Melco International, the Hong Kong-listed parent company of Macau casino operator Melco Resorts, has decided to step across the border by investing in a non-gaming project in Zhongshan. In a joint venture with Hong Kong-listed property giant Agile Group, Melco will build and operate a theme park within the development, which is a “premium residential, entertainment and hospitality mixed-use complex,” carrying an initial investment of 4 billion yuan in the land.
The land plot in Zhongshan covers an area of approximately 504,000 square metres (5.43 million sq feet), and includes various plots with land-use authorisations ranging from 40 years to 70 years, depending on specific utilisation, according to a separate filing to the Hong Kong bourse.
Although fellow gaming group Galaxy Entertainment has a plot of land in neighboring Hengqin, a special zone known as a New Area, it has not yet started work on the project. Melco would be the first of Macau’s gaming license-holders to open an operate a resort on the mainland once the project is completed in 2025.
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