Sands China Invests in Macau’s Historic Districts

Executive Vice Chairman of Sands China Dr. Wilfred Wong highlights the company’s commitment to restoring Macau’s historical monuments, but he also points out that these kinds of projects always have a learning curve.

The initiative complies with the conditions of the recently issued 10-year gaming licenses, which oblige concessionaires to collaborate with the Macau Special Administrative Region government in order to rehabilitate the city’s historical districts.

One of Sands’ main points. China is focusing its efforts in Rua das Estalagens, where the company unveiled a detailed plan aimed at reviving the local economy.

As part of the initiative, certain entrepreneurs will receive financial support to help them launch businesses along the historic route.

In an effort to reinvigorate Rua das Estalagens, Sands has committed to matching finance contributions at a 1:2 ratio, up to a maximum of MOP$1 million (US$124,000) per applicant.

During a co-hosted open house event with government officials, Dr. Wong shared his thoughts on the program.

He emphasized the value of community involvement in the beautification process and emphasized Sands China’s all-encompassing approach to restoration work.

Dr. Wong is optimistic that the initiative will increase economic activity and encourage the growth of small and medium-sized businesses (SMEs) in the area despite the inherent obstacles.

Sands China invites community members to submit business plans and makes staged investment grants in an effort to foster entrepreneurial talent and ensure efficient resource utilization.

Sands China’s involvement in Rua das Estalagens, formerly a thriving center of trade and commerce, has decreased recently. Plans to renovate Rua das Estalagens seek to address the ancient street’s current vacancy difficulties by restoring its status as a busy commercial avenue, while tourism is mostly focused on Avenida Almeida Ribeiro.

Original Story by: Inside Asian Gaming