Melco International wins joint bid to develop non-gaming, mixed use complex in Zhongshan, China

Melco International Development Ltd, the parent company of international IR operator Melco Resorts & Entertainment, has won a joint bid with Hong Kong-listed Agile Group to develop a multi-billion dollar mixed-use residential, entertainment hospitality complex in Zhongshan, Guangdong Province.

The project, to be mostly completed by 2025, will cover a gross floor area of 750,000 square meters in the heart of Zhongshan, located just north of Zhuhai. It will feature residential, commercial, recreational and entertainment elements, including residential complexes, office areas, hotels, serviced apartments, wellness centers, shopping malls and a theme park.

Melco said Wednesday that the development, to be jointly managed by Melco and Agile, was part of its strategy to invest in non-gaming assets while being an active participant in the formidable development of China, particularly the Greater Bay Area. The company added that it plans to leverage its successful intellectual properties created in Macau into the development and management of the theme park, restaurants and other hospitality facilities in the complex.

Melco owns and operates integrated resorts City of Dreams, Studio City and Altira in Macau, City of Dreams Manila in the Philippines and is developing City of Dreams Mediterranean in Cyprus, slated to open in late 2022.

It is also one of two remaining contenders to partner with Yokohama in its pursuit of an IR license in Japan.

“Over the past 15 years, Melco has been creating, developing and operating world-class entertainment facilities in Macau and globally,” said Melco’s Chairman and CEO, Lawrence Ho.

“In doing so, we created a distinctive model of integrating quality leisure, culture and entertainment. We have developed incredible brands that have great growth potential beyond our existing properties.

“We are determined to play an active role in the development of the Greater Bay Area, and to leverage the incredible expertise of the group in non-gaming activities.”

The development ticks a lot of boxes for Melco not only by expanding its non-gaming offerings into Macau’s largest feeder market of Guangdong Province but also supporting the mainland government’s expansion initiatives across the Greater Bay Area.

The post Melco International wins joint bid to develop non-gaming, mixed use complex in Zhongshan, China appeared first on IAG.

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