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SCMP Reporter

The 20-storey hotel-casino will be the largest development in the enclave

China State Construction Engineering (Hong Kong), a subsidiary  of China Overseas Holdings,  yesterday  launched its debut construction  project in Macau.

The 150,000 square metre Wynn Resorts Macau, with a construction value of more than $2 billion, is believed to be the largest development project in the booming enclave.

The project was awarded to a joint venture including two  China Construction Engineering companies and Hong Kong's Leighton Contractors.

'This is our first project in Macau. We have confidence in Macau's economic development,' said Sammy Zhou Yong, executive director and president of China State Construction Engineering (Hong Kong). 'We will be paying more attention to this market and hope to carry out more projects in the future.'

The construction of the 20-storey hotel-casino, which will be built in the shape of a curved tower,  is slated for completion in August 2006.

Separately, Hong Kong-listed  China Overseas Land & Investment,  another China Overseas Holdings  subsidiary, bought a piece of land near Hac Sa Bay in Coloane with a gross buildable area of about 1.5 million square feet for $800 million earlier this year. The site will  yield about 1,000 residential units, according to the firm.

Mr Zhou said there were not enough local construction professionals   to meet the growing number of construction projects  in  Macau.

'Construction in Macau used to be small-scale projects that didn't require many professionals,' he said. 'Now we have to import them from Hong Kong.' He said that the company would strictly follow Macau's regulations in importing labour.

The total value of construction projects in  the territory is estimated to be about  $3.5 billion annually. Mr Zhou also said that Hong Kong's rebounding economy and property market had helped revive the construction industry.

The company had successfully shifted its focus from government projects to those financed by private developers. The company had  outstanding building and civil engineering  contracts worth $30.9 billion this year, he said.



Venture launches Macau project