Suncity Group has opened its new Wakayama office from which it will base its Japan IR bid.
Suncity Group Holdings Japan Ltd has opened its new office in Wakayama as it ramps up its bid to develop one of Japan’s first integrated resorts.
The newly established office, measuring 354 square meters, is described as a promotion base for Suncity’s bid and will “carry out various activities that lead to the activation of Wakayama,” the company said.
It will also act as a resource for local residents by offering a public café and a community event space where Suncity plans to host seminars addressing gambling addiction and various events such as a “Revitalization Ideathon.”
Visitors can view concept videos and a scale model introducing Wakayama IR2.0 in an easy-to-understand manner when visiting the office, Suncity explained.
With a budget of between US$3.9 billion and US$4.5 billion, Suncity’s IR2.0 would offer 2,600 rooms and villas, restaurants and a sky lounge, hot springs and spas, a substantial exhibition venue, indoor sports facilities and boat tours to nearby coastal towns and tourist attractions.
“Unlike other competitors, what we focus on is not what we can bring to Japan, but to present Japan to the world – hence the IR2.0 concept,” the company told IAG earlier this year.
“We intend to build a world-first IR2.0 that focuses on the characteristics of Wakayama and brings together all the historical traditions, natural landscapes and culture of the region, which are different from the traditional IR model.
“IR2.0 is not about what the operator is willing to offer to the market, but rather to focus on the local culture, presenting the features and advantages of the location to the world.
“Wakayama has unique natural resources, rich cultural, historical and traditional features. Suncity Group has expanded its business to 26 cities in 16 countries. It has deep research and understanding of IRs in various countries.
“We are very confident that we can utilize our own resources, networks, advantages and experience in resort management and show the world a diversified Wakayama.”
Suncity Group is one of two companies, alongside Canadian investment firm Clairvest Group, to have responded to Wakayama’s RFC in April. Wakayama prefecture recently announced that it had extended the deadline for operators to submit material as part of the RFP process by almost two months, from 31 August to 19 October, due to the impact of COVID-19. Its operator selection timeline was also pushed back from November 2020 to January 2021.
