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ISSUE 141 - Jan  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

Sands China pays employees 13th month bonus today

Gaming company also announces increase in pay for its staff on March 1

Casino takings seemingly immune to UnionPay curbs

But prospect of more restrictions a cause of jitters, Union Gaming says

Govt suspends sale of live poultry until Feb 7

After bird flu virus found in poultry for sale in Patane temporary market

TurboJET woos higher-paying passengers with lounge

After ferry operator detects growing demand for luxury on HK-Macau voyages
Headlines

Top court upholds govt repossession of land

Rejects challenges by former holders of a plot on Taipa and two other plots

Galaxy Entertainment to top-up employee bonuses

Gaming company giving what it calls a special gift to mollify grumpy staff

Court rejects Pearl Horizon land tenure extension

Says Polytex challenge to govt’s repossession of site has no valid grounds

Macau drops to 37th in Index of Economic Freedom

Heritage Foundation and Wall Street Journal detect less monetary freedom

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