Macau Property Overview Report(update3)

Written on June 14, 2006 by Macau

As has successfully transformed itself into a tourist destination, a sharp increase in the demand of hotel rooms is recorded. With its strong gaming industry, is becoming a hot spot for real estate investment.

380-Hectare Land Reclamation Plan

government has released its plan to reclaim a total of 380 hectares of land in 2006. The areas to be reclaimed include the seas off the north east of the Peninsula and north of Taipa.

The reclaimed land will be able to cope for 110,000 to 120,000 residents, and will be used for a variety of functions, namely business, residences, low-density tourism facilties, green areas and community amenities. The reclaimed area in central Taipa, meanwhile, will include gaming, tourism facilities and residences.

Recent Development Projects in

A strong link between gaming and land development (hotel-casino project) is formed in . The Sociedade de Jogos de , S.A. (SJM), headed by tycoon , has been the major local-based land and property developer in . Since the government ended the gaming monopoly held by SJM in 2002, more and more Hong Kong and international developers are targeting this tiny piece of land and sharing the pie.

In recent hotel-casino projects, one new element is added – the convention and exhibition centre. This trend is expected to continue as more mega hotel-and-resort projects are undergoing on the central part of Island, a.k.a. Strip.

Below short-listed some of the major land development projects in :

I. Developers / Investors

MacauLand / Citigroup Property Investors Joint-Venture
Project: The Manhattan [2006]
Location: Strip
Description:
- Luxurious 169-unit residential project, size from 1626 to 2492 sq ft
- Target per sq ft selling price at about HK$3,000

Galaxy Group Limited
(A) Project: Galaxy Mega Resort [2008]
Location:
Description: Mega resort hotel with gaming facilities

(B) Project: Galaxy StarWorld [2006]
Location: Peninsula
Description: Hotel with casino in the downtown

(C) Project: Rio Hotel [2006]
Location: Peninsula
Description: Hotel with casino in the downtown

(D) Project: Grand Waldo Hotel [2006]
Location:
Description: Luxury hotel with casino

Sociedade de Jogos de , S.A. (SJM)
(A) Project: Fisherman’s Wharf [2006]
Location: Nape, Peninsula
Description:
- Occupies an area of over 93,000 sqm, combining , retail, food, hotel, marina, convention and exhibition facilities
- Fisherman’s Wharf is mainly divided into 3 themed sections: Tang Dynasty, East Meets West, and Legend Wharf
- The Rocks Hotel: 72-room Victorian style hotel (at Legend Wharf)

(B) Project: Oceanus [2009]
Location: Nape, Peninsula
Description: 3.3 million sq ft project, topped off by a 180 meter-tall tower
(C) Project: Grand Lisboa
Location: Peninsula
Description: Luxury hotel with casino

(D) Project: Lot A12 Nam Van Lake Porject
Location: Peninsula
Description: To be announced.

II. Hong Kong Developers / Investors

Emperor Group / Emperor Hotel Limited
Project: Grand Emperor Hotel [2006]
Location: Peninsula
Description: Luxury hotel with casino

Far East Consortium International Limited
Project: Dorsett Development Complex [2007]
Location:
Description:
- Four hotels with 3,000 hotel rooms:
InterContinental , Holiday Inn, Cosmopolitan , and Dorsett
- 1 mil sq ft & shopping complex
- Casino & theater totaling 160,000 sq ft (operated by Sands )
- Over 360,000 sq ft residential development

Hongkong Land Limited
(A) Project: New Mandarin Oriental [2009]
Co-developers: Shun Tak Holidings & Mandarin Oriental
Location: Nam Van Lake, Peninsula
Description:
- 2.6 million square foot with 210 guestrooms including 42 suites
- Casino to be managed by MGM Grand Casino

(B) Project: The Landmark, [2006]
Location: Nape, Peninsula
Description:
- 22-floor hotel building provides 451 spacious guestrooms
- Full range of recreational facilities, entertainments including a 24-hour casino

Success Limited
Project: Ponte 16 [2007]
Location: Inner Harbor, Peninsula
Description: 17-storey five-star hotel with 420 luxurious rooms

Melco / PBL Joint-Venture
(A) Project: [2008] 
Location:
Description:
- Integrated resort on the Strip
- Two (2) 4-star hotels, one (1) 5-star hotel with a total of 2,000 guestrooms
- Underwater casino with 450 gaming tables and 3,000 slot machines

(B) Project: Crown [2006/2007] 
Location:
Description: The first 6-star casino-hotel project in

Henderson Land Group has announced its development on the northern coast of the Island. Hopewell Holdings Limited will invest and participate in the Nova de Taipa Phase 3 & 5 project.

III. International Developers / Investors

MGM Grand Paradise Limited
Project: MGM Grand [2007]
Location: Peninsula
Description:
- 600-room resort hotel in 28-floor high-rise
- Casino features 300 table games and 1,000 slots with room for expansion
- Features include a luxurious spa, convertible convention space, facilities, and a variety of dining destinations

Venetian Limited
(A) Project: Venetian [2007]
Location:
Description:
- 3,000 suite mega resort in Italian Venice style
- features include casino, themed retail venue, multiple restaurants, a showroom, an arena and convention center

(B) Project: Sands
Location: Nape, Peninsula [Openend in 2004]
Description: One million-square-foot casino and complex

Wynn Resorts () Limited
Project: Wynn Resort [2007]
Location: Peninsula
Description: 600 luxurious rooms and suites

More hotels will be built on the Island and be part of the Strip project. These licensed international hotel groups include Four Seasons, Hilton Hotels (Hilton, Conrad, Scandic), Marriot International (Marriott, Renaissance), Regal Hotels, Starwood Hotels and Resorts Worldwide (Sheraton) and Shangri-La Hotels.

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Posted in Cotai Strip, Hotel Macau, Macau Casino, Macau Gaming, Macau Property, Macau Tourism

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