A unit of the group promoting the new Grand Lisboa Palace casino project in Macau has signed a deal with China’s leading duty-free retailer for the latter to be an “anchor” mall tenant at the new venue.
A Thursday press release from Sociedade de Jogos de Macau SA said China Duty Free Group Co Ltd would have its first non-airport retail unit in Macau at Grand Lisboa Palace. The outlet will be circa 7,500 square metres (80,729 sq feet).
SJM SA is a unit of Hong Kong-listed SJM Holdings Ltd and holds the current Macau gaming concession for the casino business founded by former monopolist Stanley Ho Hung Sun.
The whole resort, located in the Cotai district of the city, is to cost approximately HKD36 billion (US$4.6 billion) and is due to open in the second half of 2019, shortly before the expiry of SJM Holdings’ current Macau gaming rights in 2020.
The whole mall (pictured in an artist’s rendering) at the property will be 53,000 square metres, according to Thursday’s announcement.
Charles Chen, president of the Chinese duty-free operator, said in a prepared statement issued by SJM SA: “Macau [welcomed] 32.61 million visitors in 2017, amongst which 90.3 percent were tourists from Greater China.”
He added: “As a Chinese duty free company with deep understanding of the Chinese consumers, China Duty Free Group’s new duty-free store will bring even more quality products and shopping experience to customers, supporting Macau’s positioning as a world centre of tourism and leisure.”
Ambrose So Shu Fai, chief executive of SJM Holdings, said in his prepared comments that the newly-announced tenant would “enhance the retail offerings” of the new resort.
China Duty Free Group is a subsidiary of China International Travel Service Group Corp Ltd, the latter said to be China’s largest travel company.
Nov 24, 2020October visitor arrivals to Macau grew by 29.6 percent month-on-month, said on Tuesday the city’s Statistics and Census Service. Judged year-on-year, October’s 581,986-aggregate was down 81.9...
Nov 24, 2020
Nov 24, 2020
"Unfortunately, I cannot come to Macau nor can any of my team. The global pandemic has created a situation that is very difficult for all of us … I am very hopeful that we can come to Macau to bring back a reimagined House of Dancing Water"
Creative director of the House of Dancing Water show