YOHO Resorts World Shopping Center officially opened on Friday, incorporating Macau’s first Galeries Lafayette and Bona Film Group movie theaters as main attractions.
The shopping center combines the YOHO Treasure Island Resort World Hotel to form a five-storey complex spanning 8,100 square meters on the shores of Nam Vam Lake.
The official opening comes about five months after the resort tested the waters with a soft opening.
“When we first acquired this project, it was at a standstill with an unfinished structure,” said Mike Lamb, founder of YOHO Group, in his remarks.
“This transition has been quite difficult, probably the toughest of my entire career.”
Leisure and hospitality company Genting Hong Kong, which previously held an interest in the Treasure Island Entertainment Complex, completed the sale of its interest in January 2021.
The interest was sold for HK$750 million (P776 million/US$96 million) to a company owned by local real estate businessman Ao Mio Leung, who owns the Macau Roosevelt Hotel project. It has a relationship with the development company YOHO Group in charge.
Commenting on the macroeconomic situation, Mr Lam expressed high hopes that the latest additions to Macau’s hotel lineup will act as a catalyst in driving the city’s economic diversification.
“We do not subscribe to the widespread pessimism,” he added. “We believe that these are times when only the strongest can survive and thrive.”
