THE M3: MBS RETAIL SALES COULD REACH S$1BN; NO GENTING DIVIDEND; ONE OASIS PROPS UP PRICES

The Macau Metro Monitor, August 18th, 2010

 

LAS VEGAS SANDS: SINGAPORE RESORT'S SHOP SALES COULD HIT S$1 BN WSJ

David Sylvester, senior vice president of Sands' Asia retailing operations, said retail outlets at MBS could generate annual S$1 billion sales when the complex is fully operational.  Sylvester said about 50 more shops will open at MBS in September; MBS will have more than 300 stores and restaurants.  To date, the company has signed contracts with future tenants for around 95% of the mall's capacity, said Sylvester.  Sands China has just finished renewing retail contracts at the Venetian with "everybody we wanted to renew," said Sylvester, adding sales in the resort's 1-million-square-foot mall have improved recently.

 

Sylvester also said he will begin marketing Sites 5 & 6 to mid-range retailers in a few weeks.  

 

NO DIVIDENDS FROM GENTING S'PORE Strait Times

At its general meeting, Genting Singapore stated that shareholders will not be receiving dividends this year because the company is bound by a bank loan agreement not to dispense dividends until it has fully repaid its loans.  Also the shareholders voted in favor of the UK divestment. 

 

PROPERTY PROJECT ONE OASIS DRIVES COLOANE FLAT PRICES UP 130% Macau News

The opening sale of One Oasis drove up the average transaction price of residential units in Coloane island by 1.3 times QoQ (191% YoY) to 59,509 patacas per square metre of usable area in 2Q.  According to DSEC, the average transaction price of residential units in the whole region of Macau rose 69.2% YoY. 


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