Macao casino operator Macau Legend Development Ltd says it has bought 21.5 percent of Lai Ieng Investment Co. Ltd, the operator of PONTO, a shopping complex being built in Portuguese architectural style on the island of Hengqin, which abuts Macao.
Macau Legend told the Hong Kong Stock Exchange it had agreed to manage PONTO for HK$65,000 (about US$8,300) a month and an annual bonus which will depend on how well it performs.
Separately, the Macau News Agency reported last month that Macanese architect Carlos Marreiros designed PONTO, taking inspiration from Portuguese classical architecture.
The report says the shopping complex has a floor area of 140,000 square metres or so and will contain over 30 shops.
PONTO is due to open in the fourth quarter of this year, the Macau News Agency says.
The agency quoted Macau Legend Chief Executive David Chow Kam Fai as saying PONTO would be not only a place for shoppers to buy products made in China and the Portuguese-speaking world, but also a cultural platform, namely for entrepreneurs.
