Real Madrid adds lustre to China's wannabe "Orlando" tourist hub

Lai Sun Development

17/09/2017 02:30

By Farah Master 
    HENGQIN, China, Sept 17 (Reuters) - Just a stone's throw 
across a narrow waterway from the world's largest gambling hub 
Macau, a former oyster farming island is being transformed into 
China's newest tourism haven. 
    Dubbed by some as China's answer to Florida's Orlando - a 
global tourist magnet with its cluster of major theme parks - 
Hengqin has seen property prices more than double over the past 
two years. 
    While still a dusty mass of construction sites, Hengqin now 
draws millions annually to its anchor attraction, the "Chimelong 
Ocean Kingdom" theme park, with a slew of hotel, malls and 
sprawling residential developments being built nearby. 
    Spanish soccer club, Real Madrid, announced last week they 
would open an interactive "virtual reality" complex in Hengqin, 
in partnership with Hong Kong-listed developer, Lai Sun Group 
 0488.HK . 
    The 12,000-square metre venue, set to open in 2021, will 
include virtual reality entertainment and a museum showcasing 
the club's history. 
    The transformation of Hengqin, which is three times as large 
as Macau, is part of Beijing's efforts to bolster links between 
Hong Kong, Macau and nine cities in the Pearl River Delta 
region, or so-called "Greater Bay Area", modelled after other 
dynamic global bay areas such as Tokyo and San Francisco.   
    "Hengqin will be the Orlando of China. Macau is Las Vegas 
(and) Hong Kong is New York," said Larry Leung, an executive 
with Lai Sun that is helping build the Real Madrid complex at 
its "Novotown" project in Hengqin. "Within an hour you can have 
them all."   
     Novotown's entertainment mix will also feature China's 
first Lionsgate movie world with theme rides from blockbuster 
films such as the Hunger Games and Twilight, as well as a 
National Geographic educational center. And high-end hotel 
chains and luxury yacht makers are building more hotels and a 
marina on Hengqin. 
           
    EXPANDING MACAU 
    Chinese officials see Hengqin helping Macau diversify away 
from casinos to a more wholesome tourism industry. More than 80 
percent of Macau's public revenues come from the gambling 
sector.  
    Businesses in Macau have been encouraged to invest in 
Hengqin with the government providing cheaper rent and tax 
subsidies. Galaxy Entertainment  0027.HK , Shun Tak  0242.HK  
and Macau Legend have also earmarked developments for Hengqin. 
    Realtors expect property prices to keep rising once a sea 
bridge linking Hong Kong, and a high speed rail station are 
completed. 
    Hoffman Ma, deputy chairman of Success Universe Group, which 
operates the Ponte 16 casino in Macau, said Hengqin could take 
some convention and exhibition business away from the former 
Portuguese colony. 
    "It doesn't make sense for Macau to do that, due to a 
consistent labour shortage," he said. 
    Wang Lian, from Wuhan in central China, brought his daughter 
to watch whale sharks and polar bears at Chimelong Ocean Kingdom 
recently. 
    Industry reports show 8.5 million people visited China's top 
theme park last year, more than Hong Kong Disneyland's 6.1 
million, and almost a third of the 28 million people who visited 
Macau last year. 
    "China's population is so big they need something like this 
nearby ... its (Hengqin's) economic ties will also help Macau 
develop," Wang said.  
    ($1 = 6.5502 Chinese yuan) 
     
     
 
 (Additional reporting by Clare Jim; Editing by James Pomfret 
and Jacqueline Wong) 
 ((farah.master@thomsonreuters.com; +852 28431631 , +852 9631 
8262; Reuters Messaging: 
farah.master.thomsonreuters@thomsonreuters.net)) 
 
Keywords: CHINA HENGQIN/ECONOMY