GALAXY MACAU Elsewhere, conference and banquet facilities will
be increased to cater for up to 3,000 guests – plus 45 new F&B outlets, bringing the total to over 100. Construction has already begun on this
wonderfully ambitious project, with completion set for mid - 2015 from an investment of HK$16billion. The mid-2015 completion date is to coincide with planned infrastructure developments designed to improve accessibility to the region from China. They include expanding border gates at Macau and Zhuhai, creating a high speed rail network, completion of the ferry terminal at Taipa, a new fast road between Guangzhou and Zhuhai and the construction of the HK-Zhuhai-Macau Bridge, to name a few.
The plans will be financed by a combination of
existing cash, cash generated from operations and debt; GEG does not intend to issue equity. Based on the company’s history of building efficiently and delivering serious ROI, Phase 2 of the integrated resort is expected to be accretive to the Group’s earnings.
Accelerated rollout Dr. Che-woo Lui elaborated: “We have decided to
accelerate the rollout of Phase 2 based on the success of Phase 1 and to align the opening of Phase 2 with the completion of major infrastructure developments in the greater Macau region in mid 2015. These developments will serve as a catalyst for future growth and diversification of Macau’s tourism and leisure market. “To complement Phase 1’s exceptional hotel offering we are extremely pleased to be introducing Marriott International’s globally recognized luxury hotel brands including the first ever all-suite The Ritz-Carlton and the world’s largest JW Marriott. Marriott International’s core values and The Ritz-
Carlton hallmark Gold Standards underpinned by a strong understanding of Asian customers’ tastes and preferences complements Galaxy’s “World Class, Asian Heart” service philosophy.” GEG Chairman Dr. Che-
woo Lui concluded: “As we look into the future, no other operator in Macau is as well placed as GEG to take advantage of Macau’s diversification and booming growth. After the completion of Phase 2 of Galaxy Macau, we will still have 1 million square meters of contiguous permitted building area for future development. This is an area as large as the combined Phase 1 and Phase 2 of Galaxy Macau. Its development will see GEG diversify its long-term income stream by attracting an ever increasing number of new customers aspiring for a truly unique resort experience in Macau.”
Above: Phase 2 of Galaxy Macau, to be completed in 2015.
Left: The world’s largest skytop wave pool on Grand Resort Deck at Galaxy Macau.
JULY/AUGUST 2012 31
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