Incheon Muui Solair Complex Resort Development Accelerates... Implementation Plan Application in Second Half of Year

Investment of 500 Billion Won by 2027... Development of Ocean View Hotel and Water Park

Perspective view of Muui Solair Complex Resort [Provided by Incheon Free Economic Zone Authority]

[Asia Economy Reporter Park Hyesook] The development project of the 'Muui Solaire Complex Resort' in Yeongjong International City, Incheon Free Economic Zone, is gaining momentum.

The Incheon Free Economic Zone Authority announced on the 30th that Solaire Korea Co., Ltd., the project operator of the Muui Solaire Complex Resort, plans to apply for approval of the implementation plan to the Incheon Free Economic Zone Authority in the second half of this year.

Solaire Korea aims to obtain approval for the implementation plan in the first half of next year. Since starting the detailed design service in March, it is currently preparing architectural and civil engineering designs as well as various impact assessment reports.

This project, covering an area of 440,000㎡ around 705-1, Muui-dong, Jung-gu, Incheon, near Silmido Beach, is a leisure and resort-oriented complex resort based on Silmido and the surrounding beaches. Plans include creating an ocean-view hotel and recreational facilities such as a water park utilizing the natural environment of the West Sea sunset and mudflats.

In particular, the opening of the Muui Bridge (Jamjindo~Muui Island) in April last year and the completion of the embankment road expansion between Yongyu and Jamjindo last month have improved accessibility and transportation infrastructure in the Yongyu-Muui area, giving a boost to the project.

Solaire Korea, the project operator, is a company established with 100% investment by Bloomberry, the third-largest business group in the Philippines, which developed and operates 'Solaire Resort and Casino' and 'Sky Tower' in the Philippines. To build the Muui Solaire Complex Resort, it first purchased 330,000㎡, which is 75% of the project site, in 2015 and reported $500 million in FDI (Foreign Direct Investment).

Bloomberry plans to invest 500 billion KRW in the first phase by 2027 and 1 trillion KRW in the second phase out of the total project cost of 1.5 trillion KRW for the complex resort.

Upon completion of the Muui Solaire Complex Resort development project, the Incheon Free Economic Zone Authority expects it to significantly contribute to creating tourism demand by attracting transit passengers and promoting foreign investment, leveraging its geographical proximity to Incheon International Airport.

An official from the Incheon Free Economic Zone Authority stated, "We will steadily promote the Muui Solaire Complex Resort development project to establish a complex resort with competitiveness centered on marine culture and tourism leisure in the Yongyu-Muui area.".

This content was produced with the assistance of AI translation services.