Cotai Masterplan Rendering (Includes 100000 + Hotel Rooms when completed)
http://img55.exs.cx/img55/3417/cotai_masterplan_renderingcrop.jpg

http://img99.exs.cx/img99/4305/model2.jpg[/QUOTE]

A 620-hectare project connecting the islands of Taipa and Coloane with land reclaimed from the sea is destined to become an entirely new and self-contained city within Macau, with its own schools, health centers, hospital, social and sports facilities, a cultural center with exhibition and conference space, museums, police and fire stations, markets and post offices. The new city of Cotai will be home to an estimated 150,000 residents and a considerable number of businesses.

"All cities need industrial development," observes Engineer Jose Castanheira Lourenco, Director of GADA, (Gabinete para Apoio ao Desenvolvimento dos Aterros Taipa-Coloane) the government office for development of the reclamation area between the islands of Taipa and Coloane. "If neighbor cities can meet together and discuss the best solution, this is ideal," he continues, making an example of the cooperation between the cities of Macau and Zhuhai, which lies just across the border.

"We exchange ideas with the Zhuhai government," he says. "We had several meetings before presenting the final plan."

The infrastructure development of necessity came first. Beyond making a substantial contribution to the future SAR's economic and social development as well as a marked impact on the surrounding region, Cotai will provide a base for the new regional transportation infrastructures that will comprise the airport, new roads, bridges and railway system strengthening the connection between Macau and The People's Republic of China. Expansion of the causeway connecting the islands of Taipa and Coloane has already been completed as part of the transport network that will link the area via the new Lotus Flower Bridge, under construction since 1998, to the Island of Montanha and beyond to Zhuhai via the Lapa Bridge, scheduled to be completed in October, with its new border crossing point ready for operation in September.

Cargo and passenger facilities now in existence and those planned will interface neatly, Mr. Castanheira Lourenco explains, pointing out the nearby Ka Ho port and airport. The new border crossing at Cotai, with immigration and customs facilities, will greatly improve mobility of goods and people between Macau and the mainland, with additional capacity required as cross border commerce continues to grow and the single border crossing now operating in the city's northernmost section becomes overburdened. The new border facilities at the Lotus bridge will be served by six-lane approaches in both directions.

A 185km-long high-speed railway linking Guangzhou, Zhuhai and Macau currently under construction will pass through the cities of Nanshai, Foshan, Jiangmen, and Xinhui, and the districts of Hoshan and Doumen. It will include a branch line that will connect Zhuhai with the deep-water port of Gaolan, through Doumen City.

Passengers will be able to access this rail transport line and shippers will send and receive their goods via the railway complex at Cotai. The new transport facility will include a double electric rail line, a 15-floor multi-use passenger station with 3 platforms and 4 tracks, facilities for cargo trains as well as passenger trains, an engine yard and a branch line extending to the container terminal at Ka Ho port. Nearby Guangdong province is already upgrading its railway system, which will bring more areas of the province and its neighboring provinces into the mainstream of foreign commerce by the railway terminus planned on the edge of Cotai, adjacent to Macau International Airport.

A multilane freeway stretching from Guangzhou and Hong Kong will extend as far as the Zhuhai-Macau border. Additional road expansion and improvement is already underway in Zhuhai, and Guangdong authorities are developing modern road communications westward to support the Hainan Island area and its contiguous coastline.

The Marine Club
http://www.ipim.gov.mo/en/publication/macauimage/cover/31/sr-3.jpg

A water treatment plant for Cotai has been inaugurated and has begun operating on wastewater from the area. Importance has also been given to planning of green areas, and according to Mr. Castanheira Lourenco, the previewed cost to be spent by the Macau government, with the reclamation land, construction of infrastructures including railway and roads, green areas and social services and facilities, is about 8 billion patacas (US$1 billion).

The New Border Crossing Point (Completed)
http://www.ipim.gov.mo/en/publication/macauimage/cover/31/sr-4.jpg

The Convention and Exhibition Center
http://www.ipim.gov.mo/en/publication/macauimage/cover/31/sr-5.jpg

Cotai is a city for the future, according to its developers. It is important for Macau, says Mr. Castanheira Lourenco, because it makes it possible for the city to expand, providing 6.2 square kilometers of space that is entirely new, and also flexible for use as needed.

All private investments in the project must be compatible with GADA's master plan to be approved, Mr. Castanheira Lourenco stresses, and the guidelines for private development must be respected. But the economic evolution of the area is also very important, he notes. "Cotai is a plan for the near and medium-range future, to be completed with 10 to 15 years" explains Mr. Castanheira Lourenco. "It's a flexible plan that can be adjusted as conditions change in the region - as all development plans should be flexible."

Hotels that will be built in Cotai - Marriot, Four Seasons, Intercontinential, Hilton, Sheraton, Starwood, Conrad, Holiday Inn and Dorsett

首階段與威尼斯人結盟打造金光大道的，俱為世界級的酒店管理集團，包括世界最大的酒店管理集團、擅長商務客的萬豪（Ｍａｒｒｉｏｔ）；走豪客高檔路線，在世界十大酒店佔有兩間、在世界五十大酒店佔有七間的四季酒店集團（ＦｏｕｒＳｅａｓｏｎｓ）；管理假日酒店的洲際酒店集團（ＩｎｔｅｒＣｏｎｔｉｎｅｎｔａｌ）；希爾頓酒店集團；喜來登、威斯汀俱屬旗下的Ｓｔａｒｗｏｏｄ國際酒店及度假村集團，以及兩家過江龍：分別由香港商人羅旭瑞及邱德根家族持有的富豪酒店集團及遠東發展（Ｄｏｒｓｅｔｔ酒店集團），幾乎盡收天下神兵。

據日前報道，由富豪負責在澳門首期興建約有一千六百個房間的四星級酒店，第二期將興建有二千二百間房的超五星級酒店。酒店內設有的賭場及歌劇院則出租予威尼斯人集團經營。賭圈人士關注，黃金大道的賭場，或都以同樣方式統一由威尼斯人承批經營。

投資目光鎖定亞洲市場

年前，特區政府委託威尼斯人與仲量聯行向國際招商，尋求國際知名的酒店管理集團參與投資發展路氹城，把路氹城打造成亞洲的博彩旅遊及會展勝地，增強澳門博彩業的區域競爭力。有關注博彩業的人士指出，特區政府的策略，正正切合美國博彩業集團的“東進”戰略。鑑於本土市場的極端發展，ＭＧＭ、哈利斯、威尼斯人、永利等博彩業集團，紛紛把投資目光鎖定在亞洲市場，繼澳門、新加坡後，估計美國財團下一個力爭的市場，將是對開賭蠢蠢欲動的泰國。

最終目標純博彩轉會展

有熟悉情況人士指出，威尼斯人成功招攬國際頂尖的酒店管理集團到路氹城投資，旣符合路氹城的發展規劃，也造出哄動國際的聲勢，表明亞洲地區的博彩業，現階段仍以澳門為尊。更重要的是“獨木不成林”，威尼斯人及其合作伙伴透過幾乎同一時間在同一地區興建多幢世界級酒店，製造出規模效應。威尼斯人不用單打獨鬥，而是透過開設賭場等手段，拉攬國際品牌級酒店集團加盟，透過他們不同的客戶網絡，吸引外地旅客來澳旅遊、開會，使用威尼斯人的會展設施及服務，互惠互利。可以預見，威尼斯人在澳門主攻的業務，將由純博彩轉為會展：會展業務為目標，博彩只是手段之一。

1.5 billion investments in Cotai

The whole project is estimate complete in 7-10 years. It includes 20 hotels with 60000 rooms, golf club, 8 theatres and entertainment center, a conventional center, a shopping district and a performance center.

http://img175.exs.cx/img175/4643/m117dm.jpg

拉斯維加斯金沙集團招攬世界級國際酒店集團合作，發展路氹城“金光大道”計劃。該集團董事會主席兼營運總裁安德森表示， “金光大道”計劃分三期進行，總投資額達一百二十億美元（折合九百六十二億六千萬澳門元）至一百五十億美元（一千二百○三億澳門元），希望三期工程最快可在七年後完成，令澳門變成國際級旅遊及會展中心。首期七間酒店的工程則可在兩年後完工，屆時可提供二萬至二萬五千個職位。

二十酒店七至十年竣工

拉斯維加斯金沙集團昨日舉行記者會，介紹該集團在路氹城的“金光大道”計劃。該集團董事會主席兼營運總裁安德森表示，“金光大道”計劃將集中了世界級的酒店集團，令澳門變成國際級的旅遊及會展中心。該計劃的總投資額達一百二十億至一百五十億美元（折合九百六十二億六千萬至一千二百○三億澳門元），包括二十家酒店，共六萬間客房，高爾夫球場、劇院及娛樂場等設施，預計在七至十年內完成所有工程。

為了實現“金光大道”計劃，拉斯維加斯金沙招攬世界級國際酒店集團參與計劃，已經與該公司簽訂了合約或達成合作協議的酒店集團包括遠東國際集團、四季酒店集團、希爾頓酒店集團、洲際酒店集團、萬豪國際、富豪酒店集團及Ｓｔａｒｗｏｏｄ國際酒店及度假村等。

分三階段首期建七酒店

整個計劃分三期完成，首期計劃已經動工，包括七間酒店。除了威尼斯人旗艦酒店外，其他六間酒店均由已簽約的國際酒店集團興建。安德森表示，目前金沙及各酒店投入的資金為卅五億美元，預計有十五億美元將於短期內注入，其中金沙集團的投資額為十八億美元。

安德森表示，“金光大道”首期工程將於兩年後完工，屆時七間酒店可提供一萬間客房，八個獨立劇院及娛樂場。旗艦酒店威尼斯人度假村除了提供三千間客房外，還建有一個面積達一百萬平方呎的會議展覽中心、一百萬平方呎的購物區，以及一個有一萬五千座位的表演場館。

冀年引旅客三至四千萬

對於澳門未來的旅遊市場發展，安德森表示，目前澳門一年有一千六百萬人次旅客，希望日後可發展至三千萬至四千萬人次，不過未達到此人數前，可從延長旅客留澳時間方面入手。目前來澳旅客留澳時間只有一點二晩，若能延長至每名旅客逗留二至四晩，酒店入住率便會大幅提升。因此，要致力提高平日的入住率，以及吸引更多會展及商務旅遊的旅客，將商務旅客與觀光客的人潮結合，便可全面提升不同時期的旅客入住數目，所以發展商務及會展旅客，必是發展重點。

逾二萬職位本地人優先

在工作職位方面，安德森表示，很難確定要聘請多少員工，因為不同的酒店有不同的需求，但可預計首期工程完成後，需要聘用二萬至二萬五千名人員，肯定以本地居民優先。

此外，安德森證實現正與廣東省及珠海市政府商討在橫琴投資興建休閒度假中心。金沙集團計劃在橫琴興建設有網球場、泳池等休閒設施的度假中心，在當地提供非博彩的旅遊娛樂設施。

三年營造國際娛樂都會

安德森表示，“路氹城的‘金光大道’是一個前所未有的大計劃，這是我的夢想，當向各酒店集團領導層解釋我的想法時，大家都認為這是一個必勝的計劃，現在眞恨不得七間酒店明天便建好，令這夢變成眞。”

金沙集團總裁兼營運總監威廉懷特則表示，拉斯維加斯用了七十五年時間才變成一個國際娛樂都會，但金沙與其他合作者的目標是在三年內，將澳門創造成一個國際旅遊勝地。

Video of the models and construction site (in Cantonese)

mms://202.175.80.18/tdmvideo/18/2b.asf

COTAI Strip Draws “Dream Team” of International Hotel Brands, Leading Investors - Venetian Macao Set to Anchor “Asia’s Las Vegas"
Accompanied at a press conference today by executives from world-renowned hotel brands and leading investment companies, Las Vegas Sands Corp. (NYSE: LVS) provided a new look into its development of a Las Vegas-style strip in Macao.

“COTAI Strip Macao is destined to become Asia’s Las Vegas. By assembling a critical mass of world-class hotel brands this development will reposition Macao as an international tourist and convention and exhibition destination,” said Mr. Sheldon G. Adelson, chairman and chief executive officer of Las Vegas Sands Corp.
“Thanks to the efforts of the assembled group of world-renowned hotel brands and regional and local investors, and especially the Macao government, the vision of the COTAI Strip is clearly taking shape.”

Mr. Adelson, the visionary behind the COTAI Strip, said the project will likely be the single largest mixed-use tourism development ever constructed simultaneously. While unveiling a massive model of the proposed COTAI Strip, Mr. Adelson said the first phase of the strip is scheduled to open in 2007 – a phase which will feature seven resort hotels comprising more than 10,000 guest rooms set amidst lush tropical landscapes.
Joining Las Vegas Sands executives in Macao were representatives from hotel companies Dorsett Hotel Group, Four Seasons, Hilton Hotels (Hilton, Conrad, Scandic), InterContinental Hotels Group (InterContinental, Holiday Inn), Marriott International (Marriott, Renaissance), Regal Hotels and Starwood Hotel and Resorts Worldwide (Sheraton, W).

“Never have so many recognizable brands assembled in one place at one time to create a new international tourism destination almost over night,” said William P. Weidner, LVS president and chief executive officer. “It took 75 years for Las Vegas to emerge as an international destination. Our intention is to replicate that feat in less than three years, and Las Vegas Sands is working closely with all of the hotel companies and investors to conclude their arrangements and realize this vision.”

The COTAI Strip is a master planned development of resort casino properties on COTAI, an area of reclaimed land between the islands of Taipa and Coloane in Macao. In addition to the 10,000 guest rooms, the first phase of the COTAI Strip will offer a critical mass of business, leisure and entertainment attractions, including world class meetings and convention facilities, over 20,000 seats of live entertainment in eight separate theater venues and the most modern and exciting casinos in Asia.
Mr. Weidner said the $1.8 billion Venetian Macao, which is currently under construction and is scheduled to open in early 2007, will occupy 10.5 million square feet of space and will serve as the anchor of the COTAI Strip. At completion, the luxury resort will feature 3,000 suites, one million square feet of meeting and exhibition space, a 2,000 seat showroom, 850,000 square feet of retail mall space, and a 15,000 seat arena.

Statements in this press release which are not historical facts are “forward looking” statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve a number of risks, uncertainties or other factors beyond the Company’s control, which may cause material differences in actual results, performance or other expectations. These factors include, but are not limited to general economic conditions, competition, new ventures, government regulation, legalization of gaming, interest rates, future terrorist acts, insurance, and other factors detailed in the reports filed by Las Vegas Sands Corp. with the Securities and Exchange Commission.
Las Vegas Sands Corp. is a hotel, gaming, resort and exhibition/convention company headquartered in Las Vegas, Nevada. The company owns The Venetian Resort Hotel Casino and the Sands Expo and Convention Center, where it hosts exhibitions and conventions, in Las Vegas and the Sands Macao in the People's Republic of China Special Administrative Region of Macao. The company is also developing additional casino hotel resort properties in Macao, including The Venetian Macao Casino Resort.
The “COTAI Strip” and “Asia’s Las Vegas” marks are trademarks of Las Vegas Sands Corp.

Lai Sun Group unit eSun Holdings and its American partners put the price tag on their planned hotel-casino-retail-TV studio complex in Macau at US$2 billion (HK$15.6 billion) assuming their request to almost double its floor space wins government approval.

RaymondWang

Tuesday, April 25, 2006


Lai Sun Group unit eSun Holdings and its American partners put the price tag on their planned hotel-casino-retail-TV studio complex in Macau at US$2 billion (HK$15.6 billion) assuming their request to almost double its floor space wins government approval.
eSun executive director Ambrose Cheung Wing-sum estimated construction will cost up to HK$9.36 billion, or HK$1,500 per square foot. The 1.52 million-square-foot site in the Cotai reclamation area is valued at about HK$4.68 billion.

eSun and its US partners will each contribute HK$780 million as working capital. eSun said additional funds for the project could come from international capital markets or an initial public stock offering.

The partners hope to increase the size of the project to 6.6 million sqft, up from the 3.66 million sqft in the existing approved building plan.

eSun, which produces films and television shows, is to receive HK$1.32 billion from selling a 40 percent stake of the Cotai project to its partners, US- based hedge fund Silver Point Capital and former Las Vegas Sands executive David Friedman. The payment could rise to HK$2.97 billion depending on whether the expansion plan is approved and other conditions.

The project will feature two five-star hotels and hotel apartments along with a television/film studio, a concert hall, convention and exhibition facilities and a retail complex.

The deal gives the US partners the option of leasing 200,000 to 500,000 sqft for gaming or other entertainment at minimum rent of US$25 million a year. Friedman said the casino will have about 300 tables. Analyst Karen Tang of Deutsche Bank said the partners are in talks with existing Macau gaming operators.

Friedman said sections of the project will begin opening in early 2009 and be fully complete by early 2011.

Silver Point, which has about US$5 billion under management, focuses primarily on distressed debt. Until December, Friedman headed up the US$1.8 billion Cosmopolitan mixed-use project, similar to the Cotai venture, in Las Vegas.

Shares of eSun fell 10.4 percent Monday to HK$6 after initially surging to a 52-week high of HK$7.30 when morning trading began. Shares of eSun parent Lai Sun Development, which owns the Ritz Carlton Hong Kong and other hotels, jumped 7.8 percent to 41.5 HK cents after it said it expects to book a gain of HK$440.6 million from the Cotai deal.

Steve Wynn said that he's considering building a Ferrari themed hotel on Cotai Strip at his conference call. In fact, Wynn Las Vegas sold more Ferraris than other dealers in North America.

Yum. As if Macau had any room for such cars to rip around anyway. Wynn should use that as a distribution base for the luxury car demand in the Pearl River Delta.

do u guys see any ferrari around the streets in macau ?

Wherever had you bought that idea?

Sorry, What is your source van_gogh?

http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-irhome

last bit of the conference call

It's on the news, such as the hong kong standard.

The only place in HK/Macau that a Ferrari would be useful is...........the racetrack. Sorry.

Wynn Resorts is in talks to open a hotel under the Ferrari brandname as part of its planned Cotai casino resort project.

ZachColeman

Friday, May 05, 2006


Wynn Resorts is in talks to open a hotel under the Ferrari brandname as part of its planned Cotai casino resort project.
Gaming company chairman and chief executive Steve Wynn disclosed the negotiations during a teleconference with analysts about the company's first- quarter results Thursday morning Hong Kong time.

Gradually, the company has been fleshing out its second project in the enclave, a resort complex that would sit next to the HK$8 billion City of Dreams development amid the mega-casinos under construction in the reclamation area between Taipa and Coloane islands.

Wynn promised to put his cards on the table by the next quarterly call.

Phase one of the company's first Macau project - the US$1.1 billion Wynn Macau casino hotel in the shadow of the Lisboa Hotel on the main peninsula - is slated to open September 5.

The company said in March that it had applied to the Macau government for a 21.9-hectare site on the Cotai Strip to develop four hotels, three with casinos. Wynn said Thursday: "I'm talking to Luca di Montezemolo, the chairman of Ferrari, and we're talking about doing one of our hotels as a Ferrari hotel."

Wynn Resorts' only existing property, the Wynn Las Vegas, has an onsite Ferrari dealership that can be visited for US$10 (HK$78) a head. Wynn said Thursday that the showroom sells more Ferraris than any other dealership in the world.

Late last year, Italian sportscar maker Ferrari signed a deal with United Arab Emirates developer Aldar Properties for a Ferrari theme park in Abu Dhabi. The development is to open in 2008 and include a race track, rides, hotels, shops and homes.

Wynn signaled Thursday that his Cotai project will also include convention halls. "A very aggressive convention program ... is going to be part of our land use," he said. "We share some of the other companies' views that Macau has a bright convention future and that we will be able to sustain large amounts of midweek occupancy with groups that will come to Macau for meetings and conventions."

Late last year, he had said his Cotai hotels would ring a mall, commenting that conference centers rarely generate much profit and that he just needed to set up his project near others' halls.

Rival Las Vegas Sands is developing 1.8 million square feet of meeting space in its Cotai resorts.

Wynn said Thursday that the completion of the second phase of the Wynn Macau had been pushed back a quarter to the end of 2007 to allow more time to fine-tune its design after the first phase opens. "Everybody in the gaming industry knows that experience is absolutely the most powerful factor in our success and we have none there," he said.

He added that he is certain the hotel will draw new visitors to the SAR. "I know a lot of our customers want to go to Macau," he said. "What surprised me is the fact that people from America or customers of Wynn Las Vegas want to go to China. They are waiting until we are open to go because they feel that for the first time they will have the kind of facility that is up to their standards."

The only place in HK/Macau that a Ferrari would be useful is...........the racetrack. Sorry.

Are you talking about Guia Circuit? :D

http://www.midland.com.mo/ebook/manhattan/main_lg.jpg

Name : 曼克頓 The Manhattan

Address : Quarteirao 42, Lote D/F, Taipa Island, Macau

Developers : MacauLand Developments

Number of Towers : 2 (North Tower - 35 Storey and South Tower - 37 Storey)

Number of Apartments : 175

Number of Carparks : 321

Completion Date : 2007

As per the Oasis project, looks like there is going to be allot of jockeying for land on Cotai.

Macau Chief Executive Fernando Chui said the Special Administrative Region of China may seek to reclaim land promised to casino operators, with the sites being used for other development purposes.

Several analysts and gaming company insiders wrote off the comments as political posturing. But others thought Chui ... was looking to slow casino development, telling Las Vegas-based gaming operators they need to submit plans for the sites, predominately on Macau's Cotai Strip region, or lose the locations.

Chui told media after his prepared remarks the government would follow all legal procedures to reclaim land not being developed.

"The whole process will be made very transparent, but the land has to be taken back and some of it will be used for social housing," Chui said.

http://www.lvrj.com/business/macau-may-take-back-land-promised-to-casino-operators-87863942.html

This follows from SJM and also Pansy Ho complaining about Galaxy concession back in NOV09.

The 440,248 square metre land parcel is the largest piece of land granted for private development by the SAR government since it was established. The total area is even bigger than that of the Venetian’s ‘Cotai Strip’ project. The premium is around 2.924 billion patacas.
Meanwhile, Managing director of MGM Grand Paradise, Pansy Ho Chiu King, strongly criticizes the deal. She has said earlier that she was trying to understand whether the Macau government was giving privileges to an individual gaming operator.
In a phone interview on Tuesday, Ms. Ho told the Macau Daily Times the delays of approving a land concession to MGM are hurting the company.


http://www.macaudailytimes.com.mo/interview/5798-Pansy-and-the-land-concessions-There-are-clear-guidelines.html

http://www.macaudailytimes.com.mo/macau/6219-Govt-denies-allegations-Galaxy-land-deal.html

How about this monster project of 26 buildings to be located across from the airport. No construction action to date, but still listed on China Estates site.

* Development comprising 1 Serviced Apartment Tower & 25 Residential Towers on top of a landscaped garden podium with Carparks and two Clubhouses.
* Situated at the Cotai of Macau, adjacent to the future Cotai Strip, Macao University of Science and Technology and the Macau International Airport, the Development enjoys unbounded sea view of South China Sea at the front and greenery mountain view of Tai Tam Hill Country Park at the rear. (as long as that lasts!)
* Whole development will be developed into 4 phases and Phase 1 anticipated to be completed in 2010.

http://www.chineseestates.com/eng/PropDetails/65/97/951.aspx


There is old thread China Estates.











Cotai to generate 15,000 more jobs in 18 months
10/06/2010 03:18:00

Cotai will create ‘15,000 to 17,000 job opportunities in the next 18 months,’ said the president of City of Dreams
The Cotai integrated resorts will create “15,000 to 17,000 job opportunities in the next 18 months,” the City of Dreams president Greg Hawkins, told Macau Daily Times yesterday. Also, during the 2010 Global Gaming Expo Asia, the principal investor relations at Galaxy, Peter Caveny said that the “whole market will change in the next 12 months.” By the end of this year, Melco Crown’s City of Dreams plans “to double the size of the retail shopping precinct,” with 50 more stores, the co-chairman of Melco Crown, Lawrence Ho, said last week.
Cubic nightclub will also open soon, added Ho, followed by the Hard Rock Poker Lounge and Hard Rock Café. The Galaxy Macau resort in Cotai is scheduled to open “in early 2011,” confirmed the Galaxy Entertainment Group last month.
Hawkins said that City of Dreams currently has around 8,000 employees, while The Venetian has more than 10,000. He predicted that the next facilities expected to open by the end of 2011 are likely to almost double the number of staff working in Cotai.
The creation of 15,000 new jobs will be “huge compared to Macau’s small labour market,” Hawkins acknowledged. The vacancies could be good news for the 9,600 residents unemployed in Macau.
Asked whether the new law on imported labour, which came into effect on April 26, could limit the ability for Galaxy and Melco Crown to meet its staff needs, Hawkins showed optimism.
“The protection of job opportunities for local residents is completely understandable,” he emphasized. On the other hand, the City of Dreams president said the SAR Government “has always been very open” to the demand for non-resident workers. “The key will be getting the balance right,” he added.
The executive vice-president for marketing operations at Sands China, Kevin Clayton, also believes Cotai “is at a tipping point” for “it will have six world class destinations by 2011.” Galaxy’s Peter Caveny went one step further and assured “the whole market will change in the next 12 months,” all because of the Guangzhou–Zhuhai Intercity Mass Rapid Transit (MRT).
The fast railway system will bring to Macau “around 400,000 people a day,” the Galaxy executive predicted.
The Guangzhou–Zhuhai MRT is due to start its operations this year in time for the 2010 Asian Games, held in Guangzhou, from November 12-27.

I guess it should have been titled - 17,999 lowly paid construction jobs to be created, valid for the next 18 months.
Then pack and leave.

Where on hell are 400,000 people per day going to fit in?
This is extra to the ones already coming through other entries and bear in mind the populations is only 500,000!

I think he means 8000 jobs at the galaxy, okura, banyan tree when it opens 2011 and maybe 10000 at the shangri-la, traders, st regis, etc when they open, I am not sure the construction jobs are taking into consideration

What do you mean? I dont understand
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I meant that the bulk of jobs generated are temporary (construction) and after construction, most of the jobs (the bulk of the workforce) is hotel maids, cleaning people, etcetera.

Only a minority will make enough money to rent a decent place and the majority of expats will stay in Macau for 1 or 2 years and not bother to purchase. Most expats earning in the MOP20,000 to MOP30,000 cannot afford a MOP4 Million loan. And it is getting difficult to find something new with more than 1000 sq.ft "so cheap"! Especially when you can rent much bigger and better for 8,000 or 9,000.

If you get a loan of 1 Million at 2.2 pa for 20 years that makes an interest + principal payment of around HKD5,500 per month. If we are talking about properties in the high 3 to mid 4 Million range, that's over HKD15,000 to HKD22,000 for a cheapo low quality new apartment. Bear in mind the Macau average salary is HKD8.000 per month and hotel maids and lower hotel jobs will make less than that.

From a rental perspective, the whole thing also does not make sense - rent will usually be 1/3 or less of the equivalent mortgage and no ownership fuss. Other markets the ratio can be 1/2 or even closer.

That's why I made the remark on the 18,000 jobs to be created! It is utterly irrelevant as only a fraction of those will be buying apartments anyway.