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Taubman Tapped for Macau Studio City Retail

MACAU-The developers of the multibillion-dollar mixed-use development here retain Taubman Asia to provide development, leasing and management services.

By Brian K. Miller | Updated on January 10, 2007

(For more retail coverage, click GlobeSt.com/RETAIL and to read more on the multifamily market, click here.)

MACAU-Taubman Asia will direct the retail piece of Macau Studio City, a multibillion-dollar mixed-use development here that will combine theater, television and film production facilities with retail, gaming, entertainment and hospitality components on the Cotai Strip. As part of the agreement, which will be finalized before mid-year, Taubman will acquire a minority position in the retail component.

A 45-minute ferry ride from Hong Kong, Macao is a Special Administration Region of China with its own legislative government, similar to Hong Kong. The government opened up the area for more gaming development in 2004 and now some $20 billion of investment is transforming the former Portuguese colony into the gambling capital of Asia. Cotai is a landfill area between the islands of Taipa and Coloane that is being planned to eventually resemble the Las Vegas Strip.

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