Section: Property

Macau Real Estate Continues to Boom

Despite all the doom and gloom over the visa restrictions, the Macau Statistics and Census Service indicated that 8,396 real estate sale and purchase contracts with a total value of MOP8.0 billion were made in the first half of 2007, up by 30.6% and 65.5% respectively year-on-year. In the second quarter of 2007, a total

Macau Construction Boom Shows no Signs of Abating

The Macau construction sector registered significant increase in all principal indicators in 2006 that was underpinned by the various large-scale construction projects in progress. In 2006, there were 1,600 establishments operating in licensed construction works, an increase of 181 establishments over 2005. Number of persons engaged rose by 58.5% to 25,339. Gross output (total value of

Macau A Property Boom or Bubble?

Macau, more and more, has turned its property market into a casino that gives the safest bet to all fortune hunters. Gaming communities changed the face of Macau as they began sprouting up across the city in the early ´70s. I always thought the main appeal was to waltz into the local casino, drop a quarter

Hotel Developments Spurs Growth in Macau

The rapid development of the tourism sector in recent years has attracted openings of several new hotels. In 2006, there were 80 hotels and similar establishments in operation, which included 49 hotels and 31 guest-houses, providing a total of 12,915 guest rooms. At the end of 2006, the number of persons engaged in the hotel and

Hengqin Island Development to Go Ahead

The authorities in Zhuhai, southern China, have announced a detailed blueprint of Henqin Island Development Plan. The island, home to about 4,000 people, is very close to Macau. Strangely there is no mention of Las Vegas Sands involvement in this development. The plans call for oil and gas terminals, entertainment centres – and a branch of

Macau Success Raises Capital for Ponte 16 Casino Project

Macau Success Ltd said wholly owned unit Golden Sun Profits Ltd has agreed to sell about 10 pct of World Fortune Ltd's existing issued share capital to Japan's Maruhan Corp for 208.5 mln hkd. The sale also includes about 10.2 pct of the interest-free shareholder's loan of 66.47 mln hkd provided by Golden Sun to World

Shun Tak Holdings In The Money

Shun Tak Holdings Ltd, the ferry company and property developer controlled by billionaire Stanley Ho and his family, said first-half profit surged 20-fold on gains from property revaluation and the sale of the Mandarin Hotel stake, now called Grand Lapa Macau. Net income climbed to HK$1.69bn (US$218m), or 74.9 cents a share, from HK$84.1m, or 3.5

Macau’s Property Market Today

The current financial instability in the Worlds’ economy is certainly going to affect Macau property prices. The question is; How ? Opinions vary of course, that is the nature of ‘forecasting’. One of the world’s most respected financial institutions, the International Monetary Fund or IMF, predicts recession in USA and Europe. You may think that all these

Macau Expects 34,000 More Rooms By 2010

A total of 56 hotel projects which were still under construction or waiting for approval in the second quarter this year could provide at least 34,400 more guest rooms to Macau's tourism industry.According to information from the Land, Public Works and Transport Bureau (DSSOPT), 21 hotel projects were under construction, a drop of two from

Macau Waiting to Start Land Reclamation Projects

The Macau government is waiting for approval from the central government in Beijing to begin works on the reclamation land projects which are expected to total an area of around five square kilometers. The secretary for transport and public works, Lau Si Io, said the project plan is based on that of 2006, which the local