LVS doesnt have all the necessary approvals for its Cotai Strip hotel and casino project, yet they’ve begun construction. This is not all that uncommon however…
“We have commenced construction or pre-construction for the projects on parcels 5, 6, 7 and 8 on the Cotai Strip for which we have not yet been granted land concessions,” the report stated.
The almost 22 hectares of land stretches from the edge of Melco PBL Entertainment’s City of Dreams site to the southern edge of the Cotai strip.
More than 12,550 hotel rooms and retail malls are planned for the sites. Two Shangri-La Hotels and Resorts are being built on parcel 5 in addition to a St Regis branded hotel. Sheraton branded hotels are intended for parcel 6 and Hilton, Conrad, Fairmont and Raffles branded hotels and serviced apartments are planned for parcels 7 and 8.
It is not uncommon for developers to commence project work prior to finalising all necessary land agreements with the government.
From the Macau Daily Times