Galaxy to proceed with luxury Hengqin development

    Galaxy Entertainment said it will move forward with plans for a RMB10 billion ($1.6 billion) luxury resort on China’s Hengqin Island neighbouring Macai. The property includes about 2.5 kilometres of waterfront coastline. UBS Securities said the project is likely to involve hotels, marinas and sports facilities. It said, given the large scale of the project, the build-out will be long term in nature. “We hope to build an iconic product which is five-star and leverages on the coastline, on land, on sea to offer entertainment facilities,” Deputy Chairman Francis Lui told reporters at an earnings briefing. Galaxy may look to build villas over water as seen in the Maldives.