Macau’s Treasure Island Resort World Hotel will have its soft opening this summer, and its Shopping Center is going to open officially on October 1st.
A representative of Treasure Island Macau told media that the hotel, with over 600 rooms, is ready to open, with all construction completed.
The Treasure Island Resort World Hotel and Shopping Center was formerly owned by Genting Hong Kong, but the group eventually sold its stake in the property even before it failed in its bid for a gaming license.
Real estate giant JLL has been appointed as the exclusive leasing and marketing consultant of the shopping center.Â
The shopping mall has five floors with over 400,000 square feet. The venue includes retail shops, restaurants, bars, a cinema, supermarkets, children’s playgrounds, and other facilities, and is expected to be the largest shopping mall on the Macau Peninsula, according to the company. According to JLL, over 80 percent of the retail outlets have been leased, and the shopping center contains Galleries Lafayette, a UFC Gym, famous toy store Pop Mart and a large integrated gaming center, Beebeeland.
In addition, the project has been rented by Bona Film Company to set up a cinema of about 30,000 square feet, providing seven halls.
JLL Macau and Zhuhai General Manager Oliver Tong said that the rapid recovery of Macau’s tourism has contributed to the strong leasing of the property. He indicated that there will not be much supply of shopping outlets in the future, especially shopping malls in the city center. In this way, the property’s location is the main reason for the high occupancy rate.
Treasure Island Resort World Hotel and Shopping Center Macau will not include a casino. It was previously set to open in December last year, however, the COVID outbreak and travel restrictions led to the developer postponing the opening date.
The property was originally being developed by Genting Hong Kong, which sold off a 50 percent stake in November 2020 to a local investor named Ao Mio Leong to raise funds to help its ailing cruise business, which has since applied for bankruptcy protection. The purchase price was HK$750 million ($96.7 million), with the buyer also granted options to increase the holding.
Genting, which missed out on the bidding for the first round of casino concessions, had been expected to seek permission to open a casino at the resort, if successful in its concession tender, however the group was not and Macau’s six incumbent operators remained the only companies to get new 10-year licenses.
