Melco International, the parent company of integrated resort operator Melco Resorts & Entertainment, has won a bid to build a mixed-use development in Zhongshan, a city near Macau, in China's Guangdong province.
Due for completion in 2025, the site will cover 759,000sqm, housing hotels, serviced apartments, wellness centres, shopping malls, residences, offices and a theme park.
Apart from making an entry into the Chinese market through its location in the Greater Bay Area — which enjoys easy access to Macau, Zhuhai, Guangzhou, Shenzhen and Hong Kong — the project is part of the IR operator's strategy to diversify out of non-gaming assets.
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... 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.”
Melco is partnering investment and property development company Agile Group for the Zhongshan project.