17th December 2018
Kinesis partners with Elysium City
We are proud to announce Kinesis is now a developmental partner with Elysium City, the first major smart sustainable city project in Europe.
One of the most ambitious leisure and hospitality destination projects in Spain and the largest of its kind on an international scale, Elysium City will be built from the ground up, with a healthy budget of around $20 Billion.
The project is being backed by California development firm Cora Alpha, a division of Cora Global, which is run by John Cora, a former VP of the Disney corporation in charge of theme park operations and resort development.
The plans are to develop the Elysium resort on a 1,200-hectare parcel of land in the Extremaduran town of Castilblanco. The first phase expects to complete in 2023 and would consist of a casino, four hotels, a golf course, several theme parks, plus a 40k-seat football stadium and an assortment of infrastructure projects to serve a 2k-home residential complex.
The second phase would follow in 2028 and would add more residential space, a solar power plant, a Formula One racing track, a convention centre and other amenities. The first phase would require an outlay of around $3.5b while phase two would require another US$10b.
The city entails an investment of 3,500 million in a first phase and up to another 8,000 million in a second stage.
Kinesis will have exclusive rights to build a vault within the city and to create a trade zone in which we can implement the Kinesis Monetary System.