Primorye picks up development pace

The Russian gambling zone of Primorye, which has not been developing as fast as anticipated, is stepping up its efforts to attract more investors as part of an ambitious plan to almost treble visitor numbers by 2025. The Primorsky Krai Development Corp. (PKDC) is seeking expressions of interest for three plots of vacant land and says it will hold an auction once it receives pre-orders from at least three companies. It has been in talks with groups from Russia and Europe and potential Chinese investors.   The deadline for the expressions is technically August 28, though the company has the right to extend. It says the situation has been complicated as most of the investors so far have been interested in a plot of land currently leased to the Royal Time Group. The development company terminated its contract with Royal Time in June after repeated construction delays of its Phoenix IR. Only...

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