Even as the financial crisis stalls projects in Macau such as the ambitious Cotai Strip project of tycoon Sheldon Adelson, enterprise cannot be stifled completely.
Shun Tak Holdings this week gave the nod to the Jumeirah Group to manage the Jumeirah Macau Hotel, also in the Cotai district.
While still set to open in 2013, hopefully when the global economy is back on track, the hotel will feature guestrooms with a view of the Macau Dome where major events in the city are staged. Design and configuration of the property have yet to be finalised.
Pansy Ho, managing director of Shun Tak and daughter of Macau icon Stanley Ho, said: “The project came about at a time when some market players are uncertain about the future. Shun Tak’s view of the Macau economy is long term. We remain positive that its fundamentals are strong and sound, and will continue to invest in its future, trusting that it will be one of the first destinations to recover from recent market adjustments.”
Margie T Logarta