Entries Categorized as 'Construction'
March 30, 2007
Underpinned by sustained property demand amid the strong economic growth, the Macau property market continued to grow in 2006. Both the office and residential markets registered growth in capital values and rentals, while the retail property sector is taking shape to a more sophisticated landscape, says Jones Lang LaSalle at its Macau Annual Property Review for 2006 today.
During 2006, Macau’s GDP expanded by 15%, after a 6.7% growth in 2005. Fixed asset investment and exports of services were the key drivers, which grew by 46.5% and 13.8% respectively. With a more promising labour market and higher income levels, particularly those engaged in the gaming industry and for the young generation, private consumption expenditure increased by 7.6% in 2006.
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Posted in Condominium, Construction, Cotai Strip, Infrastructure, Macau Business, Macau General, Macau Property, Macau Retail, Macau Tourism 
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March 7, 2007
Chinese group Yanlord Land plans to invest US$300 million in transforming a plot of land with a sea view in Zhuhai into a luxury project with hotel, retail and residential areas, the South China Morning Post reported Monday.
According to the paper, the project’s location, which is close to the Gongbei border post between mainland China and Macau, will have an area of 214,500 square meters.
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Posted in China, Construction, Design & Construction, Development, Economy & Business, Macau General, Macau Property No Comments »
March 6, 2007
We already have mentioned a few times about the lack of quality labor and contractors in Macau. The Venetian Macau are not the only ones, Crown Macau, MGM Grand Macau, Grand Lisboa and Ponte 16 all have massive construction costs overruns. But then again we would imagine that their projected gaming income should be good enough to cover for these overruns!
An American casino giant building a new gaming district in Macau says soaring costs have put up the price of the project up by as much as 40 percent, a media report said Friday.
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Posted in Construction, Cotai Strip, Las Vegas Sands, Macau Business, Macau Casino, Sheldon Adelson, Venetian Macao No Comments »
March 2, 2007
Hopewell Holdings (0054), controlled by Gordon Wu Ying-sheung, posted a 19 percent rise in first-half net profit, mainly driven by housing developments in Macau and its highway business in China.
Profit for the six months to December 31 rose to HK$1.336 billion from HK$1.118 billion a year earlier, while turnover more than doubled to HK$2.64 billion.
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Posted in China, Construction, Infrastructure, Macau Business, Macau General, Macau Property No Comments »
February 24, 2007
The Statistics and Census Service released the results of Employment Survey for the fourth quarter of 2006. Principal indicators such as the labour force participation rate (66.4%), unemployment rate (3.5%) and underemployment rate (0.8%) have been published in the brief report in January. The annual unemployment rate for 2006 was 3.7%, down by 0.4 percentage point compared with 4.1% in 2005.
In the fourth quarter of 2006, total labour force was estimated at 286,000, of which 276,000 were employed and 10,000 unemployed, representing an increase of 5,100 workers in the employed population and a decrease of 600 in the unemployed population over the previous quarter.
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Posted in Construction, Employment, Macau Business, Macau Gaming, Macau Tourism, Social and Politics No Comments »
February 16, 2007
The Macao Government expects the city’s gaming revenue to record a modest double digit growth this year, the Secretary for Economy and Finance, Mr Francis Tam Pak Yuen, said today.
Speaking to the press at the spring festival reception hosted by the Liaison Officae of the Central Government, Mr Tam said it was difficult to forecast the gaming revenue for the whole year based only on the figures of the last month.
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Posted in Construction, Economy & Business, Macau Business, Macau Casino, Macau Gaming, Macau News, Social and Politics No Comments »
February 14, 2007
Cruise line operator Star Cruises, part of Genting Bhd, said on Feb 14 it was reviewing the deal structure of its plan to invest in a piece of property in Macau.
Star Cruises - which is listed in Singapore and Hong Kong - had said on Jan 22 that it would be buying a Macau property which would be developed into a casino hotel and would be operated by gambling mogul Stanley Ho.
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Posted in Construction, Economy & Business, Macau Business, Macau Casino, Macau News No Comments »
February 10, 2007
The early Ming glazed copper-red pear-shaped vase, Yuhuchunping, produced during Emperor Hongwu’s reign (1368-1398), to be donated to the Macao Special Administrative Region in this ceremony, was purchased at a Hong Kong auction in May last year by Mr. Steve Wynn, Chairman of Wynn Resorts (Macau) S.A.. Costing approximately 78 million Hong Kong dollars, this extremely rare Chinese porcelain will be exhibited as part of the permanent collection of the Cultural Affairs Bureau’s Macao Museum.
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Posted in Construction, Design & Construction, Macau General, Macau Heritage, Macau Retail, Macau Tourism, Steve Wynn, Wynn Macau, Wynn Resorts No Comments »
