Supporting the Chinese Central Government’s development strategy to enhance global trade and regional connectivity
Melco Group strongly supports the Chinese Central Government’s Belt and Road Initiative (BRI) to enhance global trade and regional connectivity. The Company’s Chairman and CEO Mr. Lawrence Ho attended the 2nd Belt and Road Forum for International Cooperation in Beijing, China, with Mr. Melis Shiacolas, Managing Director of CNS Group; the parent company of The Cyprus Phassouri (Zakaki) Limited, which is a member of the Integrated Casino Resorts Cyprus Consortium.
In Cyprus, this consortium led by Melco Group, is developing and will operate the City of Dreams Mediterranean integrated resort as well as the four Cyprus Casinos “C2” satellite casinos.
The attendance of Messrs. Ho and Shiacolas at this prestigious three-day event, which was attended by leaders of approximately 40 foreign governments and 5,000 foreign representatives from 150 countries, is yet another clear signal of the parties intent that the ‘City of Dreams Mediterranean’ integrated resort development will further elevate Cyprus as a top global leisure and business travel destination in both the region and internationally.
Mr. Lawrence Ho, Chairman and Chief Executive Officer of Melco, said, “Melco is fully supportive of the Chinese Central Government’s Belt and Road Initiative as a strong catalyst to enable businesses to seize international trade development opportunities not only in the Greater Bay Area but also in Cyprus which is strategically located between Europe, Asia and Africa and is primed to play a major role in the on-going Belt and Road Initiative.
City of Dreams Mediterranean will become Europe’s largest integrated resort when it opens in 2021 and will not only benefit the overall economy of Cyprus, but also importantly will help advance the objectives and goals of the Belt and Road Initiative, including infrastructure connectivity, cultural exchanges and understanding.”
He added, “We look forward to continuing our pace-setting commitment to build sustainably and develop integrated resorts with local partners in Macau and beyond; to invest in extraordinary architecture and design, provide MICE facilities and world-class, award winning services; all to create the most sophisticated and memorable experiences for our premium travelers from around the world, whilst contributing to each individual local government’s development goals.”
Located in western Limassol, City of Dreams Mediterranean is expected to open in 2021 according to the current timetable. A world-class development, a landmark for Cyprus as well as for the wider region, the integrated resort is set to enrich Cyprus’ tourism landscape, attracting an additional 300,000 visitors annually with an aim to significantly combat seasonality as well as providing close to 4,000 local job opportunities during the construction phase and approximately 2,500 jobs once it is fully operational.