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is coastal corporation limited (501831) worth holding long term ✌️【Market Analyst】✌️ Real-time India stock and global stock indices, futures prices, and data to help you make efficient investment decisions. Simon Sio grew up in humble surroundings in the heart of Macao, living in an old building directly across from what was then the city’s grandest accommodation, Hotel Central.

Opened in 1928, it became a prestigious gathering place for celebrities and diplomats in the following decades.

In the 1960s, young Sio would playfully sneak in – it was one of the few places in theformer Portuguese colonywith air conditioning, a vast, luxurious space compared to the old tenement buildings that surrounded it. But one day, he was thrown out.

“As a kid, I didn’t know better,” Sio tells 【 - Free Trading Strategy Suggestions 】. “I pointed at the hotel and swore I’d buy it someday.”

is coastal corporation limited (501831) worth holding long term ✌️【Market Analyst】✌️ Free real-time stock index quotes to help you quickly seize market opportunities and achieve capital growth. Though countless children around the world have made similar vows in the face of perceived injustice, Sio is one of the few to actually follow through with one.

is coastal corporation limited (501831) worth holding long term ✌️【Market Analyst】✌️ Real-time global stock, futures, and forex data to help you master market dynamics. The businessman, now 65, founded his own real estate development company, Lek Hang Group, in 1991. Fast forward to 2024 and Sio could recently be found cutting the ribbon to officially reopen the 96-year-old Hotel Central as its new owner.

But he didn’t buy the hotel out of spite. Sio says he wanted to restore a piece of Macao’s disappearing history, an issue that’s close to his heart.

In more recent years, luxurious resort complexes and skyscrapers have continuously popped up around Macao. In contrast, the sprawling alleys and old architecture along Avenida de Almeida Ribeiro, affectionately called San Ma Lo (translated as ‘The New Road’ in Cantonese) might not look all that exciting today.

But when the road first opened in 1920, it instantly became the city’s most important thoroughfare. Hotel Central, formerly named the President Hotel, opened a few years later and became a key feature of the neighborhood.

“If we talk about Macao’s history, we cannot neglect San Ma Lo. If we talk about San Ma Lo, we cannot neglect Hotel Central,” says Sio.

is coastal corporation limited (501831) worth holding long term ✌️【Market Analyst】✌️ Free real-time global stock indices and data to help you grasp stock market trends and achieve capital growth. The mint-colored seven-story hotel was the first building in Macao to have an elevator. In 1932, it became the first hotel in the city to have a two-floor casino. It was expanded to eight floors in 1938 and 11 floors in 1942, making it the tallest hotel in the city.

“The giant watched me grow up like an elder,” says Sio. “So I had a deep emotional attachment to it. At its peak, it was my idol. As I became older, its decay made my heart uncomfortable.

“Until today, Hotel Central exists as the tallest, largest building on San Ma Lo. I felt that it should embody its power at its fullest potential. So I kept my eye out for opportunities to restore it.”

In 2016, Sio completed a seven-year acquisition process and officially became the new owner of the hotel.

is coastal corporation limited (501831) worth holding long term ✌️【Market Analyst】✌️ Expert predictions with real-time stock indices, futures data, and metals, energy market data to help you seize the best investment opportunities. That was the first step. Renovating a nearly 100-year-old building is a challenging endeavor, particularly since the additional floors added to Hotel Central in the 1930s and 1940s did not have proper foundation reinforcements. To complicate things further, the building and its adjacent area isa cultural heritagesite and situated withinthe UNESCO-listed historic center, meaning the company couldn’t alter or demolish some structures to fortify its base.

“With nearly 100 years of history, the durability of the cement was limited, and it was clearly long past its prime condition,” says Sio.

is coastal corporation limited (501831) worth holding long term ✌️【Market Analyst】✌️ Real-time global stock, futures, and forex data to help you quickly assess market trends and achieve stable returns. The team came up with multiple proposals based on what had been done in the past but none were feasible. In the end, Sio’s team had to invent a new piling method and tested their design multiple times at a construction site in China before setting out to work on Hotel Central.

is coastal corporation limited (501831) worth holding long term ✌️【Market Analyst】✌️ Free stock selection service with professional advisors offering the best investment portfolio for stable growth. The developer also used new materials and technologies, such as digital sketching, to recreate the original look of the building.

“When you have no experience, you have to take time for trial and error every step of the way…to stop and come up with solutions when we run into issues, to discuss together how to pivot, before we put in the work.”

is coastal corporation limited (501831) worth holding long term ✌️【Market Analyst】✌️ Real-time global stock trend and futures data to help you plan investment strategies for long-term returns. After overcoming numerous problems, construction finally began in 2019. Before long, yet another massive challenge got in the way: Covid-19.

“We’re all very proud to say that the project was successful in the end,” says Sio, noting that the cost of the restoration was approximately 400 million Macanese Pataca (about $50 million), while the total investment was around 2.2 billion Macanese Pataca (or about $274 million).

is coastal corporation limited (501831) worth holding long term ✌️【Market Analyst】✌️ Expert predictions of stock trends with real-time stock indices, futures, and metals, energy quotes to help you seize investment opportunities. The newly renovated Hotel Central has 114 rooms with a retro interior design inspired by the 1920s, 1930s and 1940s. A qipao rental service gives guests a chance to dress up in traditional clothing to match the vibe of the hotel.

is coastal corporation limited (501831) worth holding long term ✌️【Market Analyst】✌️ Free stock data analysis to help you select stocks accurately and capture market trends. An exhibition called “Historical Cultural Corridor” on the ground floor is already open to the public. Still to come is a small shopping mall, which will sit on the first three floors of the hotel, though an opening date hasn’t been set. The hotel will also house a restaurant, a bakery and a rooftop bar overlooking the skyline of Macao on the top floor.

“Looking back, projects like Hotel Central on the market are relatively far and few, especially one with such an extensive history,” he says.

“There’s a saying which I tell everyone around me: ‘Money can produce volume, but money cannot reproduce history.’”

is coastal corporation limited (501831) worth holding long term ✌️【Market Analyst】✌️ Precise predictions of market trends with real-time stock indices and futures data to help you make wise investment decisions. Sio hopes that Hotel Central inspires more developers to revitalize Macao’s historical sites and diversify the city’s tourism development beyond its glitzy casino resorts.

“We hope that visitors will have a different view of Macao: Macao is not just the Cotai strip, Macao is so much more,” he says, referring to an area of the city that houses many of the newest and biggest casino resorts.

But he says he feels positive about the future of Macao’s tourism industry, especially as the government has committed financial resources and invited gaming companies to join the effort to preserve the city’s history.

is coastal corporation limited (501831) worth holding long term ✌️【Market Analyst】✌️ Free global stock market data to help you plan the best investment strategies and seize market opportunities. MGM, which has two casino hotels in Macao, for example, will reportedly collaborate with the government to restore 13 run-down buildings in the 35,000-square-meter (378,000 square feet) Barra District and create an arts and recreation space.

“With so much effort, I believe that we have a chance to produce a good result in a very short amount of time, so let’s wait and see,” says Sio.

“Macao is small. We can’t grow in size. Thirty-three square kilometers is all we have… But small things can be exquisite. So we need to move in the direction of exquisiteness, like a jewel.”

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