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"The Osaka government has announced that the integrated resort project in Osaka's Yumeshima is undergoing land preparation work for MGM. According to The Japan Times, Governor Yoshimura Hirofumi revealed on Monday that the first batch of concrete pouring is underway to prevent land liquefaction and reinforce the foundation of the land to be developed for the MGM IR. This project is expected to continue during the upcoming 2025 Osaka Expo and is scheduled to be completed by April 2027, with a total investment of ¥25.5 billion (approximately $173 million).
The completion and opening of the IR project have been delayed until 2030, a one-year delay from the original plan. The development costs of the project have reportedly increased by approximately $1.3 billion due to the rise in building material prices.
In September, MGM International Hotel Group and local partner Orix Group signed an Osaka IR development implementation agreement, laying the foundation for the construction of the project.
Upon completion of the integrated resort, it is expected to offer 2,500 hotel rooms across three different brands. Additionally, it will feature a 730,000 square feet exhibition space and tourism facilities, showcasing the unique charm of Osaka and Japan.
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Post time 12-12-2023 23:23:43