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ISSUE 118 - Feb 2014
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Shun Tak spends RMB721 mln on Hengqin land

Posted: 8/1/2013 12:28:17 PM
Rating:     0% ( votes)

Shun Tak Holdings Ltd says it will build a mixed-use development on a parcel of land at Hengqin Island.

The company told the Hong Kong Stock Exchange about the land deal yesterday. It paid RMB721 million (MOP939 million) for the site.

Shun Tak said it would build a hotel, offices, serviced apartments and commercial space on the 2.38-hectare plot with a maximum gross floor area of 131,089 square metres.

Shun Tak managing director Pansy Ho (pictured) said: “The location and strategic value of this Hengqin project naturally complement our existing hospitality business in Macau.”

The Hong Kong company, founded by gaming mogul Stanley Ho Hung Sun, runs ferries between Macau and Hong Kong, and has substantial real estate and hospitality interests here.

Other Macau Latest News

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Test looms for theory that supply creates demand

Deutsche Bank says Cotai’s first new casino-resorts to show if it is right

Cost of homes rises 12.6 pct in April as more sold

But market cooler than a year earlier, when prices and sales were higher

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Exports of gaming services drop by 39.7 pct, tourism services by 17.7 pct

Sinosky Energy still has natural gas contract

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Premium mass market the focus of newest casinos

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Casino-resort extension will have 150 new gaming tables, two new hotels

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