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ISSUE 118 - Feb 2014
 
 
The Macau property market is changing. Vote. What is your opinion on likely price fluctuations for the second half of this year?
Decline below -10 percent
Decline from 0 to -10 percent
Growth from 0 to 10 percent
Growth above 10 percent
 
 

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

June hotel occupancy rate falls to 73.9 pct

Three-star hotels fill 75.7 pct of their rooms, five-star hotels 75.3 pct

June package tourists decrease 17.5 pct to 707,000

Govt statisticians say contraction reflects MERS outbreak in South Korea

Cecil Chao's Coloane development may abut LRT

Public works official outlines plan to accommodate both in Seac Pai Van

Court shuts door on further La Scala appeals

Joseph Lau and Steven Lo will have to live with their bribery convictions
Headlines

Greying of Macau tipped to worsen labour mismatch

Policy official says 16.3 per cent of population will be elderly in 2025

Wynn Resorts Q2 earnings in Macau US$173.4 mln

Gaming slump depresses EBITDA 43.5 pct and cuts net revenue to US$617 mln

Wynn Resorts Q2 earnings in Macau US$173.4 mln

Gaming slump depresses EBITDA 43.5 pct and cuts net revenue to US$617 mln

Chief Executive says welfare measures sacrosanct

Fernando Chui seeks to reassure public about any cuts in govt spending

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