Sands settles retail terms in Macao
Download Php Las Vegas Sands Corp. says it has reached commercial terms with
200 premium retailers, who combined will bring 250 branded stores
to the company's malls on the Cotai Strip in Macao.
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Developer Php The company's malls include the Grand Canal Shoppes at The
Venetian Macao Resort Hotel and the mall at the adjacent Four
Seasons Hotel Macao.
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Database Php "The number and quality of tenants as well as the pace at which
we are leasing retail
space in Macao is
unprecedented," said William Weidner, president and chief
operating officer of Las Vegas Sands Corp.
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Php Xml "To put this in perspective, the retailers already lined up for
The Venetian Macao represent more than three times the number of
retailers currently doing
business inside The Grand Canal
Shoppes in Las Vegas."
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File Php Weidner said that with this most recent announcement Las Vegas
Sands Corp. has clearly emerged as the gaming industry's preeminent
retail player.
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Php Upgrading He stated that with more than three million square feet of
retail space on the Cotai Strip, nearly one million square feet in
Las Vegas, and an additional one million square feet at The Marina
Bay Sands(TM) when it opens in Singapore in 2009, the company
possesses a strong portfolio of locations to attract the world's
top retailers for its current and future integrated resort
properties.
Php Forum "The retailers approaching us in Macao are very confident in Las
Vegas Sands' ability to duplicate what we have successfully created
in Las Vegas," said Stephen Weaver, senior vice president of Asian
development for Venetian Macau Ltd. "The 200 retailers in The Grand
Canal Shoppes combined with the leasing of the entire ground floor
of the mall at the Four Seasons Hotel Macao, are equal to the
number of shops and brands in Hong Kong's Pacific Place and
Landmark Malls combined."
Flash Php Weaver said the momentum of the company's retail presence in
Asia continues to grow -- with 45 retailers having come on board in
the past 30 days -- and the Cotai Strip has now been established as
the epicenter of retail in Macao. He said this is clearly reflected
in both the quality and number of retailers approaching the company
and those coming to terms on commercial agreements. Weaver said
that commercial terms across all retail levels continue to include
rental rates in line with the company's expectations.
Ajax Php The foregoing commercial agreements remain subject to execution
of definitive contracts which are presently under negotiation.
Dream Foundation Php Weaver The Grand Canal Shoppes at The Venetian Macao, which is
currently being constructed on the Cotai Strip in the People's
Republic of China Special Administrative Region of Macao, plan to
mirror its sister property located inside The Venetian in Las
Vegas. The GCS in Las Vegas is immensely successful, achieving
sales far above the national average. The Macao version, when
completed in 2007, will become the largest entertainment and
shopping facility of its kind in
Asia.
Php Proxy Las Vegas Sands is also busy developing The Palazzo Resort Hotel
Casino adjacent to The Venetian in Las Vegas. The Shoppes at The
Palazzo(TM) will also offer an upscale shopping experience and has
already attracted Barneys New York, one of the most sophisticated
and well known luxury retailers in the U.S., to serve as the anchor
of The Shoppes.
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