Macao’s newest luxury mall M8 held its soft opening yesterday, according to an official statement.
Situated only 50 metres away from Senado Square, one of Macao’s busiest areas, the 9-storey M8 centre hopes to attract foot traffic with its diverse range of luxury offerings.
However, its opening comes as many local retailers struggle for business, facing stiff competition from mainland Chinese cities where goods are cheaper. Mainland Chinese visitors to Macao are also spending less on luxury goods in light of the nation’s uncertain economic outlook.
M8 hopes its offerings will buck the trend. The first two floors feature an anchor store selling more than 120 local and international brands of watches, food, gifts and beauty products.
[See more: With Macao’s luxury market in apparent decline, how important is the IVS?]
Floors 2 and 3, meanwhile, are occupied by the Fashion Square (TFS), a store that houses a variety of international fashion labels under one roof, as well as travel boutique Euro Galleria by Oliver, and a Korean restaurant.
The fourth and fifth floors are reserved for two restaurants that will open next month – Hong Kong’s Modern Shanghai Imperial, and Mango Tree, a Thai establishment. Visitors on the fourth floor will also be able to enjoy a sweeping view of the city’s historic district from a rooftop garden.
Two basement floors will be used at a later date for exhibitions, with management wanting the space to play a role in “enriching Macau’s cultural life.”
The M8 mall is housed in a building originally designed by local architect Oseo Acconci. It formerly served as apartments for post office workers following its opening in 1963 at a cost of more than 500,000 patacas.
