Macau's real estate market continues to attract investment from unlikely sources, with three Hong Kong listed companies announcing purchases worth a combined $860 million.
Securities broker Upbest Group said on Thursday it planned to buy a retail property and 51 car parking spaces for $127.5 million, while car audio-equipment maker 139 Holdings said it would purchase the four-star, 350-room Hotel Grandeur Macau for $500 million from China Travel Service (HK).
Meanwhile, 'Macau concept' veteran Hongkong Chinese announced an agreement to acquire a 3,623 square metre residential site for $238 million.
Investor response to the announcements was mixed.
Shares in 139 Holdings, previously untouched by Macau-related speculation, zoomed 61.11 per cent to close at 5.8 cents.
Hongkong Chinese, however, dropped 3.7 per cent to close at $1.30, while Upbest ticked 2.07 per cent lower to close at $1.42.
Hongkong Chinese said the target property, located at 83 Estrada de Cacilhas, comprised several old, vacant buildings.