Macau, China, 9 Aug – Macau business and casino tycoon David Chow Kam Fai has announced that his company will build a 358-bed hotel in Beijing in an investment valued at 2.2 billion yuan.
Chow said Wednesday that the Hotel Legendale will be built next to Tiananmen Square in the Chinese capital and will be used as a headquarters by the International Olympic Committee during next year’s world games in the city.
The 1.7 hectare construction is scheduled to be finished in March 2008.
The hotel will have a restaurant offering Portuguese cuisine in Beijing for the first time, added Chow.
Loans of US$ 1 billion have been provided for the hotel project by the East Asia and Hang Seng banks.
David Chow has a controlling shareholding in Macau’s Doca dos Pescadores theme park and also operates a number of casinos in the Chinese enclave city. (macauhub)