The list includes Alfred Dunhill, Bulgari, Burberry, Cartier, Christian Dior, Dolce & Gabbana, Franck Muller, Gucci, Prada and Versace.
The news comes amid concerns that Macau’s luxury retail sector may be heading towards over-supply, and that proposed visa curbs by the mainland authorities may slow visitor numbers. Morgan Parker, president of The Mall developer Taubman Asia, said that the duration of stay by mainland tourists remained critical, and forecast that the visa curbs may actually assist in this regard, if mainland tourists are allowed to travel to Macau once every six months, instead of the current once every two months. Parker added that with the launch of Macau Studio City, the new Cotai Strip area in Macau would reach critical mass.
The news comes amid concerns that Macau’s luxury retail sector may be heading towards over-supply, and that proposed visa curbs by the mainland authorities may slow visitor numbers. Morgan Parker, president of The Mall developer Taubman Asia, said that the duration of stay by mainland tourists remained critical, and forecast that the visa curbs may actually assist in this regard, if mainland tourists are allowed to travel to Macau once every six months, instead of the current once every two months. Parker added that with the launch of Macau Studio City, the new Cotai Strip area in Macau would reach critical mass.
The US$2.5 billion development also includes gaming and entertainment, along with the world’s first Tang Hotel, by David Tang. “Even though some parts of the Cotai Strip are still construction sites, by the end of the decade, there will be 150 square feet of retail per hotel room in Macau, compared to 300 square feet of retail per hotel room in Las Vegas.”
Parker said a shortage of talent remained a pressing issue in Macau. “There is sufficient time before 2010 for training institutes to train qualified manpower.”