Resorts World is to open on the site of the former Stardust Hotel-Casino. The 87-acre development will rise at Las Vegas Boulevard and Desert Inn Road, just south of Circus Circus and cater-corner from Wynn-Encore.

The multibillion-dollar project is the brainchild of -based . The development will feature 3,500 hotel rooms in its first phase, along with a multi-story casino, upscale restaurants and high-end shopping.

Genting paid $350 million to acquire the land and the concrete skeletons of some buildings from Las Vegas-based , the Associated Press reported. It had planned an expansive, multi-hotel project named Echelon, but after imploding the Stardust in 2007 and beginning construction, the resort was mothballed during the economic downturn.

An artist&rsquo,Mulberry handbags;s rendering of Resorts World Las Vegas highlights the property's Asian influences. A replica of the Great Wall of China, facing the Strip, will wind through the property adjacent to red-roofed, pagoda-style buildings that will be dwarfed by the towering hotel. A panda habitat is also in the works, according to the Las Vegas Review-Journal.

Although it's a newcomer to Las Vegas, Genting’s Resorts World brand is well-known elsewhere. The company operates casinos in the Bahamas, Malaysia, the Philippines, Singapore and the United Kingdom. Its first U.S. casino opened 16 months ago near New York's .

Nevada Gov. noted that the sprawling project will bring “several thousand new jobs” to the state’s still-stagnant economy.

"The entrance of one of the world's leading resort gaming developers into Nevada is another fantastic sign that Las Vegas and the Strip are poised for great things moving forward in 2013 and beyond," Sandoval said in a statement.

Genting plans to break ground next year and expects a 2016 opening. The last major resort built along the Strip was the , which opened in December 2010.

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