Macau’s first-half home sales plunge as US-China trade war dampened sentiments among investors and developers

Macau’s residential property market has fallen victim to the protracted US-China trade war, as investor sentiment sours and developers hold off on new projects.Home sales in the world’s largest gambling hub, which sits off the coast of southern China, plunged 42.2 per cent in the first half from the same period a year earlier, to 3,920 registered transactions, said JLL, citing statistics from DSF, the financial services bureau of the Macau government.The value of properties sold also was… Source link

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US-China trade war could push Macau’s growth below 4 per cent this year, IMF warns

The escalating trade war between China and the United States could further dampen growth in Macau, the International Monetary Fund has said.The gambling hub is already suffering from the slowdown in the mainland’s economy and efforts to curb big-money betting, but the trade war “has the potential to drag Macau SAR’s growth below our medium-term projection of about 4 per cent”, Mariana Colacelli, the IMF mission chief for Macau, said.In a report released last Friday, the fund projected that… Source link

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AirAsia says it may set up base in Macau, the first overseas carrier to throw its hat in since the end of Air Macau’s monopoly in January

AirAsia, the region’s largest low-cost carrier, may set up a base in Macau to serve Chinese travellers, becoming the first foreign airline to throw its hat into the ring since a January policy that ended Air Macau’s quarter-century monopoly in the gambling hub.“Entering China could be via Macau,” said AirAsia’s founder and chief executive Tony Fernandes, in an interview with South China Morning Post during Credit Suisse’s Asia Investment Conference in Hong Kong. “We do not have to be in… Source link

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