However, while construction has been somewhat delayed due to the COVID-19 pandemic, the plan continued, and KRPK decided that now was finally the time to move forward for the long-awaited casinos and hotels. Another reason behind the delay is that Asia-Invest Group has received the building permits needed for construction, without which companies could not do anything to move forward.
The completion of the first phase of construction is scheduled for August 20, 2025.
Alexander Kim, director of Asia-Invest Group, said, “We are currently negotiating earthworks with builders, building engineering networks on site, developing internal designs, and preparing project quote documents.”
Preparations are still underway, the main structure of the complex will take months to complete, construction will continue from September 2023 to March 2024, and the next step will be the installation of façade panels.
I don’t know about the casino itself because the company is still preparing the working documents. Along with that, I think I can submit the second-stage design document soon.
At the end of Stage 1, 80 hotel rooms are available to welcome guests. The casino will have 30 game tables and 200 slot machines. The eight-story complex will provide jobs for about 450 people.
Two major crises in Russia:
The Russian market has suffered a lot in recent years. The first crisis was the COVID-19 pandemic, and the second crisis was the war between Russia and Ukraine. No wonder two major projects in Vladivostok were delayed just before the Asia-Invest Group confirmed the project’s progress. The first project was supposed to be overlooked by Nagakov, and the second was an ambitious expansion project led by Tigre de Crystal owner Summit Ascension.