The Office of the Secretary for Economy and Finance (known by its Portuguese initials (GSEF) will take the reins on the government’s ongoing project to revitalise six historic areas across the city. The initiative, undertaken in partnership with Macao’s six casino operators, had been overseen by the Secretariat for Social Affairs and Culture since its 2023 launch.
Secretary for Economy and Finance Anton Tai Kin Ip made the announcement at the Legislative Assembly yesterday, the Macau Post Daily reports. He said that the government would soon convene a meeting with the gaming concessionaires to review their progress on the districts that each has been allocated.
Tai also noted that each of the earmarked areas would be transformed into a “community-based commercial circles,” a concept borrowed from urban developments in the mainland. These areas are self-sustaining local business ecosystems tailored to meet the daily needs of nearby residents while leveraging the sites’ unique historical and architectural characteristics to attract tourists.
[See more: Macao lawmakers question pace of non-gaming investments by casino operators]
The six areas being revamped are the Lai Chi Vun Shipyards (in partnership with Galaxy); Rua da Felicidade (Wynn); Barra, including the A-Ma area (MGM); the Iec Long firecracker factory and its surroundings (Sands China); the Avenida de Almeida Ribeiro area, specifically Piers 14 and 16 and Macau Palace, formerly a floating casino (SJM); and the Inner Harbour Piers 23 and 25 (Melco).
The revitalisation projects are part of the casino operators’ contractual commitments to invest a collective 130 billion patacas (US$16.2 billion) in non-gambling infrastructure during their current 10-year concessions. Lawmakers recently raised concerns about the pace at which these investments were progressing.
Under the new arrangement, Tai said his portfolio was now tasked with advancing the projects, while the Secretariat for Social Affairs and Culture would provide necessary support and assistance.
