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ISSUE 118 - Feb 2014
What are your expectations for the gross gaming revenue growth of Macau’s gaming industry in 2014?
Growth above 10 percent
Growth from 0 to 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

Rolls-Royce sales track Macau’s stock of casinos

But company director says casino-hotels are not the only buyers in the city

Taxman reportedly thinks Wynn Resorts money smells

Newspaper says casino operator’s money-laundering safeguards being probed

Hotels containing 14,434 rooms being built in Q3

The projects will eventually increase Macau’s hotel room stock by 52 pct

Business Awards of Macau presented in Grand Lisboa

Ceremony includes presentation for the first time of award for new talent

Louis XIII casino-hotel due to open mid-2016

Developer expecting strong cash flow once the business is fully operational

Border Gate to be open two hours longer each day

Other border crossings will be open to some travellers around the clock

Q3 visitor spending rises 4.6 pct to MOP15.5 bln

But each average tourist spends less, most notably each average mainlander

Tam Pak Yuen expects sufficient gaming tax in 2015

Economy Secretary says lower direct tax take will just mean smaller surplus

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