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Old January 21st, 2006, 02:46 AM   #41
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HK Shun Tak: New Site For Macau Project After Land Swap
20 January 2006

HONG KONG (Dow Jones)--Shun Tak Holdings Ltd. (0242.HK), a Hong Kong-based conglomerate controlled by Macau casino owner Stanley Ho, said it will move its planned Cotai development project in Macau to the Cotai strip.

The company said the original site was dropped because of environmental constraints that would have hampered development.

Shun Tak, which is managed by Stanley Ho's daughter Pansy Ho, will build the project through a joint venture with Sociedade de Turismo & Diversoes de Macau, which has gambling, hotel, aviation and property investments in Macau.

Shun Tak, which paid HK$500 million for the original site, sold a 20% stake to STDM for HK$100.2 million.

The conglomerate said the location of the Cotai development, originally planned on the border of Cotai, was moved to the strip after it decided to arrange a land swap through the Macau government. It hasn't disclosed the exact location in Cotai where the project will be built.

Cotai is a new area of reclaimed land on the south side of Macau. Foreign and local investors in Macau's gaming industry hope this will be Macau's Las Vegas Strip.

Shun Tak said that because of its close relationship with STDM, it can secure the best possible terms for the lease and operation of future casino projects. Stanley Ho owns a 14% stake in Shun Tak, and Shun Tak owns 11.5% of STDM.

Shun Tak also revised its Nam Van casino and hotel project in Macau to 3.8 million square feet from 2.7 million square feet. It is scheduled to be completed in 2009.

JPMorgan upgraded Shun Tak's price target to HK$9.4 from HK$9 on news of the development Friday. Shun Tak shares closed up 3.7% Friday at HK$8.45.

The company also confirmed Thursday it had mandated HSBC Holdings PLC (HBC) to syndicate a HK$4 billion loan to fund its Macau developments.
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Old May 3rd, 2006, 08:52 AM   #42
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New Projects

Are there any new updates in the new projects?? Would appreciate if anyone could give information on new projects in the planning or design stage or just started construction.....
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Old May 3rd, 2006, 11:03 AM   #43
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a lot of new projects but its very difficult to keep on track
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Old July 29th, 2006, 04:24 PM   #44
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The Meridian Court next to Pui Ching Middle School were topped out already and the building is 40 storey height. but i ont have any pics for the rendering, the building looked so giant when i walked pass the site. I guess the building will be complete sometime next year.
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Old February 2nd, 2007, 07:24 AM   #45
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Why are there so few posts on construction in Macau ???
There are so many projects taking place.

Surely there must be rooom for people investing in property in Macau to discuss items ??

Where can we get info for property prices ??

i.e. new development that should be discussed
1. One Central (since launch in late Nov 2006, prices have risen to HKD6300psf from average of 4400psf). I may open a thread on this, but maybe in HK forum. This directly led to 25% price increase in new projects in Macau in 3 mths.
2. Nova City (prices now ave HKD2500psf). In November it was 1700-2000psf
3. Manhattan (around 2800-5k)
4. Praia
etc etc
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Old February 2nd, 2007, 07:06 PM   #46
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Because each project deserves its own thread. This thread hasn't been updated for a while...
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Old February 3rd, 2007, 08:55 AM   #47
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Hi ggaaxx !
I normally look at the Singapore threads, and they have much more discussion on property projects. Maybe with the buzz in Macau more people will start looking at these posts!!

I am a HK based investor, who now has interest in Macau & Singapore. Was going to buy in Nova city. Agent told me prices were 1700psf for 4 bedder before One Central. Was thinking about it ..... but now at 2.5k ??

At least One Central now seems to being well also with HKD6.3k psf a recent transaction !!

Wondering if there are any bargains left in Macau ???
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Old February 3rd, 2007, 09:14 AM   #48
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Quote:
Originally Posted by ggaaxx View Post
Because each project deserves its own thread. This thread hasn't been updated for a while...
Guess I'll do my bit. I'll upload some pics from my investment trip to Macau soon !!!
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Old February 6th, 2007, 05:52 PM   #49
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Thanks. We look forward to it.

You're right there is not much discussion in this forum but most news here should be up-to-date.

I'm no investor whatsoever, but if you're interesting in investing in Macau, make sure you know who's the construction company. There is a corruption case related to several construction companies recently. Maybe you already know all that....
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Old February 9th, 2007, 05:32 AM   #50
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Quote:
Originally Posted by ChauTauVillager View Post
Why are there so few posts on construction in Macau ???
There are so many projects taking place.

Surely there must be rooom for people investing in property in Macau to discuss items ??

Where can we get info for property prices ??

i.e. new development that should be discussed
1. One Central (since launch in late Nov 2006, prices have risen to HKD6300psf from average of 4400psf). I may open a thread on this, but maybe in HK forum. This directly led to 25% price increase in new projects in Macau in 3 mths.
2. Nova City (prices now ave HKD2500psf). In November it was 1700-2000psf
3. Manhattan (around 2800-5k)
4. Praia
etc etc
These projects were discussed at the time they were launched! But I agree that the speculators have driven Macau prices through the roof.

All they do is buy low and when the prices go up before completion they sell hopefully for a gain. As history has shown back with the had-over, Macau is left behind with sorting out the mess i.e. property crash.

Let's be honest here, the standard of finish of these projects are often poor, look around Macau and you will see those monuments!
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Old February 9th, 2007, 07:23 AM   #51
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ggaaxx:
RU based in Macau ??? You seem to be everywhere !! And yes, I made sure mine was HK Land. However this is no guarantee - a lot of developments by HK's richest man have run into difficulties in China, Singapore, even HK.

A2ZMacau:
I think this boom is different this time. True speculators are there to make money and when things go wrong, it may be the locals have to pick up the mess (tho note, speculators can also get burnt spectacularly). Also, I think Macau has not been too affected by bubbles bursting - things eventually recover. You may get uncompleted buildings in the meantime, but they will eventually complete (look at Bangkok 97).
This is different as Macau is going thru a fundamental shift. It has a chance to catch up with HK - permanently. The class of investor is different (not much local, but very international so not in for just 1 year).
I may sympathise in that some Mecanese may complain about the price of flats, but my understanding is that most already own their own house, and that their home has gone up in value. Also, local will get an even lower unemployment rate and wages will rise, so there will be a win for most locals. Of course, income differentials may increase, but that has happened in HK and many other places (say Singapore and London, where mass-market locals cannot pay the higher prices for a nicer flat).

I have noted that finishing is poor in the oldish (even 5 yrs) developments. Possibly due to lower maintainence standards etc, and also these were completed pre-boom (i.e. built cheap, sold cheap). Also, generally, things built in boom times are worse (i.e. too much rushing, poor skills by contractors as they hire anybody).
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Old February 9th, 2007, 02:54 PM   #52
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As mentioned some pics. However seem to have difficulty loading pics, so not too many.
First is a driveby so blurry. It doesn't look too large. Next is a longer distance shot. Should show the scale. Last pic is of another development,not sure which (galaxy ??) next (north west) of the Venetian. It looks almost as large.

Last edited by ChauTauVillager; February 9th, 2007 at 03:38 PM.
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Old February 9th, 2007, 04:37 PM   #53
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Quote:
Originally Posted by ChauTauVillager View Post
ggaaxx:
RU based in Macau ??? You seem to be everywhere !! And yes, I made sure mine was HK Land. However this is no guarantee - a lot of developments by HK's richest man have run into difficulties in China, Singapore, even HK.

A2ZMacau:
I think this boom is different this time. True speculators are there to make money and when things go wrong, it may be the locals have to pick up the mess (tho note, speculators can also get burnt spectacularly). Also, I think Macau has not been too affected by bubbles bursting - things eventually recover. You may get uncompleted buildings in the meantime, but they will eventually complete (look at Bangkok 97).
This is different as Macau is going thru a fundamental shift. It has a chance to catch up with HK - permanently. The class of investor is different (not much local, but very international so not in for just 1 year).
I may sympathise in that some Mecanese may complain about the price of flats, but my understanding is that most already own their own house, and that their home has gone up in value. Also, local will get an even lower unemployment rate and wages will rise, so there will be a win for most locals. Of course, income differentials may increase, but that has happened in HK and many other places (say Singapore and London, where mass-market locals cannot pay the higher prices for a nicer flat).

I have noted that finishing is poor in the oldish (even 5 yrs) developments. Possibly due to lower maintainence standards etc, and also these were completed pre-boom (i.e. built cheap, sold cheap). Also, generally, things built in boom times are worse (i.e. too much rushing, poor skills by contractors as they hire anybody).
yea, just look at some of those newly completed apartments in macau, it looks so tacky
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Old February 9th, 2007, 07:43 PM   #54
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Quote:
Originally Posted by ChauTauVillager View Post
ggaaxx:
RU based in Macau ??? You seem to be everywhere !! And yes, I made sure mine was HK Land. However this is no guarantee - a lot of developments by HK's richest man have run into difficulties in China, Singapore, even HK.

A2ZMacau:
I think this boom is different this time. True speculators are there to make money and when things go wrong, it may be the locals have to pick up the mess (tho note, speculators can also get burnt spectacularly). Also, I think Macau has not been too affected by bubbles bursting - things eventually recover. You may get uncompleted buildings in the meantime, but they will eventually complete (look at Bangkok 97).
This is different as Macau is going thru a fundamental shift. It has a chance to catch up with HK - permanently. The class of investor is different (not much local, but very international so not in for just 1 year).
I may sympathise in that some Mecanese may complain about the price of flats, but my understanding is that most already own their own house, and that their home has gone up in value. Also, local will get an even lower unemployment rate and wages will rise, so there will be a win for most locals. Of course, income differentials may increase, but that has happened in HK and many other places (say Singapore and London, where mass-market locals cannot pay the higher prices for a nicer flat).

I have noted that finishing is poor in the oldish (even 5 yrs) developments. Possibly due to lower maintainence standards etc, and also these were completed pre-boom (i.e. built cheap, sold cheap). Also, generally, things built in boom times are worse (i.e. too much rushing, poor skills by contractors as they hire anybody).
Thank you for pictures as promised. There are many buildings I'm not familiar with even though I was in Macau 4 years ago. Many people from outside are eying on the Macau market right now and you're right that those construction companies are aware of that and rushing to put their properties to the market.

When I was working for a construction company there, we had one person to monitor one to two projects at the same time. And I realized it was very common in Macau back then. If it is still the way they work, with only little time and limited resources but some many projects are going on simultaneously, the quality of the constructions may just head south.

I'm not based in Macau but this is my home forum. You see me everywhere because I'd like to keep my eyes and ears, sometimes month open. Glad to have you here ChauTauVillager.
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Old February 9th, 2007, 07:44 PM   #55
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Investment immigration programme "should be suspended"

If you're investing from outside, this may be an interesting read.

Legislators demanded suspension of investment immigration programme, expressing concerns that apartments have become unaffordable among locals.

In interviews with daily newspaper Jornal Va Kio, Ng Kuok Cheong (吳國昌) pointed out that land concessions with prices much lower than market values had resulted in an increased supply in real properties, while there is no increase in cash supply.

Although this should slow house price hikes, increase in Renminbi value and economic development means that capital from mainland China may target Macau properties for speculation.

Meanwhile, Kwan Tsui Hang (關翠杏) pointed out that situation has changed since the implementation of investment immigration policy.

The original purpose of such policy was to digest the over-supplied property market. With even an old apartment unit being sold for MOP 1 million, and criteria for investment immigration also at MOP 1 million, it will only result in poor quality investments.

She also expressed concerns that Macau's social infrastructure cannot cope with the load of these new immigrants.

She said that more social and economic housing are actually needed for local people, especially young people, but easy home-buying schemes for immigrants means that inequality exists between the locals and people from outside Macau, exacerbating the dissatisfaction of locals on the Government.

Jornal Va Kio also reported that the Government is "likely" to review existing investment immigration policy.

source
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Old March 2nd, 2007, 12:34 PM   #56
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Back frm CNY. Wishing everyone another great year !!1

I don't think the immigration policy will stop with the new jobs to be needed (businesses will demand it !). However, I can see the entry price raised as 1m MOP is low !!

If they raise it to 2-3M, I wonder if that means people will buy more expensive housing ?? I doubt they will by 2 or 3 1m MOP instead.

Since I now qualify for this immigration policy, I'm wondering if I should apply ... Not sure if there are substantial benefits for me as I have HK and overseas passports already, but for China residents there are bonuses for sure (better visa free access, double taxation policies on investments in China etc).

Also, re construction, pls see thread on One Central. Have posted some pictures of the model of Macau peninsula, and it looks great !!
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Old March 2nd, 2007, 07:15 PM   #57
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Where do you live most of time? I know public health care used to be good in Macau, but don't know about now. I agree the immigration policy mainly targets the people from mainland.
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Old March 3rd, 2007, 08:57 AM   #58
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Quote:
Originally Posted by ggaaxx View Post
Where do you live most of time?
Am a HK based investor fm the UK/HK. Used to go to Macau for the food !!
Cheap, excellent. With the new casinos, food is prob better (several Michelin ranked chefs opening shop there recently). Tried Wynn food when last went there.

Food is now expensive at these new places (same as 5-star HK hotels).

Am invested in Macau, and interested in the property sector due to the Casinos. This followed something similar I did in Singapore as they are also building a casino. Re: casino's though I gamble a bit, don't really like them. So last trip I lost, but expect to gain much more later elsewhere !!

I hope and believe Macau will become a much better destination, away from just gambling.
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Old March 4th, 2007, 11:12 PM   #59
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MACAU PROJECTS

MACAU STRIP



MGM MACAU



WYNN MACAU



VENETIAN MACAU

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Old March 5th, 2007, 05:12 PM   #60
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Do you know if those companies are relocating people from Vagas to Macau, ALKUN?
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