MACAU - Thousands of gamblers on Sunday jammed into a new casino owned by a local billionaire who is trying to fend off an invasion by Las Vegas tycoons who have been gobbling up market share in the booming Chinese territory of Macau.
Many of the punters who crowded into the Grand Lisboa - shaped like a huge lotus flower covered in blinking lights - were big-betting mainland Chinese who helped push Macau past the Las Vegas Strip last year as the world's gaming center.
The five-floor casino is owned by Hong Kong billionaire Stanley Ho, who held a monopoly on gaming in Macau for four decades until 2002. The former Portuguese enclave - two islands and a peninsula off China's southeastern coast - is the only place in China where casinos are legal.
In the past four years, some of the biggest names from Las Vegas - Las Vegas Sands Corp.'s Sheldon Adelson, Wynn Resorts Ltd.'s Stephen Wynn and MGM Mirage Inc.
Tuesday, April 17, 2007
Tuesday, April 10, 2007
CityCenter's Mandarin Oriental newly sold out
LAS VEGAS, Nevada -- More than 90 percent of the luxury residential offerings at CityCenter's Mandarin Oriental Las Vegas have sold in a mere 14 days and generated more than $600 million, signifying a robust market for Las Vegas' next generation development. The first of CityCenter's four residential developments to be released to the public for purchase, The Residences at Mandarin Oriental achieved prices well above expectations.
Still available is the Mandarin Penthouse collection, including luxurious two- and three- bedroom units ranging in size from 2,065 square feet to 4,259 square feet. These residences are priced from $3.7 million to $9.1 million and will be delivered as grey shells.
CityCenter, MGM MIRAGE's (NYSE: MGM) $7 billion dazzling vertical city, will open in the heart of the Las Vegas Strip between Bellagio and Monte Carlo resorts in late 2009.
Still available is the Mandarin Penthouse collection, including luxurious two- and three- bedroom units ranging in size from 2,065 square feet to 4,259 square feet. These residences are priced from $3.7 million to $9.1 million and will be delivered as grey shells.
CityCenter, MGM MIRAGE's (NYSE: MGM) $7 billion dazzling vertical city, will open in the heart of the Las Vegas Strip between Bellagio and Monte Carlo resorts in late 2009.
Tuesday, April 3, 2007
Qatari Diar Real Estate and NorthCourse Leisure Real Estate ...
Real estate industry leaders Qatari Diar, a regional leader in sustainable real estate development, and NorthCourse, a global leisure real estate consulting and asset management company, signed a joint venture agreement today, creating what is poised to be a significant player in luxury real estate brokerage in parts of the Middle East and North Africa region. The company that will be established, Qatar Real Estate Partners, has obtained the exclusive franchise rights for the Sothebys International Realty brand in Qatar, Morocco, Egypt and Oman.
The company, which will market luxury real estate, will be headquartered in Doha, Qatar and expects to initially open Sothebys International Realty offices there and in Casablanca, Morocco. Offices in Cairo, Egypt and Muscat, Oman are planned to follow shortly.
The company, which will market luxury real estate, will be headquartered in Doha, Qatar and expects to initially open Sothebys International Realty offices there and in Casablanca, Morocco. Offices in Cairo, Egypt and Muscat, Oman are planned to follow shortly.
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