David Chow, CEO of Macau Legend Development Ltd signed Tuesday a HK$4.2-billion loan deal with 10 banks to revamp Macau Fisherman’s Wharf.
ICBC Macau and Banco Nacional Ultramarino SA (BNU) are the lead arrangers of the HK$4.2-billion loan. There are also another eight other participating banks: Macau Branch of Bank of East Asia Ltd, Luso International Banking Ltd, China Construction Bank (Macau) Corp Ltd, Macau Branch of Wing Lung Bank Ltd. Banco Comercial de Macau, S.A.. Macau Branch of Banco Comercial Portugues, S.A, Mega Internationa] Commercial Bank Co Ltd and Macau Branch of First Commercial Bank Ltd.
David Chow, co-chairman and chief executive of Hong Kong-listed Macau Legend, said on the sidelines of the event that the wharf will require 5,000 more workers after completion in 2017.
The three-phase revamp will add new hotels offering over 1,270 rooms and facilities like a pier and a dinosaur museum to the existing 72-Rocks Hotel and Babylon Casino.
According to Business Daily the project is also expected to accommodate 350 extra gaming tables, if the government approves.
Macau Fisherman’s Wharf International Investment Co Ltd, a subsidiary of Macau Legend, secured recently a HK$ 4.2-billion loan from the Industrial and Commercial Bank of China (Macau) Ltd.
The first phase of the redevelopment, with the addition of Prague Harbour View Hotel, can become operational in the summer, namely August, said the company’s co-chairman.
Macau Legend is yet to get permits for the constructions of the latter two phases including two hotels and a dinosaur museum, Chow said.(macaunews)