Scheduled to open in 2009, the US$2 billion development, which recently selected Taubman as its retail partner, is being developed as a joint venture between eSun Holdings and New Cotai LLC, and will combine TV production facilities with a PBL-Melco casino, entertainment and four different hotels.
According to Taubman Asia president Morgan Parker, the retail component of the development will target key luxury groups that the company already works with through its existing retail portfolio, along with global and Hong Kong-based retailers interested in the opportunities afforded by Macau's burgeoning tourist scene.
While Parker declined to reveal exact identities, it is believed that LVMH, Riche-mont and Gucci will be interested parties, given their existing presence in other Macau developments.
"We are focusing on 'bell cow' retailers - the leaders of industry that define a location or project," said Parker. "There has been a wait-and-see approach by some retailers about Macau, but we believe there is significant pent-up demand."
Macau's current annual visitors tally stands at 22 million, with an average visit lasting one day. By 2010, this is expected to surge to 40 million people staying an average of three days - fuelled by breakneck development by global gaming operators such as the Venetian, Wynn Macau and Sands Macao. Parker believes that the city's growth is leading to a rapidly maturing consumer profile.
"As time goes on you will see more B2C communications to the trade audience."
