The Macau Metro Monitor, August 10th, 2010
OVER 20 UNUSED PLOTS COULD BE TAKEN BACK Macau Daily Times, Intelligence Macau
The Land, Public Works and Transport Bureau's (DSSOPT) director Jaime Carion said, "[After a] recent and detailed analysis of over a hundred cases related to unused plots, it's a priority to find a solution for more than two dozen." The cases include the expiration of the concession contracts, late premiums, and lack of development progress. Carion added that authorities will also review whether or not the construction of a logistic centre at a Cotai plot granted in 2006 still “fits” the overall urban plan for the area.
According to IM, the Cotai plot that SJM is trying to obtain is going to be a third-party casino developed under the SJM license. Despite all the hoopla lately on Cotai land parcels, IM thinks the land reshuffle has not begun yet.
WYNN MACAU TO PAY MOP 400 MILLION TO THIRD PARTY FOR LAND IN COTAI macaubusiness.com
In its quarterly report, Wynn Macau stated, “On August 1, 2008, subsidiaries of Wynn Resorts, Limited entered into an agreement with an unrelated third party to make a one-time payment in the amount of US$50 million in consideration of the unrelated third party’s relinquishment of certain rights in and to any future development on the 52 acres of land in the Cotai area of Macau....The payment will be made within 15 days after the government of the SAR publishes the company’s rights to the land in the government’s official gazette." Wynn Macau is waiting for final government approval on the concession.
CHINA PROPERTY PRICES UNCHANGED ON MONTH WSJ, Xinhua News Agency
Chinese property prices in July rose 10.3% YoY, slower than June's 11.4% YoY growth. On a month-to-month comparison, July is flat with June. New home prices rose 12.9% YoY in July, 1.2% points lower from June. Prices of 2nd hand homes gained 6.7 % last month, compared with an increase of 7.7% in June.
The National Bureau of Statistics also said investment in real-estate development, one of the main forms of private investment in China, rose 37.2% to 2.39 trillion yuan (US$353 billion) in the January-July period from a year earlier, slowing from a 38.1% rise in the January-June period.
DEMOGRAPHIC STATISTICS FOR THE 2ND QUARTER 2010 DSEC
Total non-resident workers fell 701 in 2Q to 72,142. Also, 847 individuals were authorized to reside in Macau, down by 1,101 QoQ.
MACAU SEES RISE IN PERSONAL HOUSING LOANS macaubusiness.com, Macau Daily News
For money supply in June, M1 grew 2.5% compared to May and M2 grew 2.8% MoM to MOP 222 billion. Loans to gaming and restaurants, hotels and similar establishments dropped 12.5% and 12.4%, respectively, in June relative to May. In June, total deposits with the banking sector grew 1.7% MoM in June. The loan-to-deposit ratio stood at 73.8%, up 0.7% points.
SINGAPORE'S Q2 ECONOMY EXPANDS BY 18.8% YOY Channel News Asia
The final estimate of Singapore's 2Q GDP showed 18.8% growth, slower than the initial estimate of 19.3% growth.
RP AIMING TO STRIKE GAMBLING GOLD INQUIRER
PAGCOR chairman Naguiat believes an 'Entertainment City' in Manila by 2014 can compete with Macau and Singapore. Naguiat said the government was looking to eventually build integrated casino and entertainment resorts in other parts of the Philippines, including picturesque Palawan island and Cebu, the nation's second biggest city.