Macau is one of the most promising real estate markets in the world, government says

7 December 2006

Macau, China, 07 Dec – Macau’s Secretary of State for the Economy and Finance, Francis Tam, said Tuesday that the gaming and tourism industries had transformed Macau into one of the most promising real estate markets in the world.

Tam, who was speaking at the opening of Expo Real Asia in Macau, also said that “the success of the gaming and tourism industries has contributed to the change and assertion of the territory as a modern center of business and entertainment.

Tam noted that, “since the setting up of the Special Administrative Region of Macau (in 1999), the government had spared no effort in promoting Macau as services center for the region and a bridge between China and the Portuguese-speaking countries.

Tam also said that, “the geographic location of the territory, located on the coast of southeast China, to the west of the Pearl River Delta, is another source of great potential and opportunities for Macau, where businesses can have access to a bigger market.”

“Increased demand for land for hotels, convention centers, shopping malls, offices and residential areas in Macau, is a guarantee for the city’s success as a great real estate market and one of the fundamental pillars for development of the local economy,” he said.

“Macau is now seen not only as a growing property market, but also as a strategic platform for regional development,” he concluded. (macauhub)