will be targeted mainly to Chinese, since Koreans will not be permitted to enter.

In the U.S., Genting Malaysia Berhad’s plans to break ground on the $4 billion Resorts World Las Vegas have been delayed since purchasing a property on the Las Vegas strip in 2013 for $350 million. The company hopes to break ground in Spring.

In Miami, the most recent development has been approval for a replatting of 5.7 acres where demolition of the former Miami Herald building is now stretching into month 18. On the Resorts World plat, Genting wrote that the intended use of the property would be residential, lodging, office and commercial use.

 

 

(proposed resorts world las vegas)

 

 

22 Comments
most voted
newest oldest
Inline Feedbacks
View all comments
Dan
5 years ago

I like the original plans for Resorts World Miami.

I hope one day it comes to reality.

Anonymous
5 years ago

Don’t hold your breath.

Edin Coralic
5 years ago

It’s all about CASINO.Genting won’t bild anything there without gettin Casino approved, so since we have already casinos everywhere around,let them bild another one,big one,one which can accommodate all these tourists AAF will bring here from Orlando,Palm Beach,Port Everglades…Let’s move on Miami,stop talking,let investors invest money,big money,let’s build that METRO to Miami Beach,let’s build city Miami deserves to be,world class city like Singapore, Hong Kong,Dubai..We have to think BIG.

joey
5 years ago

I think you are missing a few U’s…

marc
5 years ago

What other cities in the US have destination casinos in its urban core or downtown? The casinos that are all around down here are situated away either in crappy parts of town or the outskirts.

miami1
5 years ago

Ugly, looks like a soviet style housing. Is it for North Korea? 🙂

Gregory
5 years ago

I thought the same lol

XVS
5 years ago

I can see why some people in Miami want Genting out of town. Poor Korea is “genting” screwed.

marc
5 years ago

They just need to sell and get out of town.

Obviously
5 years ago

Typical Miami. Other places let developers deliver while people in Miami whine bitch moan groan and hassle developers over senseless BS which does nothing but cause vacant weed strewn lots to sit undeveloped for another five to ten more years.

Dave
5 years ago

This post is senseless BS. If they put the site up for sale there would be a line down the block with developers trying to buy the property to actually build on it. This isn’t 1995. Miami doesn’t need to bend over and take what every developer is shoveling.

Obviously
5 years ago

Your remark to my post is confusing. Are you against Genting’s casino resort proposal or are you for it? If you’re against it, then you are in agreement with some of these other commenters and because of the typical whiners in Miami we’ve seen quite a bit of proposals get shelved and developers take their money and flee to build in some other city. The more the price of a lot goes up the pricier it gets to build anything on that spot. If the Genting Group were to put the Miami Herald site up for sale, how much do you think the asking would be? My guess would be in the range of 325 to 400 million dollars. Do you realize how much building it would take to recoup from that or the amount of money it would take to finance that much construction? And because of these things that property would sit vacant for years and years to come. Your assertion that “there would be a line down the block with developers trying to buy the property to actually build on it” is delusional and poorly thought out BS.

Anonymous
5 years ago

I’m glad so far we’re being spared from one of these themed monstrosities.

Obviously
5 years ago

While we get to stare at what, nothing?…just the agonizingly slow demolition of the old Miami Herald building?

marc
5 years ago

Is it really affecting you that much?

Obviously
5 years ago

Is Genting owning property in Miami really affecting you that much?

marc
5 years ago

Not in the least. There’s plenty of other developments rising or about to rise all over town that have me excited and I’m not losing any sleep over that patch of rocks right now. Obviously, duh.

Jz
5 years ago

What’s up with the post criticism? Few cities draw major multinational development enterprises like Miami does. Incorporating this kind of information into the local development news context builds on the broader theme of Miami’s emerging role as a global powerhouse city by addressing the macro forces, in this case Genting, that might shape its future.

John
5 years ago

That is all good and dandy. Lets just hope Miami doesn’t allow them to build a monstrous eye sore for the sake of “international” development.

Jz
5 years ago

No doubt.

Anonymous
5 years ago

Genting should move to Korea with his casinos and All the low Life that comes with that.

The city should by that land by eminent domain, and built the best PUBLIC SCHOOLS of the county there. The area needs that. The young executives occupying all the new apartments of Brickell, need good public schools there. And the city should pay for that with all the Property Taxes that it charges.

What currently exists in the area it’s a joke. That’s why people has to move to KB or the suburbs making traffic a bigger problem.

If we spend more than $1B building the tunnel, or are considering one bridge design vs another that cost $300-400M more, why we don’t purchase that land and build with those 300M the best public schools of the county next to the Museums, the Opera, etc?. Tax payers need that. The city needs that.

Future generations will be better off with good public schools than with casinos.

Anonymous
5 years ago

There is a real unattended population of starting families with sensitive budgets in DTWM Mia, Edgewater, Park West, Brickell that will benefit with this.

The proposed bridge has an “estimate” cost of $600M. Can we invest $600M in acquiring this land and building the best Public Schools?.

We sent Genting where they belong and invest in the future generations of our city.