Global focus

High stakes

The largest commercial construction project in the US, MGM Mirage’s new US$8.5bn blockbuster CityCenter development recently opened its doors, right in the heart of the Las Vegas strip.

With 2,700 private residences, two 400-room non-gaming boutique hotels, a 4,000-room resort casino and 50,000 sq m of retail and entertainment facilities, the stakes are high for the success of the luxury project.

Not only did the enormous scheme battle back from bankruptcy earlier last year, after being rescued by eight international banks, CityCenter has come online at a time of record high vacancy rates and hugely discounted hotel rooms, as consumers hunt for bargains.

Place your bets…