A development company has announced plans for an ambitious 31-square-mile leisure and gaming destination in South Korea’s Incheon city, according to Bloomberg. Developer Eightcity Co.-which counts Kempinski AG, Korean Air Lines, and Daewoo Engineering & Construction Co. among its shareholders-will build the $290 billion project over the next 18 years.
Called 8-City, the development will be three times the size of Macau and target Japanese and Chinese tourists. It calls for hotels, casinos, performance halls, malls, a marina resort, and Formula 1 race track. The astronomical cost will include land, construction, infrastructure, and compensating island residents.
