After earlier this year finalizing a deal to take full control of the under-construction Jeju Shinhwa World integrated casino resort in South Korea, Chinese real estate firm Landing International Development Limited has now reportedly opened the Jeju Island scheme’s condominium development.
According to a report from GGRAsia, the 344-unit Somerset Jeju Shinhwa World is being operated by The Ascott Limited, which is a subsidiary of Singapore-based CapitaLand Limited, and has been designed to appeal to leisure and business travelers and their families. Each of the development’s three-bedroom condominiums offers a well-equipped kitchen as well as separate living and dining areas, a balcony, a wine chiller, a washing machine, a dishwasher and a centralized home automation system while guests can also take advantage of a nearby gymnasium and sauna.
To further increase its appeal, Somerset Jeju Shinhwa World, which is located about a 40-minute drive from Jeju International Airport, additionally has a clubhouse, a restaurant offering international cuisine and a large outdoor play area for children with guests moreover able to take part in its Ascott Lifestyle program in order to experience a host of local cultural, gastronomical, community and wellness activities.
“With [our] experience in operating award-winning serviced residences globally and in [South] Korea, this is an exceptional opportunity for us to open the first international-class property on Jeju Island,” read a statement from Max Phillips, South Korea General Manager for The Ascott Limited. “As Jeju [Island] is popular with domestic and global travelers, there is strong potential for Somerset Jeju Shinhwa World, which provides the comforts and privacy of home with world-class services.”
Previously known as Myths And History Park and then Resorts World Jeju, Jeju Shinhwa World is set to occupy some 617.7 acres of land and feature an amusement park with 20 rides spread across seven zones as well as multi-purpose convention facilities and an around-the-clock casino open only to non-South Koreans. Hong Kong-listed Landing International Development Limited previously revealed that its Jeju Island development is to moreover offer a water park and a 2,000-room hotel alongside a spa, a retail quarter and extensive food and beverage facilities.
“With our Somerset [Jeju Shinhwa World] property being part of the Jeju Shinhwa World integrated resort, our guests and their families will enjoy numerous entertainment, retail and food and beverage options,” read the statement from Phillips. “For guests who wish to stay over in other popular destinations like Seoul and Busan besides Jeju [Island], they can be assured that they will experience consistent [and] quality The Ascott Limited hospitality.”
Due to be fully completed by the end of 2019, Jeju Shinhwa World was the brainchild of Asian casino giant Genting Singapore in partnership with Landing International Development Limited. The latter already operates the foreigners-only Landing Casino inside the nearby five-star Hyatt Regency Jeju Hotel while January saw it pay $421.76 million in order to buy out its partner’s remaining interests in the coming Jeju Island development.
“Somerset Jeju Shinhwa World is the first international-class fully-serviced resort condominium on Jeju [Island], offering 344 units of three-bedroom resort condominium units with thoughtfully furnished and designed interiors,” read a filing from Landing International Development Limited.