SJM to submit Cotai project master plan this week
“We’re doing it now because without this master plan it is not possible for the Macau government to calculate the premium to be charged and to start the land grant. We’ll submit as quickly as possible because we have the parameters of the design now,” he said, quoted by TDM.
Mr So added that with the delivery of the master plan, SJM is eyeing to have its land grant request approved “hopefully” by mid-this year.
Heo said that the fact that SJM was a latecomer to Cotai was actually a good thing. “We have the advantage of knowing what can be done and what cannot be done, what is successful and what is not successful.”
He also said that unlike SJM’s peninsula projects, which are gaming-centric, the Cotai development would include more non-gaming elements.
Mr So estimated that Macau’s overall casino gross gaming revenue should post a 25-percent growth this year.
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