*By Therese Tu
The upcoming Treasure Island Resort World hotel and mall at Nam Vam Lake near Praca Ferreira Amaral will not include a casino, in line with Chinese national policy that hopes Macau could diversify local tourism offerings away from gambling, said Oliver Tong, Managing Director of JLL Macau at MNA. after a signing ceremony held today (Monday).
JLL has been appointed as the mall’s leasing and marketing consultant, partnering with Forward Fashion (International) Holdings Company Limited to open the Treasure Island Resort World Hotel and Shopping Center Macau.
Covering an area of 8,100 square meters with a total construction cost of approximately MOP 4.7 billion ($583.8 million), Treasure Island Resort World Hotel will have a total of 600 rooms and a building height of more than 70 meters.
Leisure and hospitality company Genting Hong Kong Limited, which previously held its interests in Treasure Island Entertainment Complex Limited, sold the interests in January 2021 to a company owned by local real estate businesswoman Ao Mio Leong for HK$750 million.
With business interests in real estate, leisure and hotel investments, Ao is also linked to property development company Yoho Group, which was involved in the development of the Macau Roosevelt Hotel – where the signing ceremony took place. venue – at the Macau Jockey Club ground; the Yoho Twins and the Co-Tai Marina Bay project.
In its last annual report before being divested from the project, Genting Hong Kong said it planned to develop a hotel and casino on the site.
However, the head of JLL told MNA today that no game zones will be opened in the new project, adding that this is a new direction that many brands agree with.
“National policies are not very favorable to big gambling,” said Oliver, “small gambling is acceptable, however, the central government still hopes that Macau can develop more diverse local tourism, promoting different aspects of Macau”.
The hotel’s trial operating phase of the project will begin in October this year with the final opening scheduled for December, with the project suffering several construction suspensions due to the pandemic and funding issues.
According to the property developer, the hotel will have two different styles of rooms: one is designed in the US Treasure Island style, while the other is in the Singapore Resorts World style, while all rooms will enjoy either a panoramic sea view of Macau and Taipa. views or views of Nam Van Lake.
The mall will cater to local customers, with brands and product price positioning to local residents, even though the project is located in a tourist spot near Praca Ferreira Amaral, the JLL manager said.
“When we tried to position ourselves, 60-70% of our plan was aimed at local residents,” Oliver said, “the brands in the project are also confident in the Macau market, they think Macau still has room for Development .
Parisian department store Galeries Lafayette’s fourth Greater China store will also be included in the mall, along with a 2,787 square meter Bona Film Group cinema.
Bona Film Group is one of China’s largest joint-stock film distribution companies, a Chinese mainland and Hong Kong film production and distribution company.
The mall will also include international fitness center UFC, toy retailer POP MART, global sports brand Under Armour, gaming center Beebeeland and burger brand Five Guys.
The property will also include Macau’s first large-scale outdoor Japanese-style hot springs on the third floor, equipped with outdoor temperature controls, heated pools and children’s pools.
According to Forward Fashion Founder and Chairman Patrick Fan, Treasure Island Hotel Macau will serve as a “benchmark for a new era in Macau” and promote the development of Macau’s tourism and retail industries.