Macau businessman invests US$130 million in Cape Verde

7 March 2006

Praia, Cape Verde, 07 March – Macau businessman David Chow said Monday in Praia that he would invest some US$130 million in building a tourist complex on the islet of Santa Maria, off the coast of the Cape Verde capital.

Chow is a gaming magnate in the Special Administrative region of Macau, whose businesses are mainly located in Asia, particularly Hong Kong and Singapore, as well as Macau.

Work on the tourist project on Santa Maria, which is less than 200 meters from Gambôa bay, in front of Praia, includes a casino, hotel, marina, restaurants and swimming pools, will begin this year and should be concluded by 2009.

Chow also plans to invest a further US$390 million in Cape Verde, particularly in the country’s capital, over the next 10 years, he said.

Speaking to journalists, Chow said that his investment in the archipelago would “give Cape Verde a very strong Asian component.”

Chow’s idea is to “lead Asian tourists to choose Cape Verde as a holiday destination.”

Chow’s project is supported by the Cape Verde government and the local authorities of its capital, Praia. (macauhub