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MACAU BUSINESS
by Alan Tso Photographs by António Mil-Homens
Action Man
From jeweller to property and hotel tycoon, Cheng Yu Tung has
stamped his mark on the business community over the last half
century. Renowned for his bold and innovative moves, his latest
venture in Macau is set to scale new heights in the gaming business
T
hese days in Macau, the opening of a new
multi-million dollar casino is no longer From gold to concrete
treated with major fanfare. However, the The man behind L’Arc is Cheng Yu Tung, one of
property which opens its doors on Hong Kong’s wealthiest men and Chairman of New
September 21 is more than just an World Development – a Hong Kong-listed
entertainment complex. It is in fact, the likes of which conglomerate that engages in property, hotel,
Macau has not seen before. infrastructure and services.
Standing 56 storeys tall, L’Arc is a brand new The upmarket condo development is not Cheng’s
concept in the city – offering homebuyers the chance first venture in Macau. In fact, the 83-year-old tycoon
to live atop a glitzy casino hotel. is no stranger to Macau people because he owns one
With a total investment of more than HK$4 of the oldest and best-known jewellery stores in town,
billion and employing 2,000 plus staff, the soaring Chow Tai Fook.
mixed-use condominium houses the 33rd casino in It is hard to find a local who has not heard of the
the gaming haven, and provides 301 hotel rooms as jewellery chain store, which has more than 800
well as 38 suites. It is surrounded by the StarWorld, outlets in Greater China.
MGM Grand and Wynn properties, and the In addition, Cheng has invested in Macau’s water
Landmark and Grand Lisboa are within walking and power companies, and holds an undisclosed
The newest in town distance across the road. stake in Stanley Ho Hung-sun’s S.T.D.M. – the parent
In short, L’Arc sits in an area that is already densely company of local gaming firm SJM that controls the
populated with Vegas-style casino hotels. But what Lisboa casino hotel.
Architecture & Design makes it stand out among its rivals are the high-end Cheng’s personal success story began in Macau
Construction of the L’ Arc residential units on top of the casino hotel, which where he worked as an apprentice at Chow Tai Fook
Macau were snapped up by
eager homebuyers and
Building Height: 209.90m investors by the end of
Total storey: 56 2006 - before the
Residency storey: 23-56 project was even
Hotel Room storey: 9-21 completed.
Gross Construction Floor The luxury homes
Area (including car park): at L’Arc were pre-sold
164,983.843m2 during the peak of
Total site area: 7128m2 Macau’s property
boom, and as a result,
Exterior were able to fetch
The architect behind the about HK$5,000 per
project was Wong & Tung square foot on
International Limited. average. In this sense,
the mixed-use project
is already a success
The newest hotel and casino even before the first
in fast facts dice have been rolled.
Games:
12 OCTOBER 2009
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