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Macau Property grows hotel occupancy levels

06 October 2017 07:35

Macau Property Opportunities Fund said occupancy levels at the Waterside property improved by two percentage points in the third quarter to reach 64%.

It said the rise was attributable to the signing of six new leases during the quarter.

Macau has recovered well from Typhoon Hato, with both the central and local governments providing aid to restore the territory, the fund said.

"Tourists are also returning to Macau, with more than 400 tour groups from mainland China reported to have visited Macau in the first weekend of September."

"Residential property values are likely to continue their gradual recovery and demand for housing will be supported by domestic buyers. The retail property sector, however, may see a slowdown in sales and leasing activities as property owners focus on restoring damaged properties."

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