A motor racing circuit, an arena, hotel and other entertainment facilities are elements in two private-sector proposals for development next door to the under-construction MGM Osaka casino resort, Japan’s first such facility.
Those suggested additional elements – which would be part of Phase 2 of development on Yumeshima (pictured), an artificial island in Osaka Bay – have been rated “excellent” by the Osaka prefectural and city governments, the two local authorities in that metropolis. That is according to a Wednesday report – citing unidentified sources – by the Yomiuri Shimbun news outlet.
As per a Thursday local-government update, one of the “best” Phase 2 proposals suggests “a large arena, motor sport facilities including a racing circuit, automobile-themed park, [and] luxury hotel”.
Its private-sector backers are Obayashi Corp as the principal, and six other companies.
The other preferred proposal would involve a water park and hotel. Its backers are Kanden Realty & Development Co Ltd as the principal, and five other companies.
The aim of the extra facilities is to create a ‘synergistic effect’ with the casino resort, according to GGRAsia’s Japan correspondent, citing previous commentary from the local authorities.
Three proposals for Yumeshima Phase 2 were received. Neither the local authorities nor the media outlet, specified the content of the third one.
Work on the area that will contain the main building for the MGM Osaka integrated resort (IR) with casino, is due to start at the end of April this year, with all construction for the MGM Osaka site due to be completed in July 2030.
The master plan for Yumeshima Phase 2 is likely to be established by the Osaka governments in March, according to the report.
An initial request for proposal (RFP) for Phase 2 – with ideas for projects – was held from September to November last year.
The Yumeshima Phase 2 site is a part of the land to be used for Expo 2025 Osaka, and covers circa 50 hectares (123.6 acres). The Expo will be held for 184 days from April 13 to October 13 this year.
Once the Expo is concluded, there will be a second RFP for Yumeshima Phase 2, that will select a developer and development plan, according to information collated by GGRAsia’s Japan correspondent.
(Updated 4.46pm, Jan 9)
