Friday, July 8, 2016

Setúbal: here comes an urban revolution – Observer

The Bay of Setúbal preparing to receive an investment of 250 million euros. The tourist project, led by Macau Legend, the Macau businessman David Chow, aims to strengthen the link between Setúbal and Troy and promises to revolutionize the riverfront Setubal. It is planned to build a marina, two hotels, five and four-star, commercial spaces, cultural and sporting and blocks of private dwellings.

The details of this “mega” tourist resort worth highlighting various organs communication, including public and Setúbal in the Network. According to the latter, Macau Legend is one of the largest gaming operators and Macao entertainment and has a turnover of $ 350 million, about 316.79 million euros.

This it is the first major project of Macau Legend in Portugal (and in Europe). “It is a revolution that will operate at the waterfront and this project will be an anchor to renew the entire river front area, because we are sure that after this investor will others,” stressed Maria das Dores Meira, President of the Setúbal City Council.

according to Maria das Dores Meira, investment in Portugal has “permission of the Chinese government” and is “be accompanied” by the Portuguese executive, with whom the businessman David Chow already met.

Still, there are some obstacles to overcome. The land in question are public property and are under the administration of the ports of Setúbal and Sesimbra. “There are things to be resolved, the port land use have to go to the municipal domain, but the government is monitoring the negotiations and there will be transfer of use with all urgency, perhaps in July or August,” said Maria das Dores Meira, the public.

the Municipality of Setúbal hopes the project will start already in 2017 and allowing the creation, at an initial phase, three thousand jobs.

the investment group Macanese may include entry into the capital of Troy Casino, owned by Oxy capital and by Amorim Turismo.

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