Apr
27
Cotai Strip® shopping
Filed Under Macau, Macao, Cotai, Las Vegas Sands, Shopping | Leave a Comment
1 down, 1 almost down, and three to go. According to IHT.com, LVS announced that it plans to open its second of five shopping malls on the Cotai Strip this July.
The upcoming mall will feature 100 brands across 200,000 plus square feet of space. The company also plans on opening an additional three shopping malls, and when all five shopping malls are complete, LVS’ Cotai Strip will have 1,200 stores across more than 3 million square feet. Read more
Feb
3
Macao Studio City shopping update
Filed Under Macau, Macao, Cotai, AREA, Macau Studio City, Shopping | Leave a Comment
I am probably more excited for the opening of Macao Studio City then any of the other up and coming openings. It seems like they have been doing everything right so far. This complex has enough exciting and entertaining components that it could really move the center of gravity in the Cotai away from the Venetian on the Cotai Strip®.
We still need to be cautious with our expectations though. Just because everything sounds exciting on paper, doesnt mean the finished project will come together to deliver that “wow” factor.
Anyway, here is part of the press release about Taubman’s investment in the Macao Studio City shopping Read more
Apr
17
Chinese megamall only gets 10% of projected visitors
Filed Under Macau, Macao, Cotai, ENTERTAINMENT, Shopping | Leave a Comment
Then where do all the Chinese teenagers hang out?
This is a very interesting and relevant articlein regard to the tremendous amount of retail space being built in Cotai. Some folks believe that there is too much retail being built in Macau and Cotai. Some also believe that the Chinese won’t want to shop. I’m not saying anything other than read the article. (**more below**)
South China Mall:
Official Site , Wiki , Random Interesting Article about World’s Biggest Malls
Feb
5
Taubman thinks Macau retail is undersupplied, & moves forward on Cotai Strip
Filed Under Macau, Cotai, ENTERTAINMENT, Macau Studio City, Shopping | 2 Comments
But last year they thought Macau would be oversupplied
Taubman began construction last month of its 750,000 square foot shopping complex as part of the Cotai’s Macau Studio City casino resort, after some hesitation last year due to fears that the Cotai and Macau retail boom would be too much. Even though it still seems like everyone is planning mega shopping and entertainment complexes in Cotai and Macau, Taubman now sounds like a believer. In an interview with the AP, a Taubman senior manager stated:
“We are extremely confident Macau won’t be oversupplied with retail”
“A lot of the supply is either delayed or not being built. There are big question marks about what’s being built”
A naive spectator like myself might take a look at the boom of retail construction that has been announced and/or is under construction in Cotai and Macau and be a bit skeptical of Taubman’s enthusiasm. However, Taubman appears to know what they are doing, especially after reading how they analyze the situation. (**more below the ads**)
The company thinks that even if the entire 6 million square feet of announced retail shopping gets built over the next three years, Macau will still be underserved based on the Sq Ft - Hotel Room ratio that they use. Based on Taubman’s calculation, Macau will only have 180 square meters of shopping space per room, vs. the 360 square feet of retail space per hotel room in Vegas. The Taubman executive continued:
“The Las Vegas market has 41 million square feet of retail today. Macau has less than 1 million. Yet it has more gaming revenue than Las Vegas.”
I guess one could ask why they didnt think of it this way last year when they were more hesitant. Instead, I’ll ask if comparing Macau to Las Vegas makes sense?