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The Jumeirah Macau hotel is located in the tourist hub of Cotai and is scheduled for completion in 2013 |
Pansy Ho, managing director of Shun Tak, said: "This project came about at a time when some players are uncertain about the future. Shun Tak's view of the Macau economy is long term. We remain positive that its fundamental is strong, and will continue to invest in its future, trusting that it will be one of the first destinations to recover from the recent market adjustments."
The tourism industry is growing steadily in Macau with figures from the Statistics and census service showing good growth. Gross fixed capital formation of Macau's hotel sector was 14.2 billion Macau pataca (Dh6.4 billion) in 2007, a surge of over 48 per cent from the previous year.
