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Biz News Korea(Eng)
China’s LongRunn to build $4 bn resort district in Yeongjong near Incheon airport
- Collected
- 2018.02.12
- Distributed
- 2018.02.13
- Source
- Go Direct
According to the Incheon Free Economic Zone Authority on Sunday, LongRunn International Group has signed a contract with Incheon Development & Transformation Corp to purchase a space of 76,000 square meters in Midan district of Yeongjong Island, at 87.1 billion won.
The Chinese developer plans to create a multi-purpose resort complex dubbed LongRunn Diamond City that includes a luxury hotel, residences, condos and shopping facilities at an initial investment of about 1 trillion won. It will expand the area to 199,000 square meters to build a large-sized resort complex by investing a total of 4.5 trillion won.
LongRunn International Group has been involved in various infrastructure and energy projects in China, Australia and Indonesia.
By Ji Hong-goo and Lee Ha-yeon
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