Macau Construction Boom Slowing Down Projects?
Written on January 29, 2007 by admin
There is definitely a construction slowdown in Macau. The main problem seems to be getting highly qualified specialist contractors, such as interiors, finishing and joinery of which there are few in Macau, and they are all fully booked for the next few years ahead.
Wynn Macau
This means the construction companies have to get them from China or other parts in Asia, which then becomes a difficult factor as using them causes costs to skyrocket as Crown Macau and Venetian Macau have found out. Just let us give a few examples of the casino projects that are under construction right now and their expected openings for 2007.
Firstly, the Crown Macau after many delays will finally open on April 28, 2007 (Not confirmed), but it will be a soft opening with the casino opening first. They may open some parts of the hotel, but we expect the full completion of the 6-star hotel would not be until Q4, 2007.
Even Wynn Macau and Galaxy StarWorld also have problem, as they still have contractors fitting out floors of hotel rooms. This seems to become standard now, as there aren’t just not enough contractors! In fact Wynn Macau had to delay Phase Two opening to Q-3 for the same reason. Also foundation work is well underway on a site directly behind the Galaxy Starworld, where they will be constructing a twin tower identical to the first one! Wynn Macau is going to demolish the carpark to build the twin tower as originally planned.
Wynn Towers
The Grand Lisboa is having a soft opening planned for February 16, 2007, where only the casino will open, with the hotel to follow later this year.
MGM Grand Macau also is facing delays and cost overruns and cannot see them opening until late Q-4.
MGM Grand Macau
The Venetian Macau soft opening is planned for mid 2007 and expect the completion of the 3,000 rooms to take quite some time! The Four Seasons Hotel now has moved beyond foundation work into structural work and is expected to open mid 2008. Other projects moving on the Cotai Strip seems to be very little. City of Dreams is working slowly on the foundations, but still a risk as the Macau Government has still not released the site.
Ponte 16 is not expected to open at least until mid 2008, as they still are putting some of the financing together, which may possibly delay the project.
Technorati Tags: City of Dreams, cotai, Cotai Strip, Crown Macau, macau
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