Real estate fund manager, Sniper Capital, is going full steam ahead with its revitalisation of Taipa Village through the development of six new projects that will add an extra 50,000 square feet of retail and dining spaces to the popular tourist destination.
According to an official announcement, the company’s flagship project will be a centrally located five-floor building that has a total area of over 30,000 square feet and 50 metres of frontage. The development is expected to appeal to retail and restaurant tenants and will pay tribute to the businesses that were once housed in the area through a heritage style design.
In contrast, Sniper Capital’s five other properties will adopt a more modern aesthetic, covering 20,000 square feet. These spaces are intended to feature brands and outlet stores that are looking to operate in flexible premises.
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Pamela Chan, of Taipa Village Destination, a Sniper Capital affiliate, said “our latest ventures represent a substantial investment in Taipa Village’s future.” She pointed out that “an exciting decade” awaited the tourist hotspot, with the emergence of the new spaces and the increased number of young tourists, adding that the destination was developing into “one of Macao’s top destinations.”
Sniper Capital aims to gradually complete the six projects by 2025.
The company has been involved with the redevelopment of the historic Portuguese-era buildings in the village into modern retail, food and beverage spaces since 2004. Other Macao-related projects that it has been involved in include residential properties such as the Waterside and the Fountainside.
