Osaka governor Hirofumi Yoshimura announced at a plenary session of the prefectural assembly that the prefecture and city’s IR development plan proposal for Yumeshima will be created before the end of 2021.
A consortium led by MGM Resorts and Orix was officially selected as Osaka’s IR operator on 28 September, with plans to open an IR on Yumeshima Island by the late 2020s at an estimated cost of around US$10 billion.
An area development plan to be jointly devised by the consortium and Osaka prefecture and city is due to be submitted to the national government by 28 April 2022 although Governor Yoshimura confirmed his intent to have the proposal ready long before then. He also answered questions around ensuring Osaka’s IR is competitive in the international market.
“We believe we can achieve a growth IR with the highest standards in the world,” he said. “Our development concept is ‘MUSUBI no SUITO’ (the IR will be the base of Osaka’s Aqua Metropolis that connects all things) and will include the largest convention center in Japan, exhibition halls large enough to host sporting events and three overnight accommodation facilities of various grades.
“The Yumeshima Theater will host a rich lineup of live performances while the Kansai Tourism Center will provide a gateway to sites outside of the resort and guests will also be able to enjoy local Osaka and Kansai cuisine on-site. The prefecture and city will work together with the selected operator to confirm and adjust the proposed details and created an attractive development plan that will lead to local economic growth.
“Our intention is to finish before the year ends and we will proceed steadily with the necessary procedures to gain the approval of the prefectural assembly and then apply to the national government.”
MGM Resorts revealed last week that, if granted a license, its Osaka IR will include 2,500 hotel rooms across three hotel brands, 730,000 square feet of MICE space and tourism facilities to showcase the best of Osaka and Japan.
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