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ISSUE 139 - Nov 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

Contraction of Macau’s economy eases a bit in Q3

Annual rate of shrinkage in GDP slows to 24.2 pct in Q3 from 26.4 pct in Q2

Average price of housing drops 5 pct in October

The 383 homes sold fetched MOP79,344 per square metre of space, on average

October package tourists decrease to 804,100

Fewer visitors come on package tours from mainland, other important markets

Nam Yue wins waste sorting facilities contract

Govt gives MOP362.33 mln job to state-owned builder of Taipa-Hengqin tunnel

Govt to mull gauge of terrorist threat to Macau

Avoiding spreading panic a must, security secretary says, as threat is low

Govt gives Macau’s sovereign wealth fund a name

But official silent about size of the MSAR Investment and Development Fund

Gaming table growth cap unchanged, official says

Casinos must earn their shares of annual increase, says economy secretary

Assembly gives 2016 budget its first reading

Members give unanimous nod to govt plan to spend more while revenue shrinks

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