Las Vegas Strip Luxury Real Estate Building Boom

Venetian Las Vegas PalazzoThe Las Vegas building boom worth $20 billion, a five year timeline, is under way on the Las Vegas Strip. It will roughly double the inventory of luxury hotel rooms costing $200 a night or more, a new Standard & Poor’s study said.

This newfound focus on upscale visitors is largely a response to continuing Las Vegas demographic shifts.

Real estate projects that S&P said probably would be completed include:

• The $1.8 billion Palazzo Las Vegas high rise with 3,025 rooms.

• The $1.7 billion Encore Wynn Las Vegas with 2,054 rooms.

• The $7 billion MGM Mirage Project CityCenter with 7,700 rooms.

• The $4 billion Echelon Place with 3,300 rooms.

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