THE M3: SITES 7 & 8

The Macau Metro Monitor, September 7th 2010

 

 

SANDS CONFIDENT ABOUT NOT LOSING PARCELS 7 AND 8 IN COTAI, MACAU macaubusiness.com

Acting CEO Michael Leven said that "there is no reason to believe that a subsequent application by any third party will take precedence" over Sands’ rights to develop sites 7 and 8.  Leven explained that Sands China had previously submitted a detailed development application to the Macau government detailing plans for the two sites.  “Subsequent to that application, we have obtained site investigation and consolidation licenses from the government, which authorized us to enter the site and carry out the substantial works that have to date been completed,” Leven said.  “Our consultants have continued to pursue the development application in a timely manner,” Leven said. “We have received no indication from any relevant department that our applications are not proceeding in the usual course.”  Meanwhile, Macau’s Land, Public Works and Transport Bureau has denied receiving any letter from SJM expressing interest in Cotai’s parcels 7 and 8.


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