In a significant move, Macau-based casino operator SJM Holdings Ltd has announced an investment of CNY724-million (approximately US$100.9-million) for the acquisition of office space on Hengqin island. The strategic acquisition involves converting the property into a three-star hotel, enhancing SJM's presence in the region. This decision was confirmed on a Monday update from SJM Holdings, which detailed the specifics of the project aimed at expanding their hospitality portfolio.
Approval Process and Future Prospects
The gross floor area for the Hengqin property spans about 19,781 square meters or about 212,921 square feet. SJM Holdings plans to complete the conversion and renovation within 24 months, pending the necessary approvals from the relevant authorities in both the mainland and Macau. These approvals are critical within the context of the 'Guangdong-Macau Intensive Cooperation Zone in Hengqin', a joint economic initiative designed to diversify Macau's economy beyond gaming. In a company press release, SJM Holdings’ chairman, Daisy Ho Chiu Fung, shared insights into the company's strategic direction. She emphasized that the project goes beyond merely expanding their hotel portfolio by aligning with national strategies to enhance integration between Hengqin and Macau.
"This project represents more than an expansion of our hotel portfolio," she stated, highlighting SJM's focus on long-term growth potential in cross-border tourism and cooperation. Ho further expressed confidence in delivering superior service to the mass market while exploring new collaboration avenues with mainland partners. The acquisition signals not only SJM Holdings' expansion into a largely underserved market segment but also reflects its commitment to fostering capital-efficient growth and generating incremental revenue streams.
Funded through SJM’s internal resources, current banking facilities, or other financing arrangements, this investment underscores the company's dedication to strategic development. As SJM focuses on the Hengqin hotel project, it remains poised to offer enhanced service excellence, paving the way for future collaborations.
Source: SJM Holdings spending US$101mln to acquire Hengqin property it will convert to a 3-star hotel, GGRAsia, July 28, 2025.
Posted by Wizard
Jul 29 2025
Jul 29 2025
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