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Tag: Sands Cotai Central

  • Sands China mall sales increase when land-based visitors return

    Sands China mall sales increase when land-based visitors return

    Sands China mall revenue rose 5.8 per cent last year as Mainland China visitor numbers rebounded. Sands China owns The Venetian Macao, Sands Cotai Central, The Parisian Macao and The Plaza Macao shopping centres which boast a combined 1.87 million sqft of retail-mall space. They form a key part of the company’s giant gaming and resorts business in the territory, which combined posted US$8.67 billion in sales last year, up more than 14 per cent, and achieved a post-tax profit of $1.87 billion, up 17 per cent.

    The company says mall revenues for the year increased 5.8 per cent overall to $507 million, compared to $479 million the previous year.

    The increase was primarily driven by higher turnover fees from Shoppes at Four Seasons, Shoppes at Venetian and Shoppes at Cotai Central, and from additional retail space becoming available at Cotai Central.

    The strongest-performing mall complex was the smallest of the four, The Plaza Macao, which has the 241,548sqft gross leasable area (GLA). It achieved 99 per cent occupancy with a base rent of $460 per sqft and tenant sales of $4373 per sqft, contributing $145 million in revenue, up 10.7 per cent year on year.

    The weakest-performing mall was The Parisian Macao, with 89.8 per cent occupancy of its 295,915sqft GLA. Base rent per sqft was $156 and tenant sales per sqft $649. Revenue there fell 13.6 per cent year on year to just $57 million.

    The company’s largest Macau property, and its first, The Venetian Macao, has 813,376sqft of GLA. It achieved total mall revenues of $233 million last year – up 6.4 per cent – with 90.3 per cent occupancy, a base rent of $263 and tenant sales of $1746.

    Sands Cotai Central, with 519,681sqft GLA, achieved $69 million in revenue – up 9.5 per cent – and achieved 91.5 per cent occupancy. Base rent was $108 and tenant sales $892.

    Sands China said its food and beverage revenues rose 4.1 per cent last year to $304 million, driven primarily by increased foot traffic.

    Chairman Sheldon G Adelson said Macao’s development and evolution as Asia’s leading tourism destination accelerated during the year, with market-wide visitation from China reaching a record 25.2 million visits, an increase of 14 per cent compared to last year.

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  • Take a look inside the new Apple store at Sands Cotai Central

    Take a look inside the new Apple store at Sands Cotai Central

    The newly opened Apple Macau store has been designed to offer “a calm complement to the buzz and excitement of Macau,” says its creator, Foster + Partners.

    “We wanted to create something very simple and pure – a beautiful and elegant building that complements the sounds, sights and colors of Macau, while embodying a sense of clarity and quietude,” explains Stefan Behling, head of studio at London-headquartered practice.

    “The design creates two distinct spaces, one inside and one outside, imbued with a sense of authentic beauty arising from the innovative use of natural materials.”

    The new store anchors the extension of the Sands Cotai Central retail space, which houses 25 stores. It opened last Friday.

    Technology, entertainment and arts come together in the new store, giving locals and tourists alike an inviting, contemplative space. Behling says its timeless design reinvigorates a corner of Cotai with a distinctive addition – a luminescent cube, whose pure geometry and warm ‘beacon-like’ glow draws passers-by closer, set within a quiet bamboo grove and an external plaza.

    Apple Cotai Central is conceptualised as a ‘paper lantern’ that glows mysteriously. Visitors entering the store are treated to a magical experience, surrounded by glowing stone panels that shimmer throughout the day as the sun brings them to life, while at night the cube radiates a warm glow, contrasting against the bright lights of Macau. The first-of-its-kind glass-stone composite facade comprises five layers of glass integrated with wafer-thin layers of stone, which gives the building its distinctive materiality – appearing as translucent stone walls, akin to stained-glass, explains Behling.

    The structural frame is supported by just three corner columns wrapped in mirrored stainless-steel that reflect the patterns and colors of the facade, dematerialising the structure and blending seamlessly with the surrounding environment.

    Inside, a quiet bamboo grove has been taken from the ‘forest’ outside and placed under a soaring central atrium. It is capped by a large central skylight with punched pyramidical apertures that brings natural light deep into the interior. The ground level is wrapped in a glazed facade that looks onto a layered bamboo screen, providing a heightened sense of enclosure, while blurring the boundaries between the inside and outside.

    At the far end of the store is a 10.6m by 4.5m video wall, alongside an entrance from the adjacent retail shopping mall and casino.

    Two grand stone staircases lead to the upper level, lit by skylight strips that bring in filtered natural light.

    Display tables are arranged around the central atrium looking onto the bamboo grove below. The composite glass-stone facade wraps around the entire upper level, creating what Behling describes as a soft internalised environment that exudes a sense of calm and serenity.

    The Apple Macau store design is the result of a close collaboration between the Apple team led by chief design officer, Sir Jonathan Ive and Angela Ahrendts, senior VP of retail and online stores, and Foster + Partners.

    Full images of the store can be viewed below :

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  • New phase of Sands Cotai Central opens with Apple anchor

    New phase of Sands Cotai Central opens with Apple anchor

    Sands Cotai Central has opened phase four of its retail offer, adding almost 100,000sqft of retail space and 25 retailers.

    At the heart of the expansion is an Apple store, which opens today.

    The new space is home to several brands new to Macao: Calvin Klein Performance and Razzle. Other stores to open are MLB, Esprit, Guess, Watson’s, Noble Mart, Levi’s, Florsheim, Timberland, The North Face, Boy London, Zaxy and Bauhaus.

    Later this year, several restaurants will be added to the line-up, including Chiado, a modern yet authentic Portuguese concept developed in partnership with celebrity chef Henrique Sa Pessoa, and Crystal Jade La Mian Xiao Long Bao, which brings a contemporary twist to classic Beijing, Szechuan and Shanghai cuisine.

    “The addition of these new stores, especially the introduction of an iconic Apple Store, continues to ensure we provide our customers with more new-to-market brands, more choice and more amazing experiences,” said David Sylvester, executive VP of global retail at Las Vegas Sands Corp.

    Sands Cotai Central, which celebrated its sixth anniversary in April, has been the focal point of a wide range of products, offerings and experiences on the Cotai Strip, with access to four hotels since it opened in 2012.

    Earlier this year Sands China revealed plans to transform Sands Cotai Central into The Londoner Macao, which will feature new attractions including some of London’s most-recognisable landmarks.

  • Sands retail profits soar

    Sands retail profits soar

    Macao’s gambling downturn may be impacting on casino operators’ bottom lines – but retailing is on the rise.

    Las Vegas Sands, which owns The Venetian Macao, Four Seasons Macao and Sands Cotai Central shopping malls in Macau – and the Marina Bay Sands in Singapore – has reported an 18.2 per cent lift in profits from its Asian retail operations year on year for the quarter to June 30.

    Gross revenue from tenants in the company’s malls on the Cotai Strip and at Marina Bay Sands, reached US$134.4 million for the second quarter of 2015, an increase of 13.6 per cent compared to the second quarter of 2014.

    “Operating profit derived from these retail mall assets increased 18.2 per cent for the quarter compared to the quarter one year ago, reaching $119.4 million,” the company said in its quarterly financial statements filed in the US.

    The company says that despite the softer gaming market in Macao, The Venetian Macao “continued to enjoy Macao market-leading visitation and financial performance”.

    “The property generated adjusted property EBITDA of $255 million in the second quarter with an EBITDA margin of 34.5 per cent.”

    Mall revenues of The Shoppes at the Venetian Macao increased 14.9 per cent during the quarter to reach $48.5 million.

    The Shoppes at Four Seasons – 100 per cent leased at the end of the quarter – brought in $31.1 million in gross revenue and turned an operating profit of $29.2 million, giving an operating profit margin of 93.9 per cent.

    The Shoppes at Cotai Central brought in $14.6 million and a profit of $12.6 million. That mall was 97.8 per cent leased.

    And in Singapore, The Shoppes at Marina Bay Sands, 93.6 per cent leased at period end, brought in $40.4 million of revenue for the quarter and a profit of $34.5 million, for an operating profit margin of 85.4 per cent.

    Tenant sales per square foot were $5589 in the luxury section of the Four Seasons property, $2646 in the non luxury section; at the Venetian Macao $1578, at Cotai Central $1004. Marina Bay, by comparison, reached $1393.

    The overall Asian retail operation achieved $1789 per square foot in the quarter to June 30.

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