The city of Wakayama has become the first in Japan to select an integrated resort developer, with Canadian private equity group Clairvest chosen to construct a facility, while Yokohama has narrowed its potential partners to two.
Clairvest, via its Clairvest Neem Ventures subsidiary, was the last business standing in the tender process, after SunCity Group announced last month that it was to withdraw.
Should the site, in the city’s Wakanoura Bay, be selected to host one of Japan’s three integrated resorts, Clairvest will construct a 569,000 square metre facility, of which 38,000 square metres will be a gaming floor.
The property will also include a large conference hall, taking up approximately 45,000 square metres, as well as a number of facilities such as a Japanese heritage museum, restaurants, an esports facility and an urban sports park. It will also be able to accommodate 2,700 guests.
Designed to be a “floating city”, it is described in documents released by the prefectur..