Chong Sio Kin, the Chairman of New Orient Group – operator of Macau satellite casino Landmark – says there have been multiple lease terminations and cancellations in the NAPE area near his casino since the announcement that all satellite casino operations would cease by year’s end. Fellow satellites Fortuna and Kam Pek Paradise are also located nearby.
Although SJM – whose gaming concession nine of Macau’s 11 satellites operate under – has outlined plans to acquire Ponte 16 and L’Arc, Landmark is slated to cease gaming operations despite long being the revenue leader among all satellites.
Chong stated during an interview at a Real Estate Association event this week that the real estate industry remains challenging post-pandemic, particularly following the closure of satellite casinos, which has caused a “shockwave” in the sector.
“The news has immediately impacted the real estate market in the NAPE area, with multiple cases of lease cancellations and order withdrawals,” he said. Chong also noted that the current situation is not optimistic and that related issues cannot be resolved in the short-term. He believes a ripple effect from the closure of Macau’s satellite casinos will gradually emerge.
“A large number of businesses in the NAPE will be directly impacted and market confidence remains low,” he explained.
In the first half of May 2025, the average practical floor price per square meter for buildings in Macau was MOP$69,634, down 25% from MOP$91,711 per square meter a year earlier.
Chong suggested that the government should implement policies to stimulate the market and restore confidence in investment in response to the real estate market situation and the impact of the closure of satellite casinos on the real estate sector.
An earlier report by IAG saw merchants situated near satellite casinos indicate they may consider relocating from the NAPE area next year, while emphasizing the difficulty of transforming their businesses in the short term.
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