Macau Legend Development Ltd. Wednesday in Macau signed with the government of Cabo Verde (Cape Verde) a contract for the construction of a tourist complex on the islet of Santa Maria, located opposite the capital, Praia, with a area of 152,700 square metres and which will have a gambling facility.
David Chow Kam Fai, chief executive of Macau Legend Development and Honorary Consul of Cabo Verde in Macau said he had US$273 million in the tourism project and that it should be completed within three years and be profitable in five.
Cabo Verde also granted the Macau company a gaming concession for 25 years for the island of Santiago, 15 of which exclusively.
David Chow said the contract showed that Macau does have an important role as an economic and commercial platform between China and Portuguese-speaking countries and showed that the Special Administrative Region was one of the important cities in the Chinese “One belt, One road,” project.
In term of gambling Chow said that the resort would have between 30 and 40 gaming tables and slot machines intended for mass tourism.
After the ceremony attended by the Chief Executive of Macau, Chui Sai On and Cabo Verde Minister of Tourism, Investment and Business Development, Leonesa Fortes the Cape Verdean official considered that
the project “will mean a profound change, not only locally, in Praia, in the Windward region, but all over Cabo Verde.”
During the contract signing ceremony, Leonesa Fortes, thanked “all the people of China” for their support “from the first moment of independence” and recalled the signing of a memorandum of understanding with China in May, to boost investment. (macauhub/MO/CN/CV)