Melco International, in partnership with Agile Group, has won a bid for a mixed-use complex at Zhongshan, Guangdong province, the firm announced in a press release yesterday.
The two companies plan to develop a mixed-use premium residential, entertainment and hospitality complex in the city.
According to Melco, the site is located at the heart of Zhongshan with total floor area of over 750,000 square meters. The two companies will develop the site through a joint venture to be managed by both parties.
“Melco is committed to being an active participant in the formidable development of China, in particular the Greater Bay Area, and is pleased to take an important step towards the long-term planning and development in Zhongshan through this project,” the statement read.
Melco said that the Zhongshan project is part of their strategy to invest in non-gaming assets. The new project will include residential, commercial, recreational and entertainment elements, featuring residential complexes, office areas, hotels, service apartments, wellness centers, shopping malls and a theme park. They expect the bulk of the project to be completed by 2025.
Lawrence Ho, group chairman and CEO of Melco International said, “Over the past 15 years, Melco has been creating, developing and operating world-class entertainment facilities in Macau and globally. 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.” Staff Reporter
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