Demand for shop premises in city centre heating up

2013-10-4

From：Macau Business

The ravenous appetite of investors here and abroad for shops in the city centre could raise their value by 30 percent this year, Savills (Macau) Ltd says.

Our sister publication Business Daily quotes Savills Macau managing director Franco Liu Pui Lam as saying that five city centre shops were sold for MOP300 million (US$37.5 million) to MOP400 million each in the past six months.

Mr Liu believes shop prices and rents could rise by between 20 percent and 30 percent this year, basing his estimate on the steady rises in gaming revenue and visitor figures.

He said shop rents in the city centre ranged from MOP500 to MOP600 a square foot.

Copyright@Macau Business