Genting Malaysia announces additional investments for Resorts World Genting

PETALING JAYA: Genting Malaysia Bhd is doubling its capital investment in Genting Integrated Tourism Plan (GITP) to significantly expand and add new facilities.
An initial budget of RM5 billion has now ballooned to an estimated RM10.38 billion.
The group said the substantial increase is for phase 1 of its development, which will now go up to RM8.11 billion from RM4 billion.
Under this phase, the first-ever world class branded Twentieth Century Fox World theme park will see a substantial increase in investment with more spectacular, thrilling and state-of-the-art rides than previously announced. Total investment in the Twentieth Century Fox World theme park is expected to exceed RM2 billion.
Phase 2 of the development which is estimated to cost over RM2 billion will see the construction of additional luxury hotels at Resorts World Genting (RWG), as well as an enviable new world-class show arena with a seating capacity of up to 10,000.
Genting Malaysia said the construction and development works for GITP are progressing well, with its first offering - the new 1,300-room First World Hotel Tower 3 – fully operational since June 2015. Other GITP attractions and facilities are expected to be opened in stages from the second half of 2016.
GITP, a major 10-year master plan launched in December 2013 for the redevelopment and transformation of RWG.