Jeju Airest City-Berjaya Jeju Resort

http://www.jejuairestcity.com/en/sub1/sub1_1.asp

Much can be talked about Berjaya Corp-the most undervalued Bluechip now in crazy Bull Malaysia Bursa. It is selling at RM0.50 now market value for Berjaya Corp-it owns Cosway, BJFood-Starbucks,KennyRoogers, BJAuto-Mazda Malaysia, 7eleven Malaysia,BJLand. Today I will talk about BJLand latest mega development planning in Jeju Island, Korea.

Through numerous volcanic eruptions that occurred 1.2 million years ago, Jeju Island is recognized for its unique natural features derived from its geological formation—Mt. Halla, Oreum, Lava Tubes, Gotjawal Forest, etc. Such distinctive features led to the designation as the Triple Crown Winner accredited by UNESCO for the first time in the world to have ever received such prominence, in addition to being designated as one of the ‘New 7 Wonders of Nature’. Jeju is the only resort island located amidst Korea, China and Japan. Upon this crucial geographical potential, Jeju Airest City-Berjaya Jeju Resort will set itself as the ‘Creative Business Leisure City’, where new businesses are created through the act of relaxation. Ideally located on 33 degrees latitude north, Jeju features four distinct seasons, where the concept of ‘Intellectual Resort City' was derived—a concept in comparison to the ‘physical resort cities’ in Southeast Asia. From the motifs of Jeju’s pristine nature, Jeju Airest City – Berjaya Jeju Resort presents a World’s Natural Heritage City where relaxation can be met through productivity and creativity.

What is BJLand planning here?

I see Casino!!

Casino Town

Casino Town will become one of the largest casino facilities in Korea, comprising a casino, 505 keys casino hotel and the largest shopping mall in Jeju. Inspired by the grand Seongsan Sunrise Peak, it will become an icon of Jeju, boosting the local economy and tourism.

 Read some old news:
JEJU ISLAND: Berjaya Land Bhd's (BLand) US$3.2bil (RM9.92bil) Berjaya Jeju Resort will feature the biggest casino and shopping mall in South Korea, along with condominiums, villas, hotels and a landmark building once it is completed.
The first phase to be launched will be its 51 villas and 96 “market walk” units with a gross development value of US$250mil, with prices starting from US$1,000 (RM3,300) per sq ft.

BLand's wholly owned subsidiary Berjaya Leisure (Cayman) Ltd has a 72.6% stake in the project, while Jeju Free International City Development Centre has a 19% stake and Swan Street Partner LLP holds the remaining 8.4%.

On the casino front, Ng said the group was not in a hurry to proceed with the development as presently, the South Korean government had yet to issue domestic casino licences.
The local government of Jeju Island is in talks with the Central Government of South Korea to review the liberalisation of this domestic casino licence. Jeju Island is a self governing province in South Korea.
Meanwhile, for the shopping mall component, BLand intends to develop it on its own and look for a local partner.

Some photos I managed to find from online resources:
2014.5

2014.7.2