Osaka, Japan Governor Hirofumi Yoshimura has announced that a complete proposal for the prefecture’s planned integrated resort (IR) bid will be available by the end of the year.
A consortium led by MGM Resorts and Orix Corp. was officially selected as Osaka’s IR operator on September 28. They plan to develop and operate an IR on Yumeshima Island by the late 2020s at an estimated cost of around US$10 billion.
“We believe we can achieve a growth IR with the highest standards in the world,” the governor 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 plans 2,500 hotel rooms across three hotel brands, plus 730,000 square feet of MICE space and tourism facilities to showcase the best of Osaka and Japan. The full plan must be submitted to the national government by April 28, 2022.
