China State unit US$285mln deal for Galaxy Phase 4 facade

Jun 09, 2022 Newsdesk Latest News, Macau, Top of the deck  

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China State Construction Development Holdings Ltd says one of its units has won a HKD2.24-billion (US$285.4-million) subcontract for the façade work on Phase 4 of the Macau casino resort Galaxy Macau.

“It is expected that this project will be the largest single contract amount” for “facade construction… in the world,” said China State in a press release on Tuesday.

The deal has gone to Far East Facade (Macau) Ltd, a wholly-owned subsidiary of the company.

Galaxy Macau is promoted and being developed by Hong Kong-listed Galaxy Entertainment Group Ltd.

The Macau casino operator said in February last year it had signed a MOP13.01-billion (US$1.63-billion) deal with a local unit of the China State Construction group for the building of Galaxy Macau Phase 4.

In mid-May, Francis Lui Yiu Tung, deputy chairman of Galaxy Entertainment, had said building of Phase 4 could be completed “in 2024″.

Galaxy Phase 3 and 4 combined – which the operator describes as having a “strong focus on non-gaming” – will provide approximately “3,000 high-end and family rooms and villas”, and a 16,000-seat, multipurpose arena. There will also be space for meetings, incentives, conferences and exhibitions (MICE) business, food and drink outlets, and shops, as well as casino facilities, according to the firm’s most recent results filing.

In September last year, Galaxy Entertainment’s management had said – as cited by banking group Morgan Stanley – that the combined capital expenditure for Phase 3 and Phase 4 would be between HKD40 billion and HKD50 billion.

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