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.
The municipal government told reporters on Monday that Yokohama’s long period of indecision had ended and that Mayor Fumiko Hayashi would announce later in the week that her city would seek to host a major urban IR at the 47-hectare Yamashita Pier location.
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