SJM Expands Hengqin Hotel Plans with Strategic Acquisition
SJM steps forward with an ambitious hotel development in Hengqin, enhancing its Greater Bay Area presence with an expansive space acquisition.
A Bold New Vision for Hengqin
SJM Holdings is accelerating its endeavor to expand its hospitality footprint by strategically acquiring an office space in Hengqin to transform into a vibrant three-star hotel. This move is expected to complement its extensive Macau resort offerings.
Key facts about this acquisition reveal that SJM will invest RMB724.2 million (US$101 million), securing nine floors of the office space and enhancing it with three additional floors. This expansion adds 5,000 square meters, summing up to a grand total of 19,845 square meters for the project.
The Deal Behind the Expansion
The acquisition was finalized with Zhuhai Hengqin Shun Tak Property Development Company, a subsidiary of Shun Tak Holdings, chaired by influential business figure, Pansy Ho. It’s a testament to the group’s commitment to strengthening ties between Hengqin and Macau through strategic hospitality investments.
Embracing the Greater Bay Area
According to Inside Asian Gaming, the newly developed hotel will be nestled within a lifestyle hub adjacent to Hengqin Port, facilitating seamless integration with the surrounding retail, residential, and office spaces. This supports Macau’s moderate economic diversification while boosting Hengqin’s role as a catalyst for regional growth.
A Pillar of Cross-Border Collaboration
Emphasizing cross-border tourism potential, Daisy Ho, Chairman of SJM Holdings, highlighted the synergy between Hengqin and Macau. “We align with national strategies, believing in the immense growth potential of tourism between borders, and our reputation positions us to deliver quality service,” she emphasized.
Future Outlook and Construction Timeline
With conversion and renovation works underway, SJM sets its sights on drafting an extraordinary hotel experience powered by years of expertise. The projected timeline sees completion within two years, heralding a new era of collaboration and expansion for the area.
The burgeoning development is a part of a vision to reshape Hengqin into a pivotal economic zone, anchored by Macau’s status as a World Centre of Tourism and Leisure. This investment not only underlines SJM’s evolutionary ambitions but also stands as a beacon of cross-cultural integration thriving within the Greater Bay Area.