Wakayama Announces IR Implementation Policy

Wakayama Announces IR Implementation Policy

Wakayama Announces IR Implementation Policy
Wakayama Announces IR Implementation PolicyReading Time: < 1 minute


The Wakayama prefecture has announced its implementation policy for an integrated resort bid.

The policy sets out objectives for a wellness and sports-focused IR that aims to revitalise the local economy, attracting visitors from within Japan and abroad, creating “significant economic and employment effects.”

It calls on potential private operators to prioritise the waterfront location, hot springs, food culture and other local resources to maximise the strengths of their proposals.

Wakayama’s candidate area is a 23.61-hectare space in Marina City, Kemi, with an initial operation period of 40 years.

Proposals from potential private partners must be creative designs that fit in with local heritage, the prefecture’s policy states.

The building must offer a symbolic landmark and be technologically advanced, including MICE facilities covering 50,000 square meters, customer PR and concierge services, at least 100,000 square meters of accommodation with 2500 guestrooms, and a casino comprising no more than 3% of the entire area.

Sports must also form a key part in the proposal. Sailing, surfing, fishing, diving, golf, rafting, and a spa are all mentioned in the policy.

The policy also mentions that potential partners must consider a policy for mitigating problem gambling.

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