{"id":22829,"date":"2021-09-21T11:36:58","date_gmt":"2021-09-21T14:36:58","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=22829"},"modified":"2026-04-23T15:29:49","modified_gmt":"2026-04-23T18:29:49","slug":"rf-properties-gets-us1-03bn-loan-to-pay-off-short-term-debts","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/rf-properties-gets-us1-03bn-loan-to-pay-off-short-term-debts","title":{"rendered":"R&F Properties gets US$1.03bn loan to pay off short-term debts"},"content":{"rendered":"\n

R&F Properties, the company that’s developing the Midan City complex in South Korea, borrowed HKD8bn (US$1.03bn) from two major shareholders and company executives to pay off short-term debt.<\/p>\n\n\n\n\n\n\n\n

South Korea.-\u00a0R&F Properties Co Ltd has reported it has received an HKD8bn (US$1.03bn) loan\u00a0<\/strong>from two major shareholders “to address obligations that will mature in the short-term.” <\/p>\n\n\n\n

The company is behind the development of\u00a0an integrated resort in Midan City<\/strong>, in\u00a0<\/strong>Incheon Free Economic Zone. The\u00a0Midan City Resort Complex will include a casino<\/strong>, 750 hotel rooms, a theatre, and a convention space once it is operational. <\/p>\n\n\n\n

Through a press release, the company said it was confident it would have \u201csufficient capital support for ongoing project developments\u201d. <\/p>\n\n\n\n

The project was originally due to be completed this year, but in March the\u00a0South Korean Ministry of Culture, Sports and Tourism<\/a>\u00a0granted\u00a0a twelve-month extension to the previous construction deadline<\/strong>. That would mean an opening date in 2022.<\/p>\n\n\n\n

R&F Properties<\/strong>, the sole shareholder of the resort after\u00a0\u00a0Caesars Entertainment<\/a>\u00a0dropped out of plans, has said that it will resume work, but that, with only 25 per cent of the complex finished, it won\u2019t be complete until 2025.<\/p>\n","protected":false},"excerpt":{"rendered":"

R&F Properties, the company that’s developing the Midan City complex in South Korea, borrowed HKD8bn (US$1.03bn) from two major shareholders and company executives to pay off short-term debt.<\/p>\n","protected":false},"author":176,"featured_media":22841,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"R&F Properties, the developer of the Midan City integrated resort in South Korea, secured an HKD8bn (US$1.03bn) loan from major shareholders to address short-term debt obligations. The project, which includes a casino and was initially due for completion in 2022, now faces a revised 2025 target following Caesars Entertainment's exit and a regulatory extension from the Ministry of Culture, Sports and Tourism.","focusai_entities":"R&F Properties, Caesars Entertainment, Ministry of Culture, Sports and Tourism","focusai_location":"South Korea, Incheon, Midan City","focusai_target_profile":"ceo_executive (0.95), regulator (0.9), compliance_legal (0.85), operator_casino (0.9), investor_analyst (0.98), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Midan City Project Viability?","query":"What are the long-term financial implications of R&F Properties' shareholder loan for the Midan City integrated resort's operational viability and future capital expenditure requirements?"},{"label":"Regulatory Oversight Impact?","query":"How will the South Korean Ministry of Culture, Sports and Tourism's ongoing oversight and potential future interventions impact the Midan City project's revised development timeline and licensing conditions?"}],"footnotes":""},"categories":[157,16338],"tags":[14017],"class_list":["post-22829","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-integrated-resort"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22829","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=22829"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22829\/revisions"}],"predecessor-version":[{"id":22850,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22829\/revisions\/22850"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/22841"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=22829"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=22829"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=22829"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}