Macau Luxury Property The 13 Hotel Sells for HK$600 Million to a Local Buyer

Macau luxury property The 13 Hotel sells for HK$600 million to a local buyer

The sale to an unidentified buyer in Macau marks the city’s first hotel-related property transaction since the fourth quarter of 2017.

The 13 Hotel sold in $76M deal, new owner to inject $25M for makeover

The 13th Hotel in Macau has been sold for HK$600 million ($76 million) to a local investor, according to a statement released by Savills (Macau) Limited, a real estate consultancy agency in the city. The post The 13 Hotel sold in $76M deal, new owner to inject $25M for makeover first appeared on Asia Gaming News | AGB - Asia Gaming Brief.

Buyer of Macau’s THE 13 Hotel plans extensive renovations, addition of world-renowned restaurants

The buyer of Macau’s long embattled THE 13 Hotel has promised to undertake extensive renovations, including the addition of world-renowned restaurants, according to details provided by real estate agent JLL. It also revealed that the purchase price was HK$600 million (US$76 million) – higher than the HK$400 million (US$51 million) initially reported. “The buyer has extensive experience in international real estate investment and plans to redesig…

The 13 Hotel purchased for HK$600 million by local investor, hotel to be upgraded

The 13 Hotel was purchased for HK$600 million ($76.4 million) by a “local investor” and will be “fully renovated”, JLL Macau confirmed to Macau News Agency. “It is a local buyer who is very confident about the local market. The property will remain a hotel and the buyer will invest and revitalise it”, Mark Wong a Senior Director for Value and Risk Advisory at JLL Macau told MNA. Real estate consultancy Jones Lang LaSalle (JLL) has been appointed…