21st Oct 2014 08:19
LONDON (Alliance News) - Macau Property Opportunities Fund Ltd Tuesday said it has entered into a deal to buy a luxury private house in Macau's Penha Hill neighbourhood for HKD182.5 million.
Macau Property said the acquisition of the new property is complementary to The Green House, an adjoining property already owned by the fund.
"This highly strategic acquisition gives us further exposure to one of our preferred sectors in Macau - exclusive residences - which we believe will become increasingly sought after as Macau continues to transform into a world-class destination. The consolidation with The Green House should bring about significant value creation for our shareholders," said David Hinde, Chairman of Macau Property.
Macau Property shares were down 0.5% to 234.75 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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