The property was originally developed for almost five times that sum, but struggled owing to its location, lack of gaming facilities, and the Covid-19 pandemic.
Business
MGM already has them, Galaxy and Melco will soon, and the other operators won’t be far behind, according to Goldman Sachs.
The 2024 expo is set to celebrate the SAR’s 25th anniversary – as well as Belt and Road success stories – across the final weekend of April, at the Venetian.
The government organised event will promote sustainable development in different industries through related talks, networking, exhibitions and more.
The real estate sector has demanded an end to taxes on home buyers, slamming the cooling measures as ‘no longer applicable’ in a declining market.
If this pace continues, the Macao government is set to easily exceed its annual budgetary forecast of 83.61 billion patacas in fiscal revenue.
Realtors are calling on the government to remove all market cooling measures in a bid to revive investor interest.
The agency is optimistic about Macao in 2024, but warns that policy changes and a slowing economy in China could impact the SAR’s ongoing recovery.
Only a quarter of the number of Japanese tourists who came to Macao in the year before the pandemic ventured to the SAR in 2023.