Macau’s very own Eiffel Tower will be rising over the Cotai Strip on schedule following an announcement by Sands China that it has received government approvals to complete construction of its US$2.7 billion Parisian Macao megaresort.
Corporate parent Las Vegas Sands (NYSE: LVS) says it plans to open The Parisian and its centerpiece half-scale replica of the Paris landmark in two phases beginning in November 2015, with a grand opening set for the first quarter of 2015. At full build-out the resort will feature more than 3,000 hotel rooms and suites, 490,000 square feet of retail space, an array of restaurant offerings and the company’s signature focus on expansive meetings and convention facilities.
“From the moment we put our first shovel in the ground we have been committed to helping Macao secure its future as a center for leisure, business and entertainment,” Chairman and CEO Sheldon Adelson said in a prepared statement. “The Parisian Macao is 100 percent consistent with that vision and we look forward to families taking pictures in front of our Eiffel Tower in the near future.”
Construction of The Parisian was halted in June following a work accident at the site. The company later said it expected to resume building in October.
When complete the resort will grow Hong Kong-listed Sands China’s market-leading portfolio of hotel, gaming and retail space in Macau by 20-30%. The company (HKSE: 1928) currently operates three large-scale resort casinos on Cotai: its flagship, The Venetian Macao, The Plaza and Four Seasons Macao next door and the Sands Cotai Central hotel and gaming complex across the Strip.
Sands also operates the Sands Macao casino and hotel near the Macau Ferry Terminal on the city’s main peninsula.
