Selena World Resort is one of four integrated resorts being developed in the Primorye Integrated Entertainment Zone (IEZ) near Vladivostok, in the Asian portion of the Russian Federation. The property will feature shopping and retail centers, guest villas, theme parks, and world class, state of the art hotels designed by the award winning Steelman Partners whose work can be seen in more than 4,000 casinos and resorts around the world.
Diamond Fortune Holdings’ fully integrated entertainment resort will be completed in phases. Phase one, expected to open in late 2016 and early 2017, is located on 20 hectares of land on two lots and will be comprised of a 5 star hotel, health and spa facilities, gaming, and restaurants. Phase two of the project is expected to begin by 2018 and will be on three land lots comprised of a theme park and a hotel with an additional casino. The project’s final phase in 2021 will include a 7 star hotel with private villas. The resort will also have a yacht club and beaches around the Cherepashye Lake.
Selena World Resort & Casino is located on prime real-estate at the entrance to the IEZ. The Primorsky Krai Development Corporation is supervising the development of all four resorts within the territory of the Artemovsky urban district, near Cherepaha Cape on Murav’inaya Harbor approximately 50km from Vladivostok . The Russian government created the zone in 2009 in hopes of strengthening economic and cultural cooperation with other Asian countries, given its strategic location, and to be a showpiece for the Russian Administration by becoming a world-class entertainment resort destination.
Approximately 15km (9.3 miles) from the IEZ, Vladivostok International Airport has direct flight connections with Japan (Tokyo), Korea (Seoul, Busan), and China (Beijing, Mudanjiang, Yanji, Harbin, Dalian, Hong Kong), among others. Vladivostok’s recent designation as a “free port” also means that certain access points, including land entries by Chinese tour buses, as well as the airport could become visa-free for many visitors. The direct market for the IEZ is expected to be as many as 300 million people including Russian visitors.
The current estimated cost of Selena World’s development is US$914 million which will make it the IEZ’s largest investor upon full completion. The deadline for the final stage of approximatly 305,000 square meters of development on Diamond Fortune’s 769,053 square meters of land holdings is December 31, 2021.
In addition to the Selena World Resort, other developments in the IEZ are Summit Ascent Holding’s (Melco International) Tigre de Cristal, who announced an October 8 soft opening and is the only development that won’t be designed by famed Las Vegas architects and designers Steelman Partners; NagaCorp’s Primorye Entertainment Resort City (which may become known as “Seaside”) whose ground breaking ceremony was in May and is slated to open no later than 2018, and the former Azov City casino operator, Royal Time Group’s integrated resort “Phoenix” that planned excavation at their site for this summer.