Construction Finally Set to Begin on Osaka Integrated Resort
Despite numerous delays, including a winning region and developer only being recently chosen, Osaka remains confident about the success of its integrated resort project.
Construction is finally due to begin on the project, and it is expected to be finished by 2030. Governor Hirofumi Yoshimura has said that he is confident that there will be no more disruptions and that the project will succeed.
It was originally hoped that the resort would be ready to open in 2025, when the Osaka-Kansai Expo is taking place. However, the completion date has been pushed back by several factors, including the withdrawal of bidders, the COVID-19 pandemic, and a number of accusations of bribery within Japan.
ansai is an area very deep in history. Traditional Japanese culture is something you don’t get in Macau, Singapore, or South Korea. And those unique points are what we will promote from the resort.
The resort will be built as a partnership between Orix Corp, a Japanese company, and MGM Resorts International. While the cost has not been finalized, it is thought that it will be in the region of $10 billion.
Japan has been eager to get this project underway, as it is widely believed that it will bring an economic boon. It is predicted that the resort will have a big impact on tourism and the economy, just as similar projects have in places such as Singapore.
The fact that a number of companies pulled out of the race shows that not everyone shares this belief. However, should MGM Resorts International be proven correct and the resort a success, then there is sure to be intense competition for the second integrated resort license in Japan.
What Are the Implications for Osaka?
Overall, the construction and eventual operation of the integrated resort in Osaka hold the potential to boost the local economy, attract tourists, and showcase traditional Japanese culture. The successful implementation of the project could position Osaka as a prominent destination for international visitors and create opportunities for further development in the Japanese integrated resort industry.