SGX Catalist-listed property developer KOP has begun construction on Wintastar Shanghai, an integrated resort that will house the world’s largest indoor ski and snow park of its kind.
The “multi-billion renminbi”, 227,000m2 Wintastar Shanghai marks KOP and its luxury hospitality brand Montigo Resorts’ maiden entry into China. Montigo Resorts will operate four themed hotels with over 1,000 room keys, including an Ice Hotel.
Dubai-based Majid Al Futtaim, operator of Ski Dubai and Ski Egypt, will operate Wintastar Shanghai’s 90,000m2 Ski & Snow Park, which will offer hotel ski-in-ski-out access and après-ski.
Commenting on what she says is the developer’s largest project to date, Ong Chih Ching, executive chairman and executive director of KOPL, said: “The large-scale mixed-development will offer opportunities for KOPL to build new income streams, many of which are recurring in nature, for our sustainable growth going forward.
“The timing for Wintastar Shanghai could not be better, with Chinese consumers yearning for travel, leisure, novel experiences, and winter sports being the next big thing in China because of the Beijing Winter Olympics 2022.”
Targeted to complete in 2022, Wintastar Shanghai is expected to attract an estimated 3.2 million visitors annually on a stabilised basis.