Primorye IEZ to acquire more land

The Primorye Integrated Entertainment Zone (IEZ) will expand further by the end of this year, as the Primorsky Krai Development Corp (PDC) will complete the leasing of earmarked land plots for the purpose by the end of 2018.

“We hope to lease all of the land plots [in phase one] by the end of this year,” said PDC director general Igor Trofimov. All the remaining six land plots are likely to be taken by the private investors on lease before 1 January 2019.

“We are just waiting for some documents so that we move forward with the payment and finalise the investment agreement and lease contract,” the official said and added: “The announcement should be made shortly.”

Trofimov added that they are “in negotiations with Korean companies and NagaCorp, with which they are actually finalising negotiations,” and explained: “However, depending on the number of companies interested in these plots, we might launch one more auction.”

The Primorye IEZ could become a major hub of casino operators over the next few years.