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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

Macau enterprises invest RMB200 bln in Hengqin

Number of Macau, HK enterprises on island reportedly doubling every month

Kowloon Devt sets 2016 sales target of HK$5 bln

Assuming pre-sales of space in two developments in Areia Preta can resume

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
Headlines

Recession persists as Q1 GDP shrinks 24.5 pct

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

Sinosky Energy still has natural gas contract

Official denies newspaper report that govt has lost patience with supplier

Premium mass market the focus of newest casinos

Gets the lion's share of new tables in the extension of Galaxy Macau resort

Second phase of Galaxy Macau opens tomorrow

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

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