Just in time for our first issue, Pacific Business News reported that an affiliate of Kam Sang Co., a California-based real estate company, purchased two oceanfront parcels at Ko Olina for $216 million. You might recall that these are the same two parcels originally slated for the Atlantis Resort, which was announced back in 2016.
As part of the deal, it seems the new owners have committed to the original plan of building the Atlantis Resort at an estimated cost of $2–$2.5 billion, with a timeline of five years to complete. And if you believe that, I have a bridge in Brooklyn—or a railway in Ewa, to sell you.
It will certainly be interesting to see what happens with this beautiful plot of land. If the project does come to fruition, according to the article, Atlantis will feature about 500 hotel rooms and 500 vacation-stay (or condominium) units, while a second hotel will have approximately 250 hotel rooms and 250 vacation units, for a total of 1,500 keys.
